17 Ways To Save Money On Auto Insurance

By Prev Info - October 16, 2022

 Buying auto insurance can seem like a daunting and confusing matter because of the complexity of variables involved and the often unclear explanation offered by agents. Here are some quick tips to help you save money and reduce your premium payments on auto insurance.


Auto Insurance

1. Compare prices between various insurers before picking one. Ask for quotes from different auto insurance agencies. Compare their rates and the nature of their cover to find the best deal.

2. Your auto insurance premium will depend heavily on your previous track record as a driver. If your record is good and you have not had many accidents and prior claims, you will qualify for a lesser premium.

3. Plan to buy the highest deductible that is within your budget on collision and comprehensive car insurance cover. This might seem expensive, but actually will save you a lot in the unpleasant event of an accident.

4. Choose your car wisely. An expensive sports car or luxury model will need a higher insurance cover. Getting yourself a more reasonable automobile will automatically cut down your premium.

5. Factor in the street value of your car today. If it is less than $1,000 then you might choose to opt for purely liability coverage and omit any insurance for collision.

6. Make sure that your insurance premium is paid ahead of the due date. With auto insurance, there isn't any grace period allowed for late payments. If you miss the deadline, your cover will instantly lapse, and you will have to buy new insurance.

7. Critically analyze your auto insurance policy from time to time and update your cover as required. If you're not sure about the type and nature of cover that's right for you, consult an insurance agent or a representative from your insurance company for advice.

8. On your auto insurance policy, include teenagers who share your car. If they are only occasional users, they will qualify for lesser premiums.

9. If your teenagers have their own cars, register them under your auto insurance policy. You will get a rebate as a multi-car policy holder. While buying your insurance, report actual usage patterns to the company. Rare users will qualify for discounted rates on their premium.

10. Assigning your teenagers to the least expensive vehicle will lower your premium rates. And youngsters who attend school more than 100 miles away qualify for a rebate as well.

11. Your academic or education record might qualify you for a discount on auto insurance. Make sure to check if you are eligible. Taking a course on driver education will also entitle you for a rebate.

12. Elderly drivers are often eligible for discounts, and particularly so if they attend defensive driving courses approved by the regional safety council.

13. Helping insurance companies deal with fraud can help lower your premium. If you are aware of any fraudulent claims or transactions, reporting them to your state insurance commissioner can help stem the rot.

14. Steering clear of shady operators can save you money. Most such dealers are only interested in signing you up and pocketing a commission. They will not help you deal with claims and will leave you to fend for yourself in case of problems.

15. Doing due diligence research on your auto insurance company and choosing only top of the line companies with good ratings and reviews will save you time, trouble and money. Whenever you are in doubt, check the track record of an agency or insurer.

16. If you are in an accident or run into trouble, try and keep your expenses low. When you claim lower insurance reimbursements, your premiums will also be lesser.

17. When insurance agencies foot the bill, repair shops often inflate their charges. Challenge any costs that seem excessive and reduce the claim you file with your company. This will help you save on future premiums.

These simple methods will help you save money on auto insurance.