Saving Money on Car Insurance: Expert Tips for Affordable Coverage
Trying to reduce your car insurance bill? I’m right there with you! Read on for some practical hacks that can cut down your car-insurance costs without cutting back on your coverage.Why is Car Insurance So Expensive Anyway?
Car insurance is expensive, but surely it ought to be possible to see why. A decade ago, when living in Texas, my cousin bought car insurance and – even when I explained to the policy broker that I had had no moving violations in 18 years, was a man, drove an SUV, and had good credit – the price still shocked me. For two years, I operated my vehicle without insurance (scary, I know), and when I informed the broker that I now had proof of coverage, he asked me why it had taken me so long to get it. ‘How am I supposed to know what goes into it?’ I asked. This quote has stuck with me for a long time.
So, How Can You Trim the Fat Off Your Premiums?
First, shop around! You wouldn’t buy the first pair of shoes you saw.
Boost Your Deductible for Instant Savings!
Having a higher deductible – the amount you pay before your insurance actually rolls into play – is like a better odds game of roulette.
Bundle Up for Savings!
Do you bundle? You know what bundling is, right? It’s like going to McDonald’s or Burger King – you get something extra for paying less. Bundled your car insurance with your homeowner’s or renter’s insurance for big discounts!
Take Advantage of Discounts!
For various reasons insurers will give you discounts – good school, good driving, are a homeowner? Big savings! Found money in an old jeans pocket!
Drive Less, Save More!
As the fewer miles that you drive, the lesser CHANCES TO HAVE AN ACCIDENT. It means simple maths! You had better carpool or by subway/bus etc. not just saving planet but also yourself purse.
Keep Your Driving Record Clean!
Bad driving record? Expect to pay through the roof! So just follow the rules of the road like you’re depending on your life! Your bank account tells us you are.
Opt for a Car with Safety Features!
Airbags, anti-theft devices, and camera backups, for instance, make insurance companies’ bank accounts swell because the more safety features your car has, the safer you are, and the more money you put into your coffers. That’s why safety is sexy!
Pay Your Premiums Annually!
If you pay premiums annually (rather than monthly), then you don’t pay so much in admin fees. Like buying toilet paper in Costco: cheap in the end!
Consider Usage-Based Insurance!
Usage-based insurance will hook you on the premiums you pay and adjust them up and down based on how you actually drive. It’s like having a coach in the car with you, watching how you do, debriefing you, and giving you treats for good behavior.
Stay Loyal and You Might Get Rewarded!
Some insurance companies reward clients for sticking with them by discounting their fees. Just as if you were a regular coffee-drinker at your local coffee shop, you might well get the odd one on the house.
Regularly Review and Update Your Policy!
Something changes, change the insurance. Just like when you prune a Bonsai tree - why prune a Bonsai tree?... it grows easy and strong, healthy.
Final Thoughts
Okay, roll up your sleeves, get smart, and save some money on your car insurance! Do dollar-earning arithmetic, be your own advocate, and in due time all that money will go from the pockets of big insurance companies to yours.
