Car insurance is likely one of the more expensive bills you have every month. While it is a must to drive legally there are ways you can go about cutting down on your auto insurance costs. Some of these methods will not always work, depending on where you live and your current insurance provider, but make sure to look into these different options. Even cashing in on one of the options can help you slash your insurance costs by hundreds of dollars every year.
Compare Insurance Quotes for FREE >>
Ask About Discounts
It’s pretty amazing what you can receive if you just ask about it. There are all kinds of ways to cut down your insurance costs through your insurance provider. There are good driver discounts and good student discounts. Perhaps you don’t drive as much as the average driver, which can influence the cost of your insurance policy (this is especially the case if you work at home). So talk to your insurance provider and see what options you have
Bundle Insurance Policies
One way to cut down on your auto insurance costs is to combine it with other insurance policies you have. If you have home insurance, health insurance, life insurance, and other policies you should talk to your auto insurance provider and see if you can combine the coverage. Now, this does make it a bit more of a challenge to leave the insurance provider, should you want to later down the road, but it is one option to potentially slash what you pay on your auto policy.
Shop Around for Auto Insurance
Just because you have auto insurance through one service provider does not mean you are locked in with them for the rest of your life. There is a good chance that other insurance providers in the area actually offer a better rate. Some even offer discounted rates to help attract new clients. So talk to the other insurance providers in the area and see what they can provide you. Then, take this information and talk to your current insurance provider. Tell them you’re considering a move and that you want them to match what another provider is offering. If they can’t, then it might be time to move.
Lower Premium For a Higher Deductible
This will save you money in the short term (and in the long run, if you’re a good driver). By taking advantage of this option you will reduce the amount of money you pay on your monthly premium but you will end up paying more of a deductible in the event of an accident. For example, instead of paying the first $200 before insurance kicks in you might need to pay the first $500 before insurance kicks in.
Go Over Your Auto Policy
Comb through the expenses on your policy. Do you really need everything you’re paying for? Perhaps you already have AAA but are still paying for roadside assistance through your insurance provider. If this is the case you can drop your roadside assistance coverage. There are a number of options you can remove from your policy to help save you money.
There are Many Ways To Save On Car Insurance
These are just a few of the ways you can go about cutting down your car insurance costs. You will need to weight the pros and cons of these, especially when it comes to switching from one insurance provider to another. You likely don’t want to switch to an inferior provider just to save a few dollars per month. Just keep everything in mind and go over all your options to see how much money you can save.