10 Easy Tips for Saving Money on Car Insurance
Everyone has to have car insurance, but it can be a pain to find something that works for you and that you can afford. If you are tight on funds, or if you simply want to save some money, here are ten easy tips for saving money on your car insurance.
- Consider the Car – Before you go out and buy a new car, take some time to consider how the model, make, and year will affect your insurance rate. In general, older cars are less expensive (because they often are less expensive to buy) to insure than newer cars. Flashier cars, like brightly painted sports cars are often more expensive to insure. Check out this site for a list of the cheapest cars to insure in 2011
- Consider your Primary Driver – If you can, the oldest family member should be listed as the primary driver. For example, if a wife is older than her husband, the couple might get a lower rate by listing her as the primary driver. The same thing goes with teens who have their own cars, and their parents should be listed as the primary driver.
- Be Careful! – If you get into a wreck, even just a fender bender, you will likely see your insurance rate increase. Additionally, each speeding ticket that you get will also have an effect on your insurance rate.
- High Deductibles – Choosing a high deductible is one very easy way to lower your car insurance payment. So, if you feel comfortable doing this, go for it. It might not be the best idea if you drive long distances frequently or if you have teenage drivers.
- Bundle it Up – Bundling or combining your insurance policies can reduce the overall payment. So, ask your insurance agent about bundling your homeowners (or renters) insurance with your car insurance. If you have more than one insurance company, you should consider moving all of your policies to one company.
- Take a Safety Course – Check with your insurance provider to see if taking a safety course, either online or something like defensive driving, can lower your payment. It might waste a Saturday, but it will leave you with more money to spend on subsequent Saturdays.
- Reduce the Number of Payments – The less often you make a payment, the smaller the overall amount will be. Monthly payments, for example, often mean that you are paying more fees. Try to pay every three, six, or twelve months to reduce your overall cost. You will have to pay more when you do pay, but you will not pay as much every year.
- Remove the Extras – If your current car insurance policy has extras, like roadside assistance, towing, or car rental coverage, you can often remove them. It might be inconvenient the next time you have to change your own tire, but it will save you money. You should always be sure to review the details of your policy because most insurance agents are going to give you the standard policy, which might not be the cheapest.
- Ask about Discounts – You should make sure to ask your insurance agent about any discounts. Most agents are good about doing this for you, but it never hurts to ask. Discounts might include being over 50, being in the military, etc.
- Drive Less – Many times you will receive a discount on your car insurance if you drive less. For example, you if you can tell your agent you live within five to ten miles of your job, for example. You receive a lower rate because you are at a lower risk of getting into a wreck because you drive less often.