As the cost of living rises, many people feel squeezed by the economy and are looking to cut costs in any way they can. It’s possible to reduce auto insurance costs as long as you maintain state requirements.
How to Save on Car Insurance Costs
There are various cost-cutting methods when it comes to car insurance, some of which you can control. Here are some of the most common ways to cut monthly premiums.
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Use Multi-Car Discounts
Auto insurance companies attract clients through multi-car discounts, such as for families or organizations. Ask your insurer about these discounts, which can give you as much as 40 percent off.
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Drive Safely
You can reduce your auto insurance costs by maintaining an excellent driving record. If you haven’t been in any accident nor gotten any tickets, you’re in a good position to get a discount.
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Take a Defensive Driving Course
By enrolling in a defensive driving course, you’ll demonstrate to your insurer you are reducing risks, which could qualify you for a discount.
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Shop Around
Using the internet to get multiple auto insurance quotes is a fast and easy way to compare coverages within your budget.
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Use Public Transport
Another way to lower your car insurance bills is to drive fewer miles and use public transportation such as buses and trains.
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Downsize Your Vehicle
You might get a break in car insurance premiums when you downsize to a smaller vehicle. It’s possible to get a 5 percent discount on a hybrid vehicle.
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Raise Your Deductibles
Your deductible is the amount you pay first before your auto insurance coverage kicks in. Increasing this upfront cost will lower your monthly payment.
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Improve Your Credit Scores
Your credit score follows you around, even when you drive. Raising your credit score shows the insurer you are reliable at paying bills on time.
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Consider Your Location
Moving from a high-crime zip code to a low-crime zip code suggests that you are lowering risks, resulting in lower premiums.
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Review Your Coverage
Periodically review your coverage and ask yourself how much of it is useful and what parts you don’t need.
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Install Anti-Theft Devices
Anti-theft devices such as alarms can reduce the chances of a burglary. Ask your insurer about what types of devices will lower your premiums.
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Speak to Your Agent
Since insurance agencies typically don’t advertise discounts but still make them available, ask your agent about discounts you may qualify for.
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Choose Pay-As-You-Go Insurance
Another way to reduce insurance premiums is to keep mileage low while enrolling in a usage-based insurance program.
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Research Other Discounts
Auto insurance cost-cutting ideas may also be found through memberships and lump-sum payments.
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Eliminate Coverage You Do Not Need
While you need to maintain state requirements for auto insurance, you can customize your policy from there and eliminate coverage you do not need.
Insurance costs are different for every driver, based on factors such as age, residence, driving record, and history of filing claims. Contact us at Burton A. Harris Insurance Agency for more information on securing the best auto insurance for your needs.