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If you’re tired of huge bills and unexplained fees, it’s time to do something about your auto insurance. Here are just seven ways to put a little money back in your pocket.
1. Compare and Contrast
Before signing on the dotted line, it’s important to understand that car insurance quotes will vary depending on things like age, location, car type and driving history. Different companies weigh these factors in different ways, so never buy insurance without shopping around first.
2. Raise Your Deductible
Your deductible is what you’ll pay after an accident before the insurance kicks in and covers the rest. While some drivers prefer to keep their deductibles low, you can save hundreds a year if you’re willing to accept higher one-time costs in exchange for lower monthly premiums.
3. Improve Your Car’s Safety Features
Strengthen your vehicle against theft so the insurance company won’t charge you exorbitant rates to protect it. Install a state-of-the-art alarm system; upgrade your door, window and steering wheel locks; consider investing in high-end technical security on the dashboard.
4. Raise Your Credit Score
This can’t be done overnight, of course, but if you aren’t quite ready to buy or switch insurance policies, it can be a step in the right direction before you make your final decision. Insurance companies will be much more likely to work with you if you have stable finances and a good credit report.
5. Reduce Your Coverage
Take a look at your policy. Are you paying for more insurance than the state mandates? Many insurance companies offer “bundles” or “protection packages” that include all kinds of add-ons you don’t actually need. Most of the time, all the state requires is liability coverage.
6. Go Back to Class
If your last driver’s ed class was in high school, it’s time to renew those credentials. Proving yourself as a safe, responsible driver can snag you all kinds of savings from insurance providers. You should also make your teens sign up for a course.
7. Stop Driving
It may sound crazy, but many agencies offer “low mileage discounts” for cars that aren’t driven that much. If they spend most of their time in the garage, they’re less likely to be damaged, stolen or totaled. Be sure to ask your insurance provider what they can do for an avid car-pooler.
These are just seven ways to save a little money on your car insurance premiums. Happy driving!
Happy driving!
James Bergman says
I like the idea of going back to driver’s ed class. I honestly would never have thought that it was something that I could do again. If it will lower car insurance costs, then I am definitely willing to do it though. Thanks for all of your helpful tips.