10 Killer Tips to Cut Your Car Insurance Costs

author avatarPaul Hadley
6th March, 2019
Filed under Car Topics

Car insurance costs are on the rise and they are predicted to remain on the rise for the foreseeable future as well. The reasons for this can be traced back to frequent lawsuits in the country and the ever increasing price of vehicles, but thankfully, there are measures that we can take to cut the insurance expenses by quite a bit.

Do Your Research

Head over to Insuranks.com and research your options regarding the local auto insurance companies, their quotes and the agents operating in your area. Through research and by comparing the quotes from various carriers with each other, you should be able to find the absolute best deal for your car insurance needs.

Insure in Bulk

If you have multiple vehicles and/or drivers that need to be insured, the carrier is likely to give you a discounted quote if you get all your insurance from that one company.

The Good Grades Discount

If you have a teenage son/daughter with grades as high as B average or preferably even higher, then the insurance company might provide a discount (6% – 20%) while insuring him/her. As insuring teen drivers is always costlier, do ask the company if they have an offer like this.

The Good Driver Discount

The worse your driving record is, the higher the premium for your auto insurance will be, so add financial benefits to the list of reasons to be a good driver!

Take the Defensive Driver Course

Depending on which insurance company you are going with, it is quite possible that you may get a discount just for having completed a defensive driving course or an accident prevention course.

Ask About the Mileage Threshold

Different carriers will charge different rates, depending on how many miles you drive per year, but it may not be mentioned anywhere. Ask them directly about the mile thresholds they have and the associated rates/discounts to see if you can’t take advantage of them.

Be Smart About the Car You Buy

The more expensive and bigger your car is, the more you will have to pay for its insurance. On the other hand, a hybrid car or a vehicle running on alternative fuel will most likely be eligible for a discount from most auto insurers.

Raise Your Deductible Amount

Provided you are a good driver with a decent record, consider raising your deductible, because it lowers your annual premium. The deductible amount is the money which you will be paying from your pocket in the event of an accident/theft/damage to the insured vehicle.

Maintain or Improve Your Credit Score

Did you know that your insurance provider might fix the premium based on your credit score as well? Take measures to improve your credit score as soon as possible.

See If You Can’t Drop Unnecessary Coverage

You will have to be careful with this step because no one can predict what will actually cause damage, but you may not need all kinds of coverage and shaving off a few will lower the annual premiums. Also, if your car is old and not in the best of conditions, perform a comparison between the car’s total value and the premium which you are paying annually, to see if it’s worth it.

Since the price of all things are continuing to rise, there is no telling when insurance costs will reach a plateau, but with the help of these ten tips, the premiums should become more manageable for now.

author avatar Written by Paul Hadley

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