• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Ohio
  • Cars
  • DIY
  • PR and Disclosure
  • Ashley Thompson Photography
Just Bein' Mommy

Just Bein' Mommy

Columbus, OH Parenting Blogger

Why Are Your Car Insurance Premiums Always So High?

October 13, 2020 by Ashley T

Insurance is one of the biggest costs associated with owning a car and you can’t really avoid it. But some people find that their insurance premiums are always very high and they don’t seem to be going down year on year. Usually, there is a reason that your car insurance is so expensive, which means that you can do something about it and save yourself a lot of money. So, why are your car insurance premiums so high?

Your Car Has A Poor Safety Rating 

The kind of car that you own has a big impact on your insurance premiums. Insurance companies calculate the cost based on how likely they think you are to make a claim, as well as the value of the car and the cost of repairing it. That’s why car safety ratings are so important because if you own a car with a bad safety rating, the insurance company assumes that you are more likely to be in an accident. But if you have a car with lots of advanced safety features, you are less likely to have an accident and your insurance will be cheaper. When you are buying your next car, look for cars with a good safety rating and you will save a lot of money, even if they are more expensive to begin with. 

You Have A Big Car Loan 

Although all insurers are different, most of them will charge more if you have a car loan, so paying off your loan is one of the easiest ways to reduce car insurance premiums and save money in the future. The reason for this is that insurers assume that people with car loans are likely to be younger and more likely to buy newer cars, which both factor into your car insurance costs and push them up. If possible, try to pay for your car in cash or at least increase the deposit that you put down so you can clear the loan faster. 

Your Car Isn’t Safe At Night 

People don’t just claim on their insurance for accidents, they also claim if their car is broken into or stolen. That’s why insurance companies ask whether you park in a garage or on the street and they ask for your address so they can see what the local crime rates are in the area. If your car is parked on the street, it’s far more likely to get stolen and your insurance will reflect that. If possible, you should always store it in a garage. 

You Pay Monthly 

Most people pay for their car insurance monthly instead of making one annual payment because it’s a lot easier to manage. But it does also mean that you pay more overall. A lot of people can’t afford to pay it all in one lump sum and you shouldn’t pay annually unless you can afford it. However, if you put money aside each month and then pay it all in one go when you renew your insurance, you can make some significant savings. 

These are the most common reasons why your insurance premiums are high and they aren’t going down. If you can address these issues, you should be able to save yourself a lot of money. 

Related Posts

  • How will you “Mom”?How will you “Mom”?
  • Moving As A Family: How To Make It As Easy As PossibleMoving As A Family: How To Make It As Easy As Possible
  • Keeping The Outside Out In A Rural HomeKeeping The Outside Out In A Rural Home
  • Benefits of Supplements for Weight LossBenefits of Supplements for Weight Loss

Filed Under: Cars

Primary Sidebar

  • Email
  • Facebook
  • Google+
  • Instagram
  • Pinterest
  • Twitter

Hello Loves!

My name is Ashley and I’m a mom of 2 boys (Hayden and Noah), a little girl (Olivia) and a wife to Paul. We live in Columbus OH. I became a work at home mom in May of 2014. Email: ashley@justbeingmommie.com (read more)
Ashley Thompson (@beingmommie) - influencer profile on Dealspotr
dealspotr.com

Check Us Out On Zillow

 

Recent Posts

  • Keeping Your Home Clutter-Free Throughout This Pandemic
  • Important Electrical Upgrades You Need for Your Home
  • Why Visiting Colorado Will Take Your Breath Away
  • Top Tips For Getting Your Day Off To A Great Start
  • Formal dresses: how to love your choices

Love my Theme?

Feminine WordPress Themes using the Genesis Framework by Restored 316
Just Bein' Mommy

Copyright © 2021 · Splendor Theme theme by Restored 316

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings.

Just Bein' Mommy
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.