Did you know you could possibly save hundreds of dollars per year just by switching your car insurance company?
If you work from home or don't drive your car often, you can even qualify for a premium for low mileage drivers.
Check out these 9 money-saving tips that will help you save thousands on car insurance. They worked for me!
1. Look up discounts
Car insurance companies have tons of discounts that people have no idea about.
You can get a discount on your premium for all sorts of reasons, such as:
- Not being in an accident
- Being a good student
- Combining your house and auto insurance
- Having a brand new car
It's wise to talk with an agent about what discounts you qualify for, as their website may not have all discounts listed.
2. Be over 25 years old
Your car insurance will go down dramatically once you hit this magical age. Don't ask me why.
3. Compare insurance company rates
Get multiple quotes for your car in the area and sign up for car insurance with the company offering the lowest premium.
After comparing quotes, see who will also give you the most discounts.
You may find that one agent has a cheaper quote, but that another agent with a more expensive quote offers more discounts.
4. Drop full coverage on old cars with little value
I ended up dropping all coverage besides mandatory coverage and this took my premium down to $40 a month.
I made this move because my car was worth less than $1,000, so there was no point in me paying for an expensive premium for years.
5. Increase your deductible
Increasing your deductible from $500 to $1,000 can help save quite a few bucks over the span of a year.
Only do this if you are capable of paying that $500 in case you are in an accident, but you won't be! 🙂
6. Drive carefully
Avoiding accidents and tickets can help keep your insurance low.
When you get into accidents, your current and future agents will know and thus your premium will increase.
7. Share a plan with your partner
Combining policies with a loved one will decrease the annual premium.
If you decide to combine your home insurance policy with your car insurance policy, you may qualify for a larger discount as well.
8. Combine insurance policies
Do you have an auto, house, and life insurance policy?
You may want to consider combining all the policies together as you will likely qualify for a pretty good discount.
9. Pay every 6 months
Paying your premium in full can give you a decent discount.
If you have the money to do so, you might as well since you can save a few bucks.
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How do you save money on car insurance?
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