How to Save Money on Your Car Insurance

Many people are paying more than they need to for their auto insurance. Many of us don’t realize the discounts we may qualify for or even done the simple task of shopping around and comparing rates between companies.

Compare rates between different companies.

Compare prices online between different companies or even call them directly and inquire about rates and discounts offered.
Check to see if you are eligible for any discounts

*No accidents in 3 years
*No moving violations in 3 years
*Senior discounts if you’re over a certain age
*Drivers courses and defensive driving courses
*Anti-theft devices
*Low annual mileage
*Air Bags
*Anti-lock breaks
*Daytime running lights
*Student drivers with good grades
*Long time customer
*Multiple vehicles

Does your employer or any organizations you are in offer group insurance plans?

Many insurance companies offer discounts to people that purchase their insurance through group plans through employers and organizations. Ask your employer or any of the organizations you are involved in if they offer group insurance plans.

Maintain good credit

Many times your credit rating can effect the price of your insurance. It has been statistically proven that people with good credit have fewer accidents than people with bad credit.

Drive a low profile vehicle

Instead of driving a corvette drive a lower profile vehicle with more safety features.

Ask for a higher deductible

You can save a lot on insurance by increasing your deductible. A common deductible amount is $500 and many times increasing it to $1,000 can save you in excess of 20% or more. It also isn’t a bad idea to keep the amount of your deductible in a savings account in case of an accident.

Reduce coverage on older vehicles

Many of us drive older vehicles to save money. If your vehicle is only worth a couple thousand dollars there is no reason to pay a high insurance premium on it. You could lower the coverage and use the money you’re saving on insurance to open a savings account to cover repairs.

Summary

Auto insurance costs vary drastically depending on what vehicle you drive, your driving history, your deductible and what discounts you may qualify for. The best way to ensure you are saving the most on your auto insurance is to find out what discounts you may qualify for and shop around and compare prices. Remember it’s not always about the discounts it’s about the final price when your trying to save on your auto insurance.