Top 5 Ways to Save Money on Your Car Insurance

January 15th, 2015 by Shawn Reynolds in Auto Insurance, Insurance Basics No Comments »

Top 5 ways to save money on your car insuranceMost states make it mandatory for car owners to have some amount of car insurance and this is a good thing. Car insurance can become somewhat of a heavy burden especially for folks that are trying to cut down on their expenses. For those that know the importance of car insurance but wish to save a few dollars on it, below are some tips that can help you save some bucks.

How to Save Money on Car Insurance

Saving money on car insurance isn’t something that happens without you putting some work into it. If you really do want to save a significant amount of money, you may want to check the tips below and apply them to your own car insurance search.

  • Compare quotes – Savvy car owners looking to save money on their car insurance will not go for the first one they find. What they will do instead is to look at different companies and get quotes, and then they compare and contrast the numbers. Most car insurance companies offer quotation tools so you should have no problem using these tools to get the best deals.
  • Sniff out the discounts – There are numerous car insurance discounts offered by companies but you need to look for the ones that apply to you. For instance, if you are a college student, you may want to look for a company that offers discounts for outstanding marks in school. Military men and women are often offered discounts in car insurance while folks that take up defensive driving classes are also offered discounts. The lesson here is that you have to look for the discount if you want to save money since insurance agents won’t exactly volunteer the information.
  • Choose a bundled coverage – This is perhaps the easiest way to save money on car insurance costs. What you do is you bundle your car insurance with your renter’s or homeowner insurance. The good news is that nearly all major car insurance companies offer great discounts to people that purchase several policies at once.
  • Drive less – Do you know about the low-mileage discount? Chances are you do not since this is a car insurance discount that is almost always overlooked. What happens here is that they will calculate your rate based on the chances of you figuring in an accident. The less miles you have, the less chances of you getting into an accident, so your rates will drop.
  • Maintain or achieve good credit – Make sure that your credit rating is good before taking out a policy. Car insurance companies look at different factors when calculating rates and you can bet they will take a close look at your credit rating and use it to determine how much to charge you for car insurance.

 

There you have them, some simple but effective tips to save money on car insurance. Keep them in mind and watch your savings pile up.

You can also check out our quick quote tool to help you out.

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Shawn is the CFO and Co-Founder of Signature Insurance Group. In addition to his being raised in a family whose involvement in the insurance industry stretches back six generations, he has personally been in the business since 1999.

Shawn enjoys spending time with his wife, Holly, and three sons, Braxton, Hudson, and Maddox.

Shawn can be reached at Shawn@SIGWinder.com.

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