If you’re looking to save money on your car insurance, you’re not alone. Car insurance is necessary for most drivers, but that doesn’t mean it has to be expensive. A recent study showed that more than half of all drivers are looking for ways to reduce their premiums. Fortunately, there are several things you can do to help keep your costs down.
Check out the seven simple tips below for some easy ways to start saving money on your car insurance.
HOW DO YOU GET CAR INSURANCE DISCOUNTS?
Many people think that the only way to save money on their car insurance is to go with the cheapest option. However, there are actually several ways that you can save money on your car insurance by asking for discounts.
For example, many insurance companies offer discounts for excellent drivers, and you may also get a discount if you have a clean driving record. You can also often save money by bundling your car insurance with other types of insurance, such as homeowners or renters insurance.
1. Group Discounts
Start by seeking discounts that may be available to you. For example, some companies give discounts to those who’ve not had any accidents or moving violations during a specified period or who have taken a defensive driving course.
Many companies also give reductions to drivers who get insurance through a group plan from their employers, through professional, business, and alumni groups, or from other associations.
Be sure to ask your agent about any other discounts that might be available. By taking advantage of these discounts, you can save a significant amount of money on your car insurance.
2. Low Mileage Discounts
There are reasons why a company might offer low mileage discounts. The first is that drivers who drive less tend to be safer drivers. They’re less likely to get into accidents, and when they do, the damage is usually less severe. This translates into lower insurance premiums from the insurance carriers.
If you drive fewer than the average number of miles per year, ask your insurer about low mileage discounts to help save yourself some money.
DOES SWITCHING CAR INSURANCE SAVE MONEY?
3. Compare Quotes
For car insurance, there’s no one-size-fits-all solution. Auto insurers use a variety of factors to calculate your rates, and each company weighs these factors differently. That’s why it’s essential to shop around and compare rates from multiple companies before choosing a policy.
By taking the time to compare rates, you might save hundreds of dollars on your car insurance each year. And while it may take a little effort to compare rates, it’s worthwhile when you consider the potential savings. So don’t wait; start shopping around for car insurance today.
4. Compare Quotes Before You Buy Your Car
Before you purchase your next vehicle, it’s vital to compare insurance rates for the models you’re considering. Sports cars are more expensive to insure than other cars because they’re more likely to be involved in an accident.
If you’re looking for a car that’s cheaper to insure, consider choosing a small, conservative model. You can also compare rates from different insurers to find the best deal on car insurance. Again, by taking the time to shop around, you can save money on your car insurance premium and get the coverage you need.
5. Increase Your Deductible
Studies have shown that increasing your deductible can significantly lower your premium costs. In fact, by raising your deductible from $500 to $1,000, you can save up to 30% on your premium.
While this may seem like a risky move, it’s important to remember that the average driver only files a claim once every 18 years. Therefore, the likelihood of having to pay out of pocket for repairs is relatively low.
And when you need to file a claim, the savings from your lower premium will more than offset the cost of the higher deductible. So if you’re looking to save money on your car insurance, try raising your deductible.
HOW DO YOU SAVE MONEY ON CAR INSURANCE?
6. Improve Your Credit Score
Another way to save money on your car insurance is by improving your credit. In many states, your credit score can be a significant factor when car insurance companies calculate how much to charge you. (It can even count more than your driving record sometimes.)
If you have a good credit score, you’re less likely to file a claim, and claims drive up rates. Aim for a score of 760 or above to get the best rate. Unsure of your credit score? You can check your credit score for free from many credit check websites.
7. Safe Driving
Car insurance is a necessary expense for all drivers, and it’s essential to get the best value for your money. The last - and one of the best ways - to save on car insurance is to drive safely.
You’ll typically pay less for your insurance if you have a clean driving record. Insurance companies offer discounts for safe drivers, so it (literally) pays to be cautious on the road.
In addition, you can often get lower rates by taking defensive driving courses or installing safety devices in your vehicle. By taking a few simple steps, you can save money on your car insurance and enjoy peace of mind on the road.
Trying to save money on your car insurance shouldn’t feel like a hassle. There are many things you can do today to lower your insurance payments. We hope after reading this post, you’ve gotten a few good ideas to help you save some money today.
If you need help finding the best car insurance coverage for the best price, start by speaking to a SimplyIOA agent at 833.872.4467 or get an auto insurance quote online now.
