Insurance, whether it be home, renter’s, car, health, is typically among the most expensive bills you pay each month. Finding new, innovative ways to save money on insurance can help your finances significantly.
Car insurance is one of the easiest to control where cost is concerned. Consider each of the following tips when trying to save money on car insurance.
Checks the Rates and Compare
Browse the internet and check the car insurance rates other companies are offering you compared to your current insurer. Get this information and use it to haggle with your current insurer. If they won’t price match or add coverage, you may want to consider switching to the cheaper company.
There are a plethora of websites that allow you to compare rates side-by-side, making it easy to get the numbers together. If you’re able to save even a little bit of money, it will be worth the time!
Look for Discounts
You can also search the web for discounts that you can apply for. The most commonly known car insurance discount is the safe driver discount. This discount is given to individuals who have good-to-perfect driving records. Other discounts are available as well. Students, for instance, can receive a discount if they get good grades.
If you are searching and don’t find a discount that applies to you, don’t fret. Many insurance companies offer discounts on your coverage if you opt to take a driving course. Contact your insurance company directly to receive a list of acceptable courses and locations.
Consider Taking on a Higher Deductible
If you take on a higher deductible you can save up to 20 percent on your premium in the event of an accident. Be sure this is the right decision for you though. If you have had accidents that have been ruled as your fault or a poor driving record, a higher deductible wouldn’t likely benefit you.
Bundle Your Insurance
Many insurance companies provide the option to bundle multiple types of insurance coverage. For instance, you can bundle you home and auto insurance. In some cases, combining your car insurance with your other coverage makes sense and can even save you money.
Avoid Low Premiums
Lower premiums are always more attractive but you will need to make sure you know the depth of your coverage before purchasing an insurance plan. Some insurers offer low premiums but will force you to get car maintenance done at the dealer and overcharge you for parts. Doing some light research on the internet about different insurers in the area should help you find the best fit for you. Most insurance agents are also available via online chat if you have any questions.
Saving money on car insurance isn’t as difficult as you think it may be. For the most part, it only takes a little time on the internet and a couple phone calls to get your coverage discounted. So, what are you waiting for? Get started saving!
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