10 Tips To Save Money On Car Insurance

Who Doesn’t Like A Top 10 Tips To Save Money List?

Save Money On Car Insurance

I have seen a lot of these lists, and they seem to be very popular. So I decided to gather the best, tested tips that can help you reduce your car insurance premiums. Since this is one bill that almost all families have to pay, and since most of us are looking for ways to cut our bills, I figured it was a timely addition.

If you have any tips or tricks, please register and comment. Comments do have to be approved, but we love to publish any real thoughts you have.

Tip #1

Compare. Compare. Compare. Seriously, you should know by now that auto insurance companies are not all the same. And lots of times the so-called discount insurer that is always on TV will not be the cheapest one for you. You may get the best deal from Essurance, but you may do better by talking to State Farm or Progressive Auto Insurance.  It all depends upon your own unique situation  and the discounts you could qualify for that the particular insurer offers.  A quick and simple online form can help you compare multiple car insurance quotes.

Tip #2

Figure out why your current rates are the way they are. This could involve calling your current insurer and asking them to go over your policy with you. Sometimes you could have a great driving history ad get smacked by a rate increase because your credit score dropped. When you have this information, you know that you need to shop for an insurer who will value your good driving history over some credit issues.

Tip #3

Does your insurer know your driving habits? If you only drive to the grocery store and your kid’s soccer matches, you could be entitled to a low mileage discount. If you do use your vehicle to commute, figure out how much  you could save by switching to the van pool. It’s the GREEN thing to do too.

Tip #4

Can you buy a green car (hybrid)? Some car nsurers are discounting hybirds now. They figure that the type of driver who buys a green car will be more responisble and less likely to make a claim.

Tip #5

Increase Your Deductible. A $500 – $1,000 deductible increase could reduce your premiums 15% or more. Sure, you will have to pay that extra money if you have an accident. But you could put aside some of your savings for an emergency too. That is always a good idea anyway. If your auto insurance bill is $150 a month now, a 15% savings adds up to almost $300 a year!

Tip #6

Take advantage of discounts. Some insurers disccount for all sorts of things, and you may not even know about some of them. This is also why the insurer who is not always thought of as a discounter may actually be cheaper than the one that is famous for being low priced. A lot of the low priced companies keep that reputation by cherry picking. The larger and more stable company may actually offer home and auto discounts, multiple policy discounts, etc. This is really important if you have a high risk driver, like a teen, in your family. The larger company may be more willing to aborb the risk to get all of your family business.

Tip #7

If you are shopping for a new car, consider the insurance price. It is important to find out the cost of car insurance before you decide what your budget is. Many vehicle buyers got unpleasant surprises when they actually had to insure that bargain car.

Tip #8

Should you only keep your reuired liability on an older car. You can argue this either way. But when your car starts to get older, the book value may be quite low. If you vehicle is declared a total loss, you know you will not get more than the book value out of the insurer anyway. You will be responsible for the whole loss if you are involved in a wreck (that is your fault) though.

Tip #9

Watch your driving. This may be obvious, but you know that tickets and wrecks will get noticed by insurers, and will cause rate increases.

Tip #10

Consider paying small claims out of pocket. Yes, you purchase auto insurance to protect you against claims. But if dinged your neighbor’s fender when you backed out of the driveway, consider paying out of pocket. If it is close to your deductible, you will not be out a lot of money, and you won’t have a wreck counted against you with your insurance company.

Got more money saving tips? You can register for free and post them in the comments!

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