For better or worse, your automobile insurance premium is a direct result of your driving record. This amount is determined by the insurance company to cover the costs of insuring you and your family as drivers on the road. Want to lower your premium? Keep your driving record clean!
Before giving you a premium price quote for your automobile coverage, insurance companies look at your driving record for the last three to five years. Your driving record reveals how risky you would be as an insured. Those with lots of tickets and/or accidents are considered more of a potential liability because statistically, they will get into more accidents and have more tickets in the future.
Safe Driving Pays
Your insurance premium is not a finite amount and can diminish over time if you maintain a clean driving record. If you have no accidents or tickets (especially moving violations) on your record recently, you may be eligible for a lower rate. And, you may be eligible for a significant discount after several years of good driving.
You may also be eligible for an accident forgiveness program if you’ve gone several years without an accident on your record. (Or, you may qualify for a reverse accident forgiveness program, if you’ve had a clean record for some time and then have an indiscretion.) In these circumstances, your premium may not go up if you maintain a good record after that indiscretion.
A good driving record can also reduce your deductible! For each year that you go without an accident or ticket, you may be eligible to do away with your deductible completely. This is extremely beneficial for those who elect a higher deductible in exchange for smaller premiums.
Not only is driving safely beneficial for your well-being, it is also beneficial for your pocketbook. Maintain a clean driving record to reduce your premium today! We’re here to help you with all of your auto needs. Contact us to learn about our automobile policy coverage and personal risk solutions.
Top Ways to Save on Your Auto Insurance Premium:
- Consider raising your deductible
- Keep up your good driving record
- Drive less – you could qualify for a low-mileage discount
- Drive a car with safety features such as anti-lock brakes, airbags, etc.
- Install an anti-theft device
- Ask about our multi-policy discounts
The Truth About Young Drivers
While young drivers might start fresh with their driving record, drivers under the age of 25 are statistically up to four times more likely to be in an accident, so their insurance rates are typically higher than their older counterparts. (Additionally, males under the age of 25 will be more expensive to insure than females under the age of 25.)
Help instill good driving habits in young drivers in an effort to keep their records clean of any accidents or tickets, and pave the way for lower rates down the road. We’re here to help. Call your local Marshall & Sterling office today to learn more about all of our car insurance and personal risk management solutions - including online defensive driving courses.