’)A new year is upon us! We bet you’re more focused than ever on saving money this year, right? You may be surprised to learn that there are several ways you can save on your car insurance policy this year. Take a look.
1. Insure Multiple Cars
The more cars you have on one policy, the more you save. So add your spouse’s car and even your teenager’s car to your existing car insurance policy. Typical savings are 5-15%.
2. Shop Around
Your momma told you – you better shop around, so why haven’t you done it? The biggest mistake policyholders make is staying stagnant with their current car insurance companies. Your car insurance company got your business years ago, so they probably aren’t concerned about helping you save money now.
By getting quotes from other companies, you can see if you can save money somewhere else. If you love your company, you can take the quotes you get to your insurance agent and ask if he can lower your price to keep you.
3. Look for Discounts
Every car insurance company offers some kind of discount. These can include, but aren’t limited to:
• Good driver discounts
• Airbag discounts
• Good student discounts
• Discounts to members of certain organizations
• Military discounts
• Multi-policy discounts
You may not be taking advantage of all the discounts you’re eligible for, so check with your company to see what kind of savings you can get. Typically you can save up to 20% with these discounts, and you can usually stack them.
4. Be a Good Driver
As mentioned above, many insurance companies offer savings to drivers who have good records. Typically they look for 3 years or more of accident free and traffic violation free driving. You can save on average 15% if you qualify.
5. Take a Driving Course
What better way to become a good driver than by taking a driver’s education course? Whether you’re a teen driver or an experienced driver, the course will help you and it will also help you save 10 to 15% on your insurance policy.
6. Be a Good Student
Car insurance for teens can cost double what it costs for any other demographic, so find savings where you can. If your teen has good grades, she may be eligible for a good student discount. Check with your company to see what its requirements are.
7. Drive Less
Many companies offer lower rates to drivers who drive under the average number of miles annually. This is a great way to shave off some savings if you have low mileage on your car.
8. Get Less Coverage…on Older Cars
If you drive a car that’s 7 years old or older, consider dropping your comprehensive and collision coverage or raising the deductible. Your car’s value may be less than what any repairs would be, so carrying this type of coverage can be an unnecessary expense.
9. Get More Insurance
Seems illogical, doesn’t it? Buy more insurance and you’ll save on car insurance. But if you add other types of insurance policies, like homeowners, RV or boat insurance, you can qualify for discounts on all.
10. Buy a Cheaper to Insure Car
Did you know that some cars are cheaper to insure than others? Cars with higher safety ratings and that are newer can cost you less to insure. Look online to get ratings on cars you’re considering to buy, and then get insurance quotes on those models to compare rates.
