10 Ways Your Car Insurance Can Help You Get Ahead in 2019
by The Vantage Group LLC CEOWith the arrival of 2019 comes a new time
to make resolutions, and hopefully keep them. While some may vow to
quit smoking, lose 5 pounds, or start saving more money, this is the
perfect time to start reaching your goals. One way to save some extra
money that you might not be conscious of is lowering your car insurance rates.
While comparing car insurance quotes is the best way to save money,
there is still between 20% and 30% of the population that doesn’t
comparison shop.* Here are InsWeb’s Top 10 Ways to Save on car
insurance.
1. Shop and Compare Rates Every 6 Months
In 2019, if you check your car insurance
rates in January, make sure your check them again in June. According to
an independent study, people who compare rates and switch carriers at
InsWeb.com save an average of $301* on a six month policy. Consider the
savings over 12 months! Tickets or no tickets, you’re a different driver
than you were last summer. Get updated quotes and see what your
individual savings could be.
2. Select Higher Deductibles
Simply
put, the higher your deductible, the lower your premium. Indeed the
cost of an accident will be that much more expensive; however, if the
damage is minor (grey zone in making accident claim), you’ll be spending
the same out-of-pocket amount regardless.
3. Make a Cheaper Policy Even Cheaper: Don’t Pay in Monthly Installments
Additional
administrative fees are commonly applied to payments when you split
your premium in to installments (i.e. monthly, semi-annual, annual). Be
aware that a monthly fee of even $7 can add up to $84 over 12 months.
4. Look for Multi-Line Insurance Discounts
The
most under recognized car insurance discount results from the
multi-line insurance policy: buying your auto insurance and your
homeowners insurance from the same insurance company. According to the
Insurance Information Institute, a multi-line policy can save you up to
15% on both premiums.
5. Collect on Your Good Driving
Most
insurance companies reward good driving with lower premiums. In fact,
in some states a good driving discount is required by law. If you
haven’t had any accidents or tickets in the last three to five years,
shop at InsWeb.com and see whether you are missing out on this money
savings discount.
6. Don’t Overpay for Tickets
Unfortunately
moving violations are an accurate reflection of your liability to an
insurance company, and your rates can skyrocket as a result. Perhaps you
deserve a higher rate, but don’t let the insurance company unduly
punish you. Shop around and see if you can find a more reasonable rate
with another company.
7. Look for Safe Vehicle Discounts
Many
companies offer discounts for various safety features on your vehicle,
including air bags, alarms, factory-installed mechanical seatbelts and
antilock brakes. In getting updated insurance quotes, be sure to
indicate such safety features to benefit from available discounts.
8. Don’t Overpay for Your Unnecessary Coverage
You
may be paying for coverage that you don’t need. For example, you may be
a member of an auto club that provides towing services, yet you’re also
paying for towing on your auto insurance policy. Look for opportunities
to eliminate unnecessary costs.
9. Look for a Good Student Discount or Senior Discount
Students
currently enrolled in school often receive a discount on auto insurance
for good grades, as many companies feel conscientious students make
conscientious drivers. Similarly, insurance companies are known to value
the wisdom of an experienced driver, offering discounts to drivers over
50 as a result.
10. Pay Less for Driving Less
Many
insurance companies will offer discounts on vehicles that incur low
annual mileage. In fact, some companies have a predetermined number of
what they consider low mileage. Has your commute changed? If so, it
might save you money to get an updated quote.
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Created on Jul 24th 2019 21:08. Viewed 327 times.
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