5 Ways To Save On Auto Insurance: 5 Helpful Tips You Shouldn't Ignore
When it comes to monthly expenses, keeping your car insurance bill down is likely not at the top of your list. But for many drivers, it’s one of the costliest parts of owning a car.
Depending on where you live and how old your car is, auto insurance premiums can be fairly steep. It’s no wonder that so many people are looking for ways to keep their costs down when it comes to auto insurance.
It may seem like an unavoidable expense, but with a little bit of research and planning, you can save money on auto insurance month after month. Here are five helpful tips that will help you save on auto insurance costs:
- Research and be informed
- Drive safely (and avoid accidents)
- Know your coverage options
- Shop around
- Lock in your rate
Research and be informed
But it’s not unheard of, either. Some companies will offer lower rates during certain times of the year, such as during the summer when accident rates are lower. If you’ve been with them for a while, it’s worth asking if there are any special rates you can qualify for.
If your company refuses to lower your rate, you can try committing to a longer-term policy. Some insurance companies offer discounted rates if you commit to a policy for a year or longer. It’s worth asking if you can lock in a lower rate for a longer period.
Drive safely (and avoid accidents)
One of the most obvious ways you can save on auto insurance is by driving safely. If you have a clean driving record, you’re likely to get a lower insurance premium. The exact amount you can save will depend on your insurance company.
But according to one estimate, if you have a crash-free record, you can save up to 30% or more on your insurance premiums. One of the easiest and most effective ways to drive safely and avoid accidents is to make sure that you are properly rested when you are behind the wheel.
Studies have shown that drowsy driving is a factor in one in six fatal car accidents. If you know that you will be driving late at night or early in the morning, make sure to get plenty of rest beforehand.
Know your coverage options
Before you start shopping around for the cheapest car insurance rates, make sure you know what coverage options are available to you. If you already have car insurance, you should be able to access a detailed policy online to see exactly what types of coverage you have.
Otherwise, you can call your insurance company or visit a local agent to ask about your coverage options. It’s important to make sure you have the right coverage for yourself, your family, and your car.
In particular, make sure you have full coverage. This type of coverage is required in most states. Make sure you understand what each part of your coverage entails before committing to it.
Shop around
The best way to make sure you are getting good deals on car insurance is to shop around. You can do this online or by visiting a few local agents.
You can also sometimes save money by switching to a new insurance company. Even if you have a clean driving record and have been with the same company for years, it’s worth checking to see if you can get a better deal elsewhere.
One thing to keep in mind when shopping around for car insurance is that rates vary depending on the time of year.
Rates are generally highest during the fall and winter months when more accidents occur. They are lowest during the spring and summer. If you can wait until the summer to renew your policy, you may be able to get a lower rate.
Lock in your rate
If you shop around for car insurance, you may be able to find a lower rate. But what if you’re already committed to a certain company and rate? Try calling your current insurance company and asking them to lower your rates.
This isn’t something that happens often. But it’s not unheard of, either. Some companies will offer lower rates during certain times of the year, such as during the summer when accident rates are lower.
If you’ve been with them for a while, it’s worth asking if there are any special rates you can qualify for. If your company refuses to lower your rate, you can try committing to a longer-term policy.
Some insurance companies offer discounted rates if you commit to a policy for a year or longer. It’s worth asking if you can lock in a lower rate for a longer period.
Conclusion
Saving money on car insurance isn’t a difficult task. All you need to do is follow the helpful tips highlighted above and you’ll be on your way to lower premiums in no time.
And with all the extra money in your pocket, you can put it toward something more beneficial, such as
- paying off your car loan
- making repairs to your vehicle.
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