Is your car insurance premium giving you sleepless nights?
Perhaps you just bought your first car and the insurance costs are higher than you expected. Or maybe you’re a seasoned car driver whose premiums have been climbing gradually.
Regardless of your situation, you want one thing: to save on your car insurance.
Is it doable? If it is, how hard is it?
Well, it’s possible to save on auto insurance. You just need the know-how. And in this article, we’re giving it to you.
Read on to learn how to save money on car insurance.
1. Buy a Car with Auto Insurance in Mind
Unless you’re a seasoned car buyer, it’s easy to walk into dealerships and drive out with a car without considering how to will affect your car insurance costs.
There are many factors that insurance adjusters use to determine your auto insurance premiums. A key one is the make and model of the car you’re trying to insure.
Pricey cars attract pricey premiums. Car models that have poor safety ratings will get higher premiums. Newer cars are more expensive to insure compared to older cars.
So, when you’re buying a car, do some research and establish how much it will cost to insure. If you’re on a tight budget, it’s best to go for a cheaper car with a high safety rating. Avoid rare make and models.
2. Shop Around for Cheap Auto Insurance
There are thousands of companies in the auto insurance market. They don’t all charge the same premiums for the same car. The difference from one company to the next can vary by up to $100 or even more.
When you’re looking to save on insurance costs, don’t settle on the first company that you find. Shop around and compare quotes. There are online tools that will get you quotes from several insurers.
You’re free to pick a quote that suits your budget, but be sure that you’re getting insured by a reliable carrier. A cheap quote that sounds too good to be true might save you money right now, but should you ever need to file a claim, you’ll learn “cheap is expensive” the hard way.
3. Trying Bundling
There are thousands of insurance companies in the auto insurance market. They don’t all charge the same premiums for the same car. The difference from one company to the next can vary by up to $100 or even more.
There are insurance companies that bundle up their insurance products to attract a specific clientele. For example, this company offers home and auto insurance bundled. If you pay for the two separately, you’ll realize that you’re paying more than you’d pay for the bundle.
4. Be on Your Best Behavior on the Road
Insurance companies don’t like high-risk drivers. No, they won’t deny to insure you. But they’ll charge you an arm and a leg for car insurance.
And how do they know you’re a high-risk driver? By looking at your driving history. If you’re always racking up points on your DL, expect your premiums to go up. But with a clean record, you’ll have more negotiating power when applying for or renewing car insurance.
Master How to Save Money on Car Insurance
Car ownership is part and parcel of American life. It shouldn’t be a pain in your pockets, though. This guide on how to save money on car insurance will help you know how to navigate the market and find cheaper insurance. Just put these tips to use.
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