Car insurance is required in every state in the United States. While that requirement isn’t necessarily a bad thing, it does mean that if you own a car, you can count on having to pay for auto insurance. You don’t have to pay the highest price out there, though. There are a few easy actions you can take to keep the lid on your insurance rates.
Raise your deductible.
If you are willing to forego a low deductible amount, such as $100 or $250, and bump your deductible up to $500 or even $1,000 you can significantly cut the cost of your insurance. Just make sure that the deductible you choose isn’t more than you could comfortably pay if disaster strikes.
Slow down.
Speeding tickets, along with other moving violations, are the absolute worst things that can happen to your insurance rates. The pesky little things will stay on your record for at least three years causing your rates to skyrocket.
Shop around for your insurance.
Calling different insurance agents can seem like a hassle, but it often rewards you with a more favorable rate. Invest a little of your time and see if you can chip away at your premiums.
Make sure you’re getting all of the discounts that you’re eligible for.
Some companies don’t offer discounts up willingly, especially if you purchased your insurance over the internet. Call your agent or your company’s customer service center, to find out if there are any other discounts you might be entitled to. Common discounts that are available includes discounts for having multiple cars on the policy, being a good student, completing a safe driving course, or even having anti-theft devices in the car.
Eliminate unnecessary coverage.
If you have three cars in your family and don’t need to rent a car when you’re car is in the shop, you can drop rental coverage from your policy. If your car is rough around the edges, you may opt to drop your comprehensive coverage and carry only the state-required coverage. Be careful, however, to consider all of the ramifications of dropping comprehensive coverage.
{ 3 comments… read them below or add one }
One thing to keep in mind when quote hunting online? Be honest. If you’re required to list things like accident history for example, always list all of them – both at-fault and not-at fault. Your records will be checked regardless and by answering the questions honestly you’ll ensure an accurate quote is given.
Further to the above, always list all the potential drivers of a vehicle, including your kids if applicable.
And be sure to list any driving related convictions if you’ve got any.
And lastly…….Drive Safe!
Lexy
Really good tips. I agree with Ace, you have to watch your credit score. Don’t let zen drive the car, stay focused and reduce your speed(within the limit)
One more that I would add is to keep your credit score healthy. Your credit score is being used for more and more these days, and car insurance is no exception.