Some things in life are free. Car insurance is not one of those things, and it can be rather darn expensive. Here are some ideas on how to save money on car insurance.
Depending upon what state you live in, having car insurance may not only be a smart way to protect your car, it may also be the law. Certain states require that drivers carry insurance on their vehicle, and for good reason. Car repairs can be very expensive, and most people do not have a few thousand dollars set aside just in case of an accident.
Since car insurance is something we need to spend to money on, we should try to at least save some money while we’re doing it, right?
Here are a few tips to help you save some money on your car insurance bill.
1. Get quotes from more than 1 company. You are severely limiting the money you might save by signing up with the first company you get a quote from.
2. See if your employer has any special relationships that might entitle you to cheaper insurance. Some companies that are only available to groups have incredibly attractive rates and can save you a lot of money.
3. Some companies offer percentage discounts for a good driving record, good grades in school, and defensive driving courses. A defensive driving course might cost you a few hundred bucks, but it might you save you multiples of that over the next few years. Check with the insurance company to see which programs qualify for this discount.
4. Make sure your motor vehicle record doesn’t have any wrong information. Identity thieves have figured out that it is not too difficult to get their moving violations on someone else’s record.
5. Carrying a higher deductible, for example $1000 instead of $500, can lead to lower rates. If you are not prone to having accidents, a higher deductible might be a good choice for you.
6. If you have a teenage driver, consider having them get their own policy. At least get quotes to compare whether they are adding unnecessary expense to your rates.
7. Move to a rural area. This is probably not a viable option, but car insurance does vary heavily by area and state. More densely populated areas oftentimes have much higher rates than rural areas.
8. If your vehicle is completely paid for, you may only need to carry a minimal amount of insurance. Check with your insurance company and state laws to see if you’re required to carry coverage such as liability, collision, or comprehensive coverage.
9. Some car insurance companies will give a discount if you have an alarm or theft-deterrent device installed. If your car doesn’t have one already, consider getting one.
There you have it. A few free tips on how to save money on your car insurance. Some may work for you and some may not, but you won’t know that you’re getting the best rate unless try to implement some of these tips. Good luck in reducing your car insurance bill!
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