How To Save Money On Your Car Insurance

a girl driving a car

Congratulations!!! You just got your new car, how do you feel, great right? Well before you start driving and cruising in your new car, get your car insurance first.

Car insurances have become significantly important due to the many benefits car insurance brings.

Car insurance is a contract between you and an insurance company that financially protects you against physical damage, car theft, car accidents and injuries, pain and distress to others caused by you while driving.

The importance of car insurance can’t be overlooked. However, after buying a car, the search for car insurance can be stressful due to the expense and charges of car insurance

What if I told you there are better ways to save money on car insurance, will you believe me?

Well, let me prove it to you. Below are ways to save money on car insurance.

1. Get multiple quotes from insurance companies before you buy a car.

This helps you compare the prices of other car insurance companies. While comparing prices, remember just because another insurance company has a lower rate doesn’t always mean it is the best, do your due diligence and research more about the insurer’s creditworthiness, financial strength and other important factors before making a decision.

2. Reduce optional insurance on your older car.

3. Raise your deductible on your car insurance.

Generally, a deductible is the amount you would pay out of your own pocket in case of theft, damage, or other accidents. It is important to note, that the lower the deductible, the higher the premium. Ask your agent how your premium might be affected if you raised your deductible, your insurance premium could be improved by several percentage points, putting some money in your pocket, or you might be able to save only a few dollars

4. Take advantage of low mileage discounts.

5. Bundle your insurance or stick with the same company.

Various car insurance companies will give you discounts when you bundle your insurance. For example, you can bundle your auto and home insurance policies together or you can have more than one vehicle insured. Renter’s, homeowner’s, and umbrella insurance coverage, among others, are all eligible for bundling discounts.

6. Reduce Your Coverage.

7. Combine multiple insurance policies.

A multi-car insurance policy is a policy with several cars, trucks, or other vehicles on it. When you bundle vehicles, you can save money.

This may also be called a multiple vehicle policy or a “schedule of vehicles” policy.

Policies like this are typically available only for “passenger” vehicles. However, there may be discounts available if you add RVs, boats, motorcycles, and scooters to your insurance.

8. Pay by the Mile

This is another way to save money on your insurance. For those of us who don’t drive that often and drive below 10,000 miles per year, this is one way to save money on your insurance. If you drive below 10,000 miles per year, then you are qualified for this method. Here is how it works, the insurance company will give you a small device, called a telematics device that will be installed into your car to track your mileage and when your drive below 10,000 miles per year, you may be able to save money on your car insurance.

9. Drive safely to avoid accidents.

10. Get discounts you are entitled to.

Car insurance companies provide a variety of discounts to car owners and this can help you save money. Some of these discounts are automatically included when you get your quote, while there are some you will have to ask if you qualify for it. Some of the discounts you will need to ask if you qualify for good student discounts, homeowners insurance discounts, affinity discounts, work-related discounts and more.

Bottom Line

Owning and driving a car is one of the best feelings in the world and you shouldn’t have to worry about the expense of car insurance while cruising in your new car. These 10 tips should help you save money on your car insurance and get you driving in the right direction, use the methods, evaluate them and decide which method works best for you.

Happy Driving!!!

About the Author: Esther Ilori

Esther Ilori has been a content writer since 2017 and she currently works as a digital marketing manager at WayMaker Digital. She brings her years of experience to her current role where she is dedicated to educating and inspiring the world on how to effectively use content writing and digital marketing in various companies, careers and to achieve various goals. Links to her published articles can be found here. You can find Esther on LinkedInInstagramFacebook, or Twitter.

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