Most motorists know that they can save money on auto insurance if they maintain a good driving record or bundle their insurance policies. But they often overlook the other ways they can save money.
For example, some insurers will give discounts to engaged couples or to farmers. You can also get discounts if you’re a part of specialty groups. There are many reasons why insurers offer non-traditional discounts to motorists. It’s up to you to learn what’s available with your provider and take advantage of them – if you want to save money.
The size and availability of car insurance discounts vary by company, location, and motorist, so research is important. Apart from discounts here are some others ways to slam the brakes on rising car insurance costs.
Prune your coverage on older cars
When the insurance is costing a lot more than the value of the vehicle itself, you should consider removing the comprehensive and collision insurance. Look up the estimated value of your vehicle online and reduce the coverage if necessary.
Ask for discounts
Insurers offer discounts to motorists because it helps them compete in the very competitive market of auto insurance. Installing security features on your vehicle reduces the insurer’s risk, so they’ll be more receptive to your request for a discount. As long as you have anti-lock brakes and a car alarm installed, you should qualify for a discount. You’ll also get a discount for taking a defensive driving course and for being a loyal customer. These are all discounts that the company won’t advertise, so be a smart consumer and ask for them.
Dig up competing quotes
Getting quotes from competing companies may be a lot of work, but the payoff is one that your pocket will welcome. Get your hands on a car insurance buying guide for your area, so you’ll have an idea of what your rates should be. Visit a few comparison sites to get the top 5-7 best quotes. To be absolutely certain you’re getting the best rate, you can then call up independent agents to see if they can beat the rates already provided.
Remember, you should compare apples to apples, so ensure that you’re not sacrificing coverage when you choose the lowest price.
Drive less
You can cut the cost of your auto insurance if you drive less. Driving less reduces your risk of having a car accident. That reduced risk makes the insurance company more inclined to lower your rate. What’s more, some companies offer pay-as-you-go plans to drivers based on the number of miles they drive. It’s something you should consider if it’s available in your area.
You can reduce your driving by taking the bus, carpooling, and walking whenever you can.
Cutting your car insurance costs requires some persistence, luck, and smart shopping. Check your insurer’s website to see what discounts are available, and call them up when the details are not clear. Most of all, you have to be willing to shop around and change your provider if you want to save money.
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written by: Gillian Kearney
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Image courtesy of Stuart Miles / FreeDigitalPhotos.net
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