How to Maximize Your Car Insurance Savings

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By seradis
User-Submitted Article

Article Rating: (4 Ratings)

Auto Insurance

Unfortunately car insurance is a necessary evil. When we buy car insurance we do not want to pay a high monthly bill. Here are some ways to maximize your car insurance savings.

Difficulty: Moderately Easy

Instructions

Step 1

Get more than one quote. Try to get at least 3 car insurance quotes. You might be surprised at how much cheaper different car insurance companies are. You can also mention a lower quote to another insurance company and see if they can go lower.
Step 2

Do not let your car insurance lapse. If you let your insurance lapse, you may not qualify for discounts. It is cheaper to get car insurance while you still have car insurance with another company.
Step 3

Try not to pay in installments. Most car insurance companies charge administration fees when you make installment payments.
Step 4

Ask if the auto insurance company offers low mileage or group discounts. They may also offer discounts if you combine coverage of renters or home owners insurance with them.
Step 5

Try to get a high deductible. You may save a lot on paying a little more on your deductible.
Step 6

Determine your vehicle's value. It may not be worth your while to have collision insurance if your vehicle is not worth that much. In this case just consider liability insurance. Car insurance companies may not use sources such as Kelley Blue Book. They may get values from car dealers instead.
Step 7

Determine the car insurance cost of a vehicle before you buy it. Some vehicles have more expensive car insurance premiums than others. A sports car would most likely have a higher car insurance premium.
Step 8

Have your teenage drivers drive one car. Cover them on your least expensive car and only let them drive that car.
Step 9

Evaluate your auto insurance once per year. It would not hurt to get quotes as some insurance companies seem to raise prices as time goes by. If they do, you can inform your car insurance company with your quotes and see if they will match it for you. You can also go over your policy once a year with you insurance company to see if there is any coverage you may not need or can reduce.
Step 10

Try to maintain a good credit record. Some car insurance companies are using credit reports to quote car insurance prices.
Step 11

Keep a good driving record. Some insurance companies even send you a check if you have not had any accidents or violations in a certain amount of time.
Step 12

Determine your medical coverage. If you have health insurance through your job, you may not need as much medical coverage on your car insurance policy.