With all of the things to take care of around your house — bills, groceries, cleaning, etc. — people have a tendency to forget about a very important thing: their car insurance. But don’t worry! We’re here to remind you how easy it is to save tons of cash on auto insurance. So, keep reading.
Compare Quotes
The insurance industry is competitive, so it makes sense to do a little research before you buy. Given this, make sure to do lots of comparison shopping. Always get at least three quotes before you settle on one particular plan.
Bundle Policies
You can save money on insurance by bundling your policies. For example, you might get a multi-car discount when you insure more than one vehicle under the same policy, or you might get a discount for insuring your home and your car with the same company.
If you’re going to add an inexperienced driver to your policy, make sure that he or she has a clean driving record—you’ll want to avoid raising your rates because of last year’s accident involving your teenage son.
Park Your Vehicle in A Garage
Your parking spot makes a difference to your insurance rates. If you park your car in a public garage or on the street, your insurance company may raise your premium. This is because the chances of something happening to your car are higher when it’s not in a locked garage or driveway.
Show Off Safe Driving Skills
It’s no surprise that good drivers can get a break on the premium from their insurer—but it’s not just your driving record that matters. Some insurers offer discounts if you install a device in your automobile that monitors your driving.
Raise Your Deductibles
Your deductible is the amount you have to pay before your insurance coverage kicks in. For example, if you were in an accident and your car needed $2,000 worth of repairs, you would pay $500 (if your deductible is 25%), and your insurance company would cover the rest. Increasing your deductible can reduce your premium.
Opt for Annual Premium Payments
If you pay your insurance premium on a monthly basis, you still have to make an upfront payment of several hundred dollars. However, if you pay it annually in a lump sum, you could get a discount from the insurer.
