For many of us these days getting the best car insurance rates isn’t a luxury… it’s a necessity.
So when it comes to finding, and getting, better rates what can you do?
Admittedly, some factors will be outside your control, such as where you live. Believe it or not, your Zip Code is one factor that can, and will, dramatically impact the price you’ll pay.
Another would include accident history (think claims) and traffic violations (tickets), among others.
Still, there are some concrete steps you can take that will lower your premium without slashing your coverage to the bone…
How to save on car insurance
So how can you really save on your auto insurance?
The first tip is to shop around.
Here’s what I mean…
About five years ago my dad mentioned to me how he had been with the same insurance company for more than 15 years. What’s interesting is the fact that he was proud of this statement, as if loyalty to any ONE company still meant something.
All I said in response is that it might make sense to contact other companies – shop around – to see if he could get a better rate.
A few weeks after our conversation he called me up to say that he was able to save more than 20% off his auto insurance payments. So I guess you can “teach an old dog new tricks.”
If you think it makes sense to get some competitive rate quotes, here are some other factors to consider that can save you money each month:
- Bundle other coverages with the same company
- Increase your deductible
- Change your coverage amounts
Other possible discounts include:
- Group / Alumni associations
- Discounts through your employer
- Your Credit score
When it come to getting a quote some companies will offer you a discount if you have more than one policy with them – for example renters, homeowners insurance, liability, etc. In this case you would want to ask what the discounted auto insurance rate would be, along with possible discounts for your other insurance as well.
Just make sure that you’re getting an apples to apples comparison.
You can also save money on your premiums by increasing your deductible.
Though a $500 deductible is fairly common, you could consider a $1000 deductible for certain coverages to see how much monthly savings this could provide for you.
Some companies provide additional opportunities for savings, such as discounts for good credit score, no claims history for several years, military service discounts, or for any group or alumni associations you may belong to. Furthermore, other discounts may be available based on where you live, any safety features or anti-theft devices installed in your car, and how many miles you drive each month.
The fact is, the more details you can provide to an insurance expert (i.e. an independent agent) the better chance you have of getting the best coverage at the best price.
So what’s the bottom line?
It pays to ask questions. And to get an insurance review of your existing coverage because there’s a good chance you can do better.
Compare free auto insurance quotes and save
Are you searching for affordable auto insurance?
Save time and aggravation with a free, customized, quote comparison from qualified insurance providers. It only takes a couple of minutes so why not enjoy peace of mind by getting the coverage you need.
Get your FREE, no-obligation auto insurance quotes today.
Or you can search through our list of auto insurance providers for your State or Metro area that can help you get the insurance coverage you need.
Either way the choice is yours…