The 9 Most Effective Ways to Reducing SUV Insurance Rates
If you've been struggling with high car insurance rates for your SUV, you're not alone. The Insurance Research Council estimated that in 2009, some 14% of motorists were uninsured despite the fact that auto insurance is mandatory in every US state. Adding to the problem of maintaining coverage is that SUVs are inherently more expensive to insure, although some models are surprisingly affordable to have covered. Here are some tips on how you can keep your SUV insurance rates affordable.
1. If you're going to buy a new SUV, choose a model that is included in the Insurance Institute for Highway Safety's list of top safety picks. These vehicles have ranked highly in performance tests such as a rollover test and high-speed side-crash and front tests as well as evaluations of safety features. If you buy a car from the IIHS list, you are more likely to get a lower quote from a provider although other factors may also come into play such as how expensive the car is to have repaired. Some insurers may also compile lists of the most and least expensive SUV models to insure that you can consult before heading off to the dealer's lot.
2. Take a defensive driving class. This is particularly useful if you are in your twenties, since young drivers are considered inexperienced and more of a safety risk, and are thus charged higher rates. When you complete a defensive driving program, you are communicating to the insurance company that you are willing to learn how to drive more safely.
3. Explore any discounts that you may be eligible for. For example, you may qualify for discounts depending on what safety and anti-theft features your SUV has, as well as a low-mileage discount if you only use your SUV to go to and from work and a good driver discount if you have managed to maintain a good safety record for at least three years with no accidents or citations. You may also get discounts if you insure more than one car with your provider, as well as by getting your homeowners insurance for them as well. And you may even get a discount simply for being a new customer.
4. If you have an older SUV model, you should reduce the amount of coverage on it or even eliminate coverage altogether since the value of your vehicle has already depreciated.
5. Increase your deductibles. A deductible is the amount of the damages you cover out-of-pocket before your insurance company starts paying off. To pay for the deductible, consider putting aside some of the savings to set up a fund in case you get into an accident.
6. Avoid making claims on small accidents such as a dented fender that you can afford to pay out-of-pocket. Keep in mind that the more claims you make, the higher your premiums will be when you renew.
7. Maintain a good credit score. Your credit rating is one of the factors that insurers will consider when they are deciding what rates to give you, since a good rating is an indicator that you have financial responsibility.
8. Stay with your insurance company as long as possible. While an insurance provider may give you a good rate when you first sign up with them, they will also reward you for staying loyal and establishing a good payment record by giving you discounts when you renew your SUV policy.
9. Shop around for your insurance quotes. While SUVs insurance rates are typically higher, there may be differences among different insurers. Visit online vendor sites that allow you to compare quotes from several producers so that you can find the deal that best meets your needs. At the same time, you should not let low rates be the only factor you should consider but also look at the level of service the provider offers as well as the other features of the policy.