4 Ways to Get a Big Discount on Car Insurance

Paying car insurance is an expense you must consider when owning a car. U.S. News and World Report The average cost of car insurance is $1,547 per year. However, the amount your car insurance company charges will depend on factors such as where you live, the type of car you own, and how much you typically drive.

You may want to lower your car insurance premiums. Every dollar you don’t pay the insurance company is a dollar you can keep. Here are some strategies you can use to save money:

1. Increase your deductible

If your vehicle is damaged and you file a claim with your insurance company for repairs, you will pay a deductible before the insurance company covers the remaining cost. Generally, the higher your car insurance deductible, the lower your premium. So, if your current deductible is fairly low, increasing it may make your premiums cheaper.

Of course, if you do that, you run the risk of having to pay more in the event of an accident. But think about it this way. If you’re lucky, you may not have to pay any deductible at all for several years in a row. Insurance premiums, on the other hand, are expenses that must be paid every year, no matter what happens.

2. Bundled with homeowners policy

Do you own a home? You should always have insurance. And if you don’t currently use the same company for your auto and home insurance, you could miss out on a discount.

If you get your auto insurance from one company and your homeowner’s policy from another, contact each company to inquire about bundles and see which company has a better offer. If the savings you get from both aren’t particularly impressive, contact the company you didn’t use. Even if you’ve used the same insurance company for years, there’s nothing wrong with shopping around.

3. Maintain a safe driving record

If you have a safe driving record, it sends a message to your insurance company that you are not the type to take risks while driving. And you may receive compensation in the form of lower insurance premiums.

Of course, sometimes life gets the better of us. Speeding can result in you getting pulled over or rushing in and out of traffic. To avoid this, take more time to reach different destinations. It can help you keep track of conditions on the road.

4. Take a defensive driving course.

Even if you are a very careful driver, you can have an accident. Sometimes avoiding accidents comes down to experience on the road.

If you are a new driver, you may not have much experience yet. In these cases, it may pay to take defensive driving training. It’s also a good idea to get one if you’ve had a black mark on your driving record, perhaps due to a recent traffic violation.

That means don’t just search for a course online, pay for it, and wait a day. Instead, contact your insurance company and ask about approved courses. You don’t want to waste your time and money on a course that doesn’t change your premiums one bit.

The lower your car insurance bill, the easier it will be to manage your costs. Follow these steps to lower your car insurance costs and save money you’re not spending on yourself.

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