The time has come – time to make your auto insurance payment. If you cringe every time you need to pay your auto insurance bill, you’re probably looking for ways to save money on auto insurance – and we don’t blame you! Car insurance has gotten very expensive. Of course, it’s essential to have proper auto insurance when you hit the road, but that doesn’t mean you should have to break the bank to get it. We have some tips on how to save money on car insurance.
1. Keep a clean driving record.
It pays off to be a safe driver. Insurance companies often determine how risky you are to insure by checking if you’ve recently gotten any tickets or been in any accidents. If your driving record doesn’t look too great, you’ll probably face higher auto insurance rates. So, there’s some incentive to become a Straight-A driver!
2. Raise your deductible.
Quick insurance fun fact – your deductible is the amount you agree to pay if you have a claim before the insurance company will step in to cover the rest of the loss.
If you select a higher deductible for your auto insurance, chances are you’ll be able to get lower premiums. That’s because you’re accepting more risk and you’re less likely to file a claim. However, it’s a bit of a balancing act. You have to consider how much you could comfortably afford to pay if you have a claim. You don’t want to set your deductible so high that it would be a huge burden if you had to pay it, but if you evaluate your financial situation and find that you can raise your deductible, you could knock some money off of your premiums.
3. Check and see if you qualify for any discounts.
Discounts are magical. They’re basically easy ways to save money on insurance just by being you. There are numerous discounts out there, and they vary from insurance company to insurance company. For example, some companies offer a multi-car discount, a Good Student Discount (which could come in handy if you’re insuring a teen driver), or a low mileage discount if you don’t drive that much. Check and see what discounts could be available for you. You never know – pestering your agent might pay off!
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4. Bundle your home insurance and car insurance.
Speaking of discounts, many insurance companies offer savings if you get both your home insurance and auto insurance from them (this is commonly known as bundling.) If you like your home insurance company, you can consider switching your car insurance over to them if they offer a bundling discount.
5. Drive a safe car.
Cars with safety features, such as anti-lock brakes and good airbags, may get lower insurance rates. Before buying a new car, try to do some research and find out how much it will cost to insure. A vehicle that’s safer and more sensible will probably have lower premiums than a fancy sports car. Yes, the fancy sports car is awesome…but it will probably cost a pretty penny to insure.
Pro tip: Installing an anti-theft device could also help you get lower auto insurance rates.
6. Take steps to improve your credit.
Your credit is another indicator of risk. Insurance companies see those with better credit scores as being lower risks, so those individuals may get lower car insurance rates. Credit can be a big deal when it comes to insurance.
7. Shop around for the best rate for car insurance.
Let’s say you’re in the market for a new microwave. You wouldn’t settle for the first one you see at the store, would you? Probably not – you’d want to compare prices and features. Different insurance companies evaluate risk differently, so it can pay off to shop around and get multiple quotes for your car insurance. You need to compare insurance products and rates to make sure that you get the best price for the best coverage. This is your chance to put your best shopping skills to work. With a bit of determination, you can accomplish great things.
So, if you’re worried about your auto insurance (or rather how much car insurance costs), don’t despair. You can always try bundling your home insurance and auto insurance, questing for discounts, and shopping around. It also helps if you’re a safe driver and if you try to improve your credit score. Though your car insurance bill may seem high, there are steps you can take to manage it.
And one of those steps is teaming up with InsuranceHub. We can help you shop for your car insurance and save money on your rates. And we like to make insurance easy, so all you have to do to get started with car insurance quotes is fill out our online form or give us a call.