If you own a car, you’re going to have to pay for car insurance. Unfortunately, there’s no getting around it. It’s frustrating, but at least there is a way around paying far too much for your car insurance. It is all too often that consumers pay their bill without really knowing all of the ways to save. It is extremely useful to do a little extra research. There are a number of ways that many people can reduce their car insurance rates. Here are some smart ways to save on your car insurance.
1. Shop Around
It is easy to chose an agency and then just stick with it, but you shouldn’t get so comfortable that you’re not looking for the best deals! It’s important to get at least three price quotes, which can be achieved by either researching the information online or calling the company directly. Depending on what state you live in, your state insurance department may provide comparison of the prices charged by all of the leading insurers.
It’s important to remember that in addition to looking at different insurance companies, you should also look at different types of insurance companies. There are some insurers that sell through their own agents, and others that sell through independent agencies that give policies from a number of different insurance companies. There are also a lot of insurers that will sell to consumers over the phone or the internet.
2. Buy Your Auto Insurance From The Same Company You Buy Your Homeowners Insurance From
There are a number of insurers that give discounts to those who “bundle” more than one type of insurance, or those who have more than one vehicle insured with the same company. Bundling shows that you’re a loyal customer, and for that the company wants to reward you. Make sure you take advantage of these rewards. But even with this idea in mind, one should still consider shopping around. Depending on how much your insurer charges, it’s possible you could save more money buying from different companies than from bundling with an expensive company.
3. Reduce Coverage on Older Car
When it comes time to renew your insurance, you should review your coverage instead of just blindly renewing it. It is important to make sure that your insurance aligns with your current needs. If you car’s value is less than 10 times the premium, buying the coverage will most likely not be cost effective. If you notice that this is the case, it is a good idea to drop your comprehensive coverage, your collision coverage, or both in order to save. There are many user-friendly ways that consumers can research the value of their vehicles online. A couple of the free sites available are Kelley, TrueCar, and the National Association of Auto Dealers (NADA).
Auto insurance is something that all car owners have to deal with. But there are many ways that these costs can be decreased that you may not know about. Make sure you remember these tips when you’re paying your auto insurance so that you can save as much as possible!