Let’s face it, car insurance can be a real budget crusher. If not, why does it always feel like you’re paying an arm and a leg for your car insurance? Well, that’s all going to end today because we’ve got some insider tips to help you slash those premiums and keep some extra cash in your pockets.
Source: Pinterest
Check out these 10 hacks for cutting costs on your car insurance.
Bundle Up!
No, we’re not talking about bundling up in layers to stay warm. We’re talking about bundling up your insurance policies.
Source: Pinterest
Many companies offer discounts if you purchase multiple policies from them, such as combining your auto and home insurance. It’s only wise to use a stone to kill two birds.
Drive Safe and Save
It’s really just simple mathematics; fewer accidents and tickets will usually equal lower insurance premiums. So, do your best to drive safely. Avoid speeding, keep your eyes on the road and always buckle up (as those you’re driving should do the same).
Source: Pinterest
In addition, many insurance companies offer discounts for completing defensive driving courses. So, it pays to upgrade your skills behind the wheel.
Shop Around for Different Policies
Sure, it’s tempting to want to stick with the same insurance company year after year out of convenience. However, in the world of insurance, loyalty does not always pay off.
Source: Pinterest
Do well to take your time to shop around and compare quotes from multiple providers. You might be surprised at the savings waiting for you.
Raise Your Deductible
We totally get it; nobody likes the idea of putting out more money upfront in the event of an accident. But here’s the trick: raising your deductible can slightly lower your monthly premiums.
Source: Pinterest
Just make sure you have enough cash stashed up to cover that higher deductible if the worst (in the case of a bad accident) should ever happen.
Take Advantage of Discounts
Did you know that insurance companies offer all kinds of discounts and benefits for different reasons? From being a good student to having certain safety features installed in your car, there are plenty of ways to save.
Source: Pinterest
But be sure to ask your insurer about any discounts you might be eligible for. You might just be pleasantly surprised and lucky to benefit from any of their discounts.
Drive Less, Save More
Hey, sometimes you just need to hit the road and breathe a little, right? It’s also a form of relaxation. But then, if you are truly looking to save on your car insurance, cutting down on your mileage can do magic.
Source: Pinterest
After all, the less time you spend on the road, the less likely you are to get into an accident. So, consider carpooling (sharing cars), using public transportation, or even walking whenever you can.
Maintain Good Credit
Believe it or not, your credit score can have a big impact on your car insurance premiums. Insurance companies use it as a factor to determine your level of risk. So, maintaining good credit can lead to lower rates.
Source: Pinterest
Remember to always pay your bills on time, keep your credit card balances low, and monitor your credit report regularly to ensure accuracy.
Choose Your Car Wisely
The kind of car you decide to use can do a lot, either good or bad. Before you go ahead and buy that sparking sporty car, ensure to consider how it will affect your insurance premiums. Generally, older and more affordable cars are cheaper to insure, and you know why already.
Source: Pinterest
That being said, while flashy cars can get your friends and colleagues to envy you, they could empty your bank account when it’s time to pay for insurance.
Negotiate Smartly
We must say this; never be ashamed to negotiate with any insurance company. If you have been a loyal customer or maybe you have a good and clean driving record, it’s even better, as you might be able to score a lower rate by just asking.
Source: Pinterest
And if at all you get a no, it’s fine. It doesn’t hurt to try. It’s better than to miss out on an opportunity to get a discount.
Review Coverage Regularly
Last but not least, life changes, and so do your insurance needs. That’s why it’s absolutely important to review your coverage often to make sure you are not paying for more than you need.
Source: Pinterest
If, for instance, you have paid off your car loan, you might be able to drop collision coverage and save some cash. Consider this a call to assess your coverage today and make the necessary adjustments.
Driver Smarter to Earn Bigger!
By implementing these 10 tricks, you can navigate the road of car insurance with ease, know-how and confidence. With time and effort, you can start saving big on your premiums.
Source: Pinterest
Hence, ensure to start putting these tricks into action as soon as possible. We are rooting for you big time!
