Car insurance can be expensive. But there are ways you can help lower your monthly payments and still get the coverage you need. With MAIF Auto in Maryland, many drivers can find affordable car insurance despite their driving history or risk level. And with some additional action, you can continue to lower your auto insurance payments and save money.
Tips to Lower MAIF Auto Maryland Premiums
Lowering your insurance premium is a great way to save money every month. There are a few different things you can do to help lower your premium, but you may not want or be able to do all of them. Picking the right actions to take is key in helping you get the best coverage at the right price.
Drive Safely
One of the main causes behind high premiums is your driving record and accident history. Once you get into an accident, even if it wasn’t your fault, you’re more likely to experience a hike in your premium payments. The longer you go without needing to make a claim, the more you can work on reducing your monthly payments. Some insurance policies even offer discounts if you drive a car with certain safety features. For example, driving a car with a brake warning or automatic brakes could reduce your chances of getting into an accident. As such, you may experience lower premium payments.
Increase Your Deductible
Your insurance deductible is how much you have to pay out of pocket per incident before insurance coverage starts. The higher your deductible is, the lower your monthly payments tend to be. However, it’s not always a good idea to increase your deductible. If you drive regularly, especially in high-traffic areas, you’re at a higher risk of experiencing an accident and needing insurance help. Before choosing a high-deductible plan, be sure to assess your risk factors to see if increasing your deductible is really the right choice.
Pay Small Payments
Depending on your deductible, there are probably some incidents that you’ll need to pay out of pocket for entirely. And even if insurance may cover some of it, it’s not always a good idea to make a claim. Every claim you make can contribute to increasing your premium. Smaller accidents and damage, such as scrapes or bumps, may be better off paid out of pocket. This can help reduce your risk factor and history, keeping premiums lower for monthly expenses.
Drivers in Maryland are required to have a minimum level of insurance coverage when driving on public roads. If you fail to meet these requirements, you could end up facing serious fines and even license suspension. At MAIF Auto in Maryland, we help provide affordable insurance policies for eligible drivers. Contact us today at 301.476.4887 to learn more about MAIF policies and how you can help lower your premiums.