Insurance is necessary, and expensive. Fortunately, there are many ways you can save on insurance premiums. If you own more than one vehicle, if you carry home or life insurance, the simplest way to save on your insurance costs is purchase all your policies from the same company. Putting all your policies together under the same company is called bundling. Companies, understandably, offer substantial discounts on insurance when you purchase more than one policy. It’s also much easier to manage your bundled policies. You only need to see one agent in case of a claim, and you only need to pay one bill.
Another easy method of lowering your auto insurance premiums is choosing a higher deductible. Raising your deductible always saves you money, but there is a catch: You absolutely must have the funds on hand to cover your deductible if you suffer a loss.
Get quotes from more than one qualified insurance provider. They may offer you a better deal on your car insurance premiums once they find out you are checking with the competition.
And if you are a woman, a student, a senior citizen, a member of the armed service, a member of AARP, or over 25, you also get price breaks on car insurance. If your insurer does not offer a discount for your group, you may want to consider coverage with another insurer who does.
Another way to save money on your car insurance is to take a basic or defensive driving course. You must prove that you took and passed the course in order to receive a discount on your insurance premiums. Many qualified insurance providers offer discounts for successfully completing these driving courses because it shows that you are serious about driving safely and responsibly.
Where you garage your car has a lot to do with how much you pay for insurance. Drivers who live in cities will pay more than drivers who live in small towns. Drivers who live in high-risk areas will pay more than drivers who live in low-risk areas. Different companies define “high-risk” differently, so shop around. What is considered a high risk by one company may be OK with another.
If you own a sports car, racing car, or customized car, you might consider trading it in. Anything “special” about a car makes it more expensive to replace, and therefore more expensive to insure. But if you trade in (or trade down) for a vehicle that is not as expensive to replace, it won’t be as expensive to insure, either. See your agent for details.
Finally, if you can’t find a discount from the list above, ask your authorized insurance agent. Many insurance companies have their own programs that help you lower your costs down to an affordable level. Whatever your personal insurance needs may be, your professional insurance agent can work with you to get exactly the coverage you need.
