Spend Most Of Your Workday Driving? How Can You Keep Your Insurance Costs Low?
Although it takes most U.S. workers an average of only 26 minutes to commute to work each day, some employees who travel around the state (or country) to entertain clients, drum up business, or make deliveries may spend far more than an hour per day in their vehicles. Unfortunately, the more you drive, the higher your risk of eventually being involved in an auto accident, and therefore the higher your insurance rate--often even if you have a better driving record than another driver who spends far less time behind the wheel. Read on to learn more about saving money on auto insurance even when you rack up hundreds (or thousands) of miles each week.
Each auto insurance company has its own proprietary formula that weighs a wide variety of risk factors. These factors can include everything from your driving history and number of average daily miles driven to your criminal history (or lack thereof), age, the zip code in which you live, and even the amount of money you earn.
Finding an insurance company with a formula that places a low emphasis on factors like the number of miles driven, while emphasizing factors that work in your favor (like a good driving history or high income) can help you achieve the best possible rate. Because insurance companies tend to guard these proprietary formulas tightly, the best way for you to find out which company's formula will benefit you the most is to simply solicit multiple quotes from different agencies in your area or online.
Install Monitoring Devices
Another way to quickly reduce your insurance premium by demonstrating your good driving habits is to install one or more monitoring devices in your vehicle. While some may shy away from a "Big Brother"-level of GPS monitoring that provides your insurance agency with information on your daily whereabouts, installing a GPS device that can measure your braking and acceleration speed can give your insurance company the peace of mind it needs to lower your rate so that it's more comparable to other low-risk drivers.
Look for Incentives
With more competition in the insurance industry than ever, companies are doing all they can to attract low-risk drivers. Because of this, those with good driving records who have been with the same insurer for years or even decades may benefit by looking to companies that offer rebates or incentives to those who switch carriers.
You may also want to consider seeking out a policy that offers decreasing deductibles for each year you're accident-free; this can minimize any out of pocket cost in the event you are eventually involved in an accident while with this insurance carrier.
Contact a company that can help you find a great insurance quote for more information and assistance.