Whether you’re new to buying car insurance or not, the process of signing up for a plan can be a daunting task. These simple tips will help you figure out how to get the right insurance while saving money.
Credit Score
Insurance companies in pretty much all states use your credit score to work out your insurance premium. If you have poor credit, the statistics indicate you are likely to have a higher risk of auto accidents. So, work to improve your credit score.
Combine Policies
If you cover more than one driver or vehicle with the same insurance provider, you could get a discount. You can choose to bundle home or renter’s insurance with the company that provides car insurance to save more. But first, check with the insurance company if you qualify for a discount.
Drive Safe
Some insurance companies offer over 20% off if you have a clean driving record. Being mindful behind the wheel can prevent serious accidents and keep your insurance premium low.
High Deductibles
If you can afford a higher deductible, you should increase it. Check with your insurance agent about how much you can save on your insurance premium before choosing to hike your deductible.
Anti-Theft Systems
Choose to buy a car with anti-theft systems or install such a device in your car. Several insurance providers, in fact, offer discounts if your vehicle has systems like these.
Cancel Coverage
Check your policy declarations and look for any optional coverage, like car rental coverage, and cancel it immediately if you don’t need it. Check the cash value of your car and see if it makes sense to have comprehensive and collision coverage as well.
Ask for Discounts
Insurance companies often have discounts that they don’t advertise. Ask if being affiliated with any groups, having military experience, or paying your entire premium in advance can save you a substantial sum.
Telematics Plan
Also called pay-as-you-go coverage, this involves a device or an app that tracks your miles and driving behavior. If you drive fewer than 10,000 miles a year, you could save money. You can also save money on your insurance premium if the data shows that you’re a safe driver.