When you can’t afford an exotic sports car, the next best thing is to save money on your everyday car. With car insurance premiums continuing to increase every year, it’s important for drivers to find cost-cutting measures that don’t sacrifice safety. If you are one of millions of Americans who struggle to pay for your car insurance each month, this article will offer some ways to reduce your bill and keep driving responsibly on the road. Reducing the cost of your car insurance premium should be a top priority if you are currently spending too much on coverage each month. Whether you lease or purchase a new vehicle, buying car insurance is almost always mandatory in order to drive legally in all states. In fact, most finance companies require drivers to maintain collision and comprehensive coverage before they will give them financing for a new or pre-owned vehicle. In this blog post, we share 5 ways that you can save money on your car insurance policy:
Ask For A Discount
If you are a good driver, you should always ask for a
discount. There are dozens of car insurance companies available and each one
has a different rating system for determining rates. As such, it is important
to call your insurance company or agent and explain that you would like to see
if you qualify for a cheaper premium. Always remember that certain actions are
likely to increase your premium – and driving history is one of them. If you
have had multiple claims or have been involved in an accident in the past, be
upfront about it when you talk to your insurance company. For example, if you
have had a lapse in insurance coverage, you may have difficulty finding a
company willing to insure you based on your driving history. If this is the
case, the best thing you can do is find an insurance company that will offer
you a lower premium.
Bundle Insurance And Repair Services Together
If you frequently file claims, you will likely see your
premium go up. If you are having trouble finding an affordable rate to match
your driving history, consider bundling your insurance with a reputable repair
shop. While it may seem like a conflict of interest, the repair shop may be
able to offer you a discounted rate for complete coverage. If you regularly
file insurance claims, your premium will likely increase. Repair shops have
access to similar databases as insurance companies, so they may be able to
offer you a lower rate as an alternative to filing an insurance claim. If you
have a great relationship with a repair shop, you may also be able to negotiate
a lower cost for repairs.
Drive Safely To Avoid Paying For Past Offenses
If you have a clean driving record but still find that the
cost of your premium is too high, consider taking a defensive driving course.
Many insurance companies offer discounts for drivers who have completed a
defensive driving course in the past 12 months. If you are able to complete a
course online, you can also receive a certification that is accepted by
multiple insurance providers. You may also be able to avoid paying for your
course upfront and instead use it as collateral for a lower premium. If you are
behind the wheel, be vigilant about the way you drive. Avoid swerving in and
out of lanes, driving over the speed limit, and tailgating. These driving
habits will help you avoid paying for accidents in the past that you were not
responsible for.
Install An App That Helps Monitor Behavior
While installing an app that monitors your driving may seem
like an invasion of privacy, it also has the potential to save you money on
your premium. Some apps can detect hard braking, frequent acceleration, or
speeding while you are behind the wheel. If your driving habits are negatively
affecting your premium, consider installing an app that will help you drive
more safely. Some apps, like TrueDrive, will give you feedback to help you
improve your driving. While installing an app that monitors your driving may
seem like an invasion of privacy, it also has the potential to save you money
on your premium.
Cancel Unnecessary Coverage
If you have recently purchased a new vehicle, you should
check your coverage to make sure you have the correct amount of liability. If
you bought a vehicle with a high value or an exotic vehicle, you may want to
consider increasing your coverage. As you continue to drive, your premium will
change based on your driving history. This is why it is important to review
your coverage on a regular basis. If you have recently purchased a vehicle, you
should check your coverage to make sure you have the correct amount of
liability. If you have recently obtained a new car with a high value or an
exotic vehicle, you may want to increase your coverage. As you continue to
drive, your premium will change based on your driving history. This is why it
is important to review your coverage on a regular basis.
Conclusion
There are many ways to save money on your car insurance
policy. To begin, ask your insurance company for a discount if you have a clean
driving record. You can also bundle your insurance policy with a repair shop
that has good reviews. Finally, be vigilant about your driving habits and avoid
filing unnecessary claims.