I recently had to look for ways to save on my auto insurance. It came time for my renewal, and suffice it to say that I was hit with a bit of sticker shock! My rate had nearly doubled, and I’ve had no moving violations EVER. Heck, I haven’t even had a parking ticket in 5 years.
If you’re also shopping around for auto insurance, there are ways to keep your wallet happy. It’s probably looking for a reasonably priced auto insurance plan. To keep your wallet warmly lined, here’s a quick how-to guide to shopping for auto insurance coverage.
Compare Insurance Rates
Ever hear the old adage, “work smart, not hard?” By using an insurance comparison tool with sites like CoverHound you are presented with a selection of competitive auto insurance quotes from the best providers in the nation. Whether you need car insurance for yourself or for your teen driver, it’s always best to shop for auto insurance with a keen eye. By comparing rates before signing up with an insurance provider, you are setting yourself up for a great new affordable plan.
Check the Market
If you’ve always had the same plan and insurance provider, your insurance costs might reflect an outdated model of coverage. Some providers tack on extra fees, while others don’t inform you about coverage changes at all. Don’t let complacency dictate the cost of your auto insurance rates.
Raise Your Credit Score
Having good credit shows your provider that you are a responsible individual. A good credit rating can reduce your monthly premium and may even result in additional insurance bonuses toward your policy premium.
Improve Your Driving Record
Been accident-free these past few years? A stellar driving record will help you score a great insurance rate. Since insurance companies view driving records as an indication of your behavior while you’re behind the wheel, it’s not a surprise that they reward accident-free motorists with lower rates. The lower the possibility of you filing for a claim, the lower your insurance premium should be.
Go for a Bigger Deductible
The Insurance Information Institute (III) says you can save money with lower premiums when you get a bigger deductible. The deductible is the amount you pay out of pocket prior to your insurer paying any expenses. However, make sure you have enough money put away in case you do need to make a claim. If you don’t, this move could prove financially disastrous for you.
Cut Down on Your Miles
Some insurance companies base their premiums on the miles you drive. So the less mileage on your vehicle, the lower premium.
Look for other types of discounts
If you don’t qualify for one discount, no worries, there are plenty of other discounts you could qualify for. Never be afraid to ask. For instance, if you recently installed anti-theft devices on your ride, that would qualify you for a discount. If you just hit the three-year mark for zero moving violations, you can qualify for another. Know what discounts you can take advantage of before signing on to a new plan.
Don’t be a Reckless Driver
Nothing scares insurance companies away more than a customer’s conviction for driving while under the influence. Statistically, drunk driving remains one of the major causes of car accidents on the road. So if you get one on your record, you’ll find yourself paying for that mistake in more ways than one.
Keep this list handy when you shop around for auto insurance to get yourself lower car insurance premiums!