Theres More Than One Way to Save on Car Insurance

DEC 20, 2013

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Saving on car insurance can be a good thing and comparison shopping for policies is one way to reduce your auto insurance costs. Its not, however, the only way.

Here are a few more you may not have thought of:

  • Drive better. Slow down, remember to signal, never drink and drive good advice in more ways than one. Drivers who practice safe driving habits usually enjoy many perks including fewer accidents, fewer claims filed and lower premiums than motorists with blemishes on their driving records.
  • Take a driving course. If you have a teen driver in your household, you may already be aware that some insurers offer discounts for teens who complete qualified driving courses. Did you know that some also offer that discount for adults? It pays to ask; everyone could use a refresher now and then, especially if it saves you money too.
  • Pick a safer vehicle. Its probably obvious that someone who drives a pricey, luxury sports car will pay more for insurance than someone driving a minivan. But safety really counts even in more sedate vehicle classes. Before buying a new vehicle, check with your insurer to see if the company offers discounts for safety features such as lane change assist or blind spot warning.
  • Bundle up. Some insurance companies that offer multiple types of insurance (such as homeowners, renters and vehicle) will give you a discount for having all your policies with them. You may find its cheaper to have your homeowners and auto policies with the same company than to split them between two different ones.
  • Take a higher deductible. Instead of paying the insurance company to cover you for minor problems like bumps and scratches, save money by opting for a higher deductible. Take the savings and put it right into the bank where it can make more money for you by accruing interest until you need it.

Learning how to save money where you can, like with your auto insurance, is an important part of balancing your personal budget. Keeping track of your finances will help you in the long run when meeting your goals, saving for an emergency and even taking on new debt.

 

 

This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.

Published by permission from ConsumerInfo.com, Inc.   © 2013 ConsumerInfo.com, Inc.   All rights reserved.