Written by It doesn’t seem to matter what amount you’re paying for car insurance, it always seems like it’s too much. So, for those of you with an interest in lowering your car insurance premium I’ve outlined 4 quick ways to drop that rate.
- Get Quotes From Other Insurance Companies
Whether you’ve just started a new policy cycle, are in the middle, or at the end – getting a few auto insurance quotes from different insurance companies is one of the EASIEST ways to save money. If you’ve held a car insurance policy for at least 6 months, it’s time to shop around. Remember you don’t have to switch your auto insurance company, but if you find rates that are lower with identical coverage – why wouldn’t you?
- Raise Your Insurance Deductible
If your car insurance premium carries a deductible of $250 (a deductible is the amount of money you pay out of pocket for damage per incident), you may want to consider upping your premium to $500, or possibly $1,000. Certain rules and restrictions apply and they have been covered in some detail here -> Raising Your Insurance Deductible. Before you decide to raise your deductible you’ll have to talk to your insurance company.
- Ask About Insurance Discounts
Every single person should ask about discounts that could apply. Depending on your insurance company, there are many insurance discounts for safe drivers, good students, auto clubs and more. Just don’t forget to ask.
- Lower or Dropping Extra Coverage’s
Lowering or dropping extra coverage’s is not to be taken lightly, but can lower car insurance rates if done correctly. If you have rental reimbursement, but own more than one vehicle -¬¨‚Ć you likely have a backup and don’t need the extra coverage. If you’re young and have a $1,500 vehicle, no home and no family – you may be paying more per year for comprehensive and collision than it’s actually worth. Of course only you and your insurance company can decide what changes you can make to your insurance policy, but take a hard look at coverage’s and add-on’s that you have that you may not need.
My company wanted $30/yr for roadside and it was a waste of money because I already had AAA.
I just switch when my policy is coming up for renewal…easy enough. THere’s usually a lot better car insurance rates from other companies that want your business that don’t already have it.
autoinsurance companies tend to charge more when you renew a policy with them. It’s easier to just switch insrance policies
The only way I’ve found to lower my car insurance has been to either sell my car, or quit paying it…HAHA
lowering coverage saves a lot, but you better not have an expensive car or you may get stuck paying for it.
the best way to get a lower rate is to switch companies. No point in messing with coverages and deductibles if another company out there can give you a cheaper policy
raising deductibles is smart, so is getting the coverage you need instead of what you think you need. All the insurance extras can definitely add up.