Car insurance is a necessity for drivers. Whether you’re opting for liability insurance or comprehensive and collision coverage, it’s important to ensure you’re getting a good deal. Unsure how to lower your car insurance premiums? Here are a few strategies that could help.
Take Advantage of Discounts
If you have more than one car, consider getting all of them insured by the same company. You may be given a lower bulk rate for giving them more business. Ask your agent if you qualify for this discount. Incidentally, some insurers also offer discounts if you maintain different types of policies with them – for instance, if you buy an auto and home insurance policy from the same company, they may offer you a discount.
Drive Safe
This goes without saying, but with all the distractions today, it’s worth mentioning. The more careful you are while driving, the more moving violations and accidents you will be able to avoid, thus, keeping your insurance rates down. Travelers, in fact, offers safe driving discounts up to 23%, and so do many other companies.
Complete a Defensive Driving Course
In some cases, auto insurance companies will offer a discount to those who complete an approved and accredited defensive driving course. This may also allow you to reduce the number of points you have on your license. Make sure to inquire about this discount before you actually sign up for a class. After all, you don’t want to spend money on a course unless it translates into big-enough savings.
Shop Around
If your policy is about to expire, consider shopping around and obtaining quotes from competing companies. The reason for this is twofold. First, it’s possible that the competition has a better price available than your current insurer. Second, it gives you an opportunity to look at your coverage and make sure it still makes sense for you.
Increase Your Deductible
Most people don’t know that they can adjust their car insurance deductible to save some money. When you raise your policy’s deductible, you’re essentially agreeing to pay out of pocket for smaller repairs and maintenance costs. This might seem like a bad idea since you’ll have to spend the money yourself instead of getting it back through your insurance company, but it really is a smart choice if you can afford it and the monthly savings are big enough.