Auto insurance is one of the costliest expenses that comes with owning a car. No matter how old you are or what type of car you drive, car insurance is a necessity. Be sure to do your research and look into companies that focus on affordable car insurance. Car insurance is important for everyone and if you can find the best deals, as well as protecting you and your car, why not? However, there are a few things you can do to cut down your monthly bill. Use the tips below to learn how to save money on auto insurance.
Buy the Right Car
The car you own plays a role in your insurance rates. If you are purchasing a new car and need insurance to go along with, make sure you choose the vehicle wisely. Make a short list of car models you are considering. Then, ask your insurance provider for quotes on each model. Though this should not be the only factor you consider when selecting a car, you should still think about it.
Set the Deductible
By choosing a higher deductible, you reduce your premium. This is because you pay more out of pocket if you ever make a claim. If, for example, you raise your deductible from $200 to $500, you can lower your premiums by 15 to 30 percent. With a good driving record, choosing a higher deductible can be the way to go.
Review the Coverage
Check over your accident insurance, collision, liability insurance, and others through companies like Florida Truck & Trailer CO. Make sure you at least meet the state minimums. It is often a good idea to purchase more insurance than what the state requires. This will save you money in the long-term.
Raise Your Credit Score
In most places, car insurance companies factor in your credit score when calculating your car insurance rates. Double check to see if your insurer does this. If so, take some steps to improve your score or maintain it, if it’s high. Check for errors, don’t open new lines of credit, and always make payments on time.
Look for Discounts
Ask your insurance company if they offer any discounts. Most companies do, but they do not advertise them. So, you must ask about discounts directly. Some insurance companies offer discounts for:
- Anti-theft and safety features
- Driving courses
- Students with good grades
- Multiple policies
You never know what else they may offer discounted rates for, so be sure to ask. There are plenty of ways you can save money on your monthly car insurance payments. These are just a few places to get started. With just a little bit of work, you can save hundreds every year on your car insurance bill.
About the Author:
“This article was written by Dixie Somers. Dixie is the proud mother of three girls and wife to a wonderful husband. She is a part-time blogger and freelance writer, and she enjoys writing for several niches, including business, family, and finance.”
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