Car insurance is a necessary expense. But that doesn’t mean it should be expensive. Here are some ways to get it for less without compromising coverage.
Many insurance companies advertise that they’re the cheapest, but none of them can claim this for every individual driver in the country. So the smart thing to do is compare quotes from multiple insurers.
Check regional insurers like Auto-Owners Insurance and Erie because they may have higher customer satisfaction scores and lower rates than others.
Inquire About Discounts
Insurance companies offer better rates to customers that bundle car insurance with homeowners insurance or insure multiple cars or multiple drivers. You can also get discounts if you have a clean driving record, pay the annual premium upfront, submit your documents online, own a car with certain anti-theft or safety devices, or hold certain memberships. Compare discounts too.
Pay on Time
Insurers believe people with good credit don’t file too many insurance claims and offer them lower rates. So, remember to make all your payments on time and keep checking your credit report for mistakes.
Check the Cost of Insuring a Car
Check how much a car costs to insure before buying it. You may be surprised at what you find. The cheapest bestselling vehicles to insure are the Subaru Outback, Jeep Wrangler, and Honda CR-V.
If your car is old, and worth less than ten times the premium, you can drop comprehensive and collision coverage. Ensure you keep the legally required covers.
If you do go for comprehensive and collision insurance, check how much you can afford to pay as a deductible. If you choose a higher deductible, you can save a serious amount on your premium payments.
Opt for Mileage-Based Insurance
Here’s something interesting. If you’re sure that you’re a safe driver and don’t drive too much, you could opt for an insurance cover that allows your insurer to install a device in your car that tracks how you drive, when you drive, and how much you drive in exchange for lower premiums. If you drive less than 10,000 miles annually, you could also check for a mileage-based insurance program that offers lower premiums.