Let’s face it. Everyone likes to save money, but finding real ways to do so can be challenging. One area that many people neglect to consider is their auto insurance. Despite the common belief that insurance is a relatively fixed cost, rates can actually be lowered – and in some cases, quite significantly – provided you know what approach to take. Let’s take a look at 5 real ways to save on car insurance and keep more of your hard-earned money in your pocket.
Leverage Your Deductible – Your insurance deductible is the amount of money you’re responsible for paying in the event that you make a claim. There are different options available to you, and generally speaking, the higher your deductible, the lower your monthly or quarterly premiums will be, so if you’re looking for a quick way to lower your car insurance prices, adjusting your deductible is one way to do so.
Combine Your Policies – Many insurance providers offer attractive incentives to combine or bundle multiple policies together. For instance, you could get a discount if you combine your homeowner’s or renters insurance with your auto insurance. Be sure to inquire on this the next time you’re looking into a car insurance estimate. You might be surprised at how much you can save.
Work With an Agent – You’ve probably seen those commercials on TV advertising low car insurance from large, national providers. What they don’t tell you is that the coverage may not be a good fit for your needs. Furthermore, if you choose to work with one of these outfits, it’ll likely negate the possibility of bundling your policies. A local agent, on the other hand, can work with you to find the ideal product to suit your needs and your budget and may also be able to find you additional savings you weren’t even aware of.
Practice Mindful Driving – The less often you drive, the less likely you’ll be to get into an accident, which is why car insurance providers tend to offer better rates to people who average fewer miles each year. Additionally, the more careful you are when behind the wheel, the better your driving record will be, which you will be rewarded for over time with lower car insurance prices. Be being mindful and making smart choices, you’ll be in a much better position financially, particularly in terms of car insurance.
Ask About Other Discounts – Finally, you may be missing out on additional discounts that you‘re eligible for but aren’t aware of. For instance, most insurance companies offer discounts for things like vehicle safety features, anti-theft devices and even marital status. Be sure to ask about what your options are when you sit down with an agent to discuss available products and coverage.
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