Auto insurance is something we all have to have. Most people purchase auto insurance when they get their first car, and they probably use whichever company is recommended by family, never bothering to shop around. Today’s economy means most people are starting to make cutbacks in their spending, however many won’t have considered shopping around for cheaper car insurance. This can be a great way to save money without really making any cutbacks.
Consider reducing your actual coverage, or even increasing your deductible, to save money on auto insurance. A higher deductible can mean a much lower premium on your policy. Remember, this increases your out of pocket expense if you should be in an accident. If you have access to a second vehicle, consider whether you really need the rental car and towing option on your policy.
Check with your insurance company to see if they offer discounts for things such as having anti-theft devices in your car, having extra safety features, having good credit, or even being a student or in the military. These are a few often overlooked ways to save on your auto insurance.
If you have enough money set aside, consider paying for an entire year of policy rather than paying monthly. Some insurance companies offer a discount for this, and you can avoid any monthly service fees associated with receiving a regular paper bill. Plus, you will only have to worry about insurance once a year!
An often overlooked and very easy way to get really cheap car insurance is to keep a clean driving record. Avoid speeding tickets and accidents to keep more cash in your pocket. If you have a good record, call your insurance company and discuss a possible discount. If they don’t offer one, call around. Many insurance companies are offering this incentive to good drivers since it saves them money in the long term.
If you are looking for a new company for really cheap auto insurance, don’t forget to get at least three quotes. More would be great, but get less and you run the risk of paying more for your policy. Don’t be afraid to ask a lot of questions and definitely ask about discounts. Most insurance companies are happy to try to save you money if it means they will get your business.
Taking advantage of these suggestions may mean that you can find really cheap car insurance, and can save you hundreds each year. Good luck, and safe driving to you!