You Can Pay Less for Car Insurance

Car insurance is a necessary expense for drivers. It’s required by law for all vehicles to have adequate insurance coverage. It’s also worth pointing out that insurance can come in handy if you’re in an accident or your car gets stolen or vandalized. Needless to say, it still increases the costs of car ownership by hundreds if not thousands of dollars each year.

It’s true, you may not be able to eliminate car insurance altogether (or at least it wouldn’t be wise to), but you can reduce how much you’re paying.

Shop Around

Every year it’s worth taking a look at other car insurance providers to see what they have to offer. You may find that another service provider is willing to give you coverage for less. Don’t just stick to top brands either, often you can find local or smaller car insurance companies who can offer the same protections that won’t charge as much. Try getting at least three different quotes.

Pay Premium Annually

When you look for car insurance online, you’re often provided with an opportunity to pay the premium in monthly installments or to pay for the year. When paying annually, you tend to save several hundred dollars. Not to mention, you won’t have to worry about the bill for the next 365 days. If you don’t have that much upfront, try applying for monthly installment loans. They don’t do credit checks and if you qualify you could get the cash upfront to pay off your premium.

Add Other Policies

Lots of car insurance companies also offer other forms of insurance like home, renter’s, and life. When you choose to purchase all of these policies from one provider, they will offer you a lower monthly rate. The same is true if you have more than one vehicle or driver in the home. Essentially, the more business you give the insurance company, the more savings they pass down to you.

Ask About Discounts

If you want to save money on your car insurance sometimes all you have to do is ask. Contact your insurance provider or companies you’re considering working with to find out what kinds of discounts they provide. Some will offer you percentages off if you belong to certain organizations or work in certain professions.

Raise Your Deductible

The deductible is the amount you’re required to pay in the event that you need to file an insurance claim. The more you’re willing to pay out of the pocket, the less the insurance company charges you for your premium. Just be sure that you don’t increase it to an amount you can’t afford because it could backfire if you’re in an accident.

There’s no getting around the need to have adequate car insurance. If you get caught on the road without it, you could end up getting a fine, or even worse, end up in a serious accident where you’re not protected. If car insurance premiums are costing you an arm and a leg, the best solution is to look for ways to slash that price. Use the above tips to help you reduce the costs of insurance so you can protect yourself on the road without breaking the bank.