There are many factors on how you can get a cheap car insurance rate. From shopping around to how old you are, hundreds of factors are looked at when auto insurers provide you with a quote. We compiled a list of a few of the top ways you can save money on car insurance. Check them out and start saving some cash today!
1. Get a garage - Having a garage on your property and parking your car in your garage can help protect your car from damage. Car insurance companies are aware of this and often give discounts for those who park in a garage.
2. Own a home – if you own a home, chances are you went through a thorough background and financial check from a bank. Car insurance companies will see you as less of a risk and more likely to pay your bill on time. This equals more discounts for you!
3. Shop around – as we have talked about before, different companies have different rates. So you may be cheaper for one insurance provider then another. Make sure you check around with as many suppliers are possible to get a low rate.
4. Get substandard insurance – there are a few companies out there like Safe Auto, Good2Go and The General that offer sub standard insurance. This type of insurance is about as low as you can legally go. Their rates are cheap, but their coverage is low also.
5. Have a higher deductible – the higher your deductible, the less you will pay per month. Yes you may have to pay more out of pocket if you are in an accident, but you will not have to pay a high monthly bill. It is a small risk, but may be worth taking if you are trying to save money.
6. Combine Insurance Policies – if you happen to have home owners insurance or motorcycle insurance with another provider, bringing them over to your current auto insurance provider and ‘bundling’ can help save you money. If you are bringing over more money to your current provider they are sure to cut you a break.
7. Live in a lower crime area – if you happen to live in an urban area with a lot of crime, you may end up with a high premium. The nicer place you live, the lower your insurance will be. Insurance companies will quote you lower if they know you are in a safe neighborhood.
8. Student Discounts – if you or your child is getting good grades, you can get a discount. Good grades show responsibility and the more responsible your young driver is, the lower risk they are to the car insurance company. That equals lower cost for you.
9. Drive Less – discounts are offered based on the total mileage you drive. Certain companies will offer discounts if you do not use your car for your daily commute and actually walk or bike. The less you are on the road, the less likely you are to get in an accident.
10. Have a better credit score – the better your credit score, the better you rate you will get. As mentioned above, car insurance companies like low risk. Your credit score is a direct correlation of the risk you are. If you pay your bills on time and keep everything on track, you will receive a lower rate.
Those ten tips can help you save a ton of money. If you are looking to save money on car insurance the best option is to shop around and compare car insurance companies.
No comments:
Post a Comment