Shopping for auto insurance can be stressful, confusing, and expensive. It doesn’t have to be any three of those things though. In fact, with technology, buying car insurance is fairly simply and, with the right tools, budget-friendly.
When it comes to saving money on insuring your vehicle, it is important to remember that your insurance is there to protect you and the passengers in your car as well as the property itself. So, skimping on coverage to save money isn’t always the best course of action. However, there are some ways to save on auto insurance that don’t involve losing any coverage. Here’s how…
Compare Quotes Online
You can save money if you compare quotes online for auto insurance. Technology has made it possible to search for car insurance rates online and compare prices side-by-side through various price comparison tools.
If you are a new car insurance buyer then you will want to use these tools to identify the best price for car insurance. Seasoned car buyers, on the other hand, may want to consider using the price comparison tool as well. At least once a year, search the rates offered by other companies. If there are insurance companies offering you comparable coverage at lower prices, you can use that information to barter with your current provider. Comparing prices is a great way to save.
Change Your Car Insurance Deductible
One of the less popular ways to save on your car insurance is raising your deductible. Raising your overall deductible will lower your car insurance premium and how much you pay the insurance company. However, it will also raise how much you will have to pay out-of-pocket in the event of an accident.
Before raising your deductible, seriously consider your driving record. If you have accidents often or have had a poor driving record, you may want to consider leaving your deductible low. Also, consider establishing a secure emergency fund before raising your car insurance deductible. This way, if you ever get into an accident, you can cover the expenses fairly easily.
Pay For Car Insurance Annually
This is one of the easiest ways to save money on car insurance. Although many people pay for their insurance coverage month-to-month, many insurance companies offer annual billing. Paying for your insurance annually can save you a fair amount of money, possibly hundreds of dollars a year.
When you call your insurance company to ask about annual billing, also consider asking them about discounts available. Some insurers offer safe drivers discounts, student discounts, and senior citizen discounts. It is also common for car insurance companies to offer discounts to individuals who attend driving courses.
With a little time and research, you can save hundreds of dollars a year on car insurance. Considering all you’ll have to do is spend a little time on the web (and possibly the phone), it is well worth it. What are you waiting for? Use the tips about to start saving as soon as possible.
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