How to Save Money on Car Insurance Without Sacrificing Coverage
Drive responsibly, with or without car insurance.
You’re here to learn how to save money on car insurance, so let’s get right into it.
The first and best way to do this is to shop around. Compare prices from as many providers as you can. These companies have “appetites” that change constantly. As each company’s appetite changes, you’ll do well to find one whose appetite fits your unique needs well and can offer you a better deal. You can do this on your own or save time by going to an independent insurance broker who can do the shopping for you.
Second, be a defensive driver. A clean driving record (no arrests, speeding tickets, or accidents) can often qualify you for lower rates. Plus, it has the bonus of keeping you and the people around you safe.
Third, tweak your deductibles. This is the money you have to shell out before your insurance kicks in. A higher deductible will lower your monthly premiums. Just make sure you can afford the expense if you need to file a claim.
Fourth, bundle up. Many insurers offer discounts if you combine your car insurance with other policies like homeowners or renters insurance.
Fifth, drive a sensible car, not a race car. Of course, insurance companies will consider your car’s make, model, age, and safety features. So, while owning a sleek sports car could turn heads, it will also drive your premiums way up. A more practical and reliable car will not only save you money on maintenance costs but also on insurance premiums.
Sixth, maintain a good credit score. In some states—including North and South Carolina—a poor credit score can impact your insurance rate by as much as 72% annually compared to good credit.
Seventh, take advantage of discounts. Good student discounts, low-mileage discounts, or even discounts for being a member of certain organizations are some of the available ones many insurance companies offer. They might not advertise these, so don’t be shy and ask your broker to find as many available discounts as possible.
Be a Savvy Shopper and
Save Money Today.
Don’t just accept what your current car insurance provider is charging you, as they will most likely increase your premiums every year. Shop around or ask for professional help from your trusted insurance broker agency.
