Tricks for Saving Money On Car Insurance
Car insurance is expensive, no matter where you live. The difference between paying in the hundreds to paying in the thousands is staggering, and these tips will help you pay less every month.
Get Your Quote Online
When shopping quotes around you can save yourself a huge hassle by shopping prices online first. Insurance companies get less traffic on their websites than they do through calls or arriving in person. Save money with a car insurance quote online by seeing what promotions they offer that are exclusively online deals. See if they will match and beat competitor prices; all of these will be great in your arsenal for saving money on your quotes. Insurance policies and premiums can vary drastically, checking online quotes will help you make sure you’re getting the best rate. Many companies also offer a discounted rate if you purchase online, so check out all your options and save.
Know Your Car’s “Premium” Features
Did you know that at least four of the nation’s largest insurers will give you a discount on your car insurance if your vehicle has daytime-running lights? “Premium” features such as this are incredibly important to include when getting your car insurance quote. By adding incentives such as lower rates for safety features etc. insurance companies stay ahead of the competition and rope in new customers. You can stay ahead of that curve by mentioning every small detail that is a “premium” feature on your car.
What counts as a premium feature?
- Anti-theft and passive-restraint features like air bags
- Anti-lock brakes
- Hybrids or alternative-fuel vehicles
- If it is a newer car, usually brand-new up to three-years-old or less
Take Drivers Ed
Being educated with a drivers ed certificate is a great way to save money on your insurance, especially if you’re a new driver. Never forget to include it if you have it, and if you don’t, consider taking it if the savings are substantial. You save a lot more in the long run with drivers ed courses usually costing only a few hundred dollars at the most. Also get your kids enrolled in drivers ed if they offer it at their school. It can be a convenient way for them to learn as new drivers, taking the pressure off of you, and will also help when they start driving with their learner’s permit.
Choose Your Job Title Carefully
Remember what I mentioned about checking quotes online? Well it can help you with this step. Take your job title and play around with it to see if you’ll get a better rate. Being a “receptionist” versus and “office administrator” can mean saving a decent chunk of change. Your job title can make a difference for miles traveled, outside sales jobs for example, will require not only driving to and from work, but also intermittent travel throughout the day. As a sales person you’ll likely be paying more insurance than an office admin. And even if you’re not a sales person, it is oddly specific, but nonetheless important. 5 dollars here and there can add up over the years!
Check Your Car Model Before Buying It
Are you looking to purchase a car? Check to see how your car’s premiums stack up against other models. Obviously more expensive makes will require more extensive coverage as they’re more expensive to repair. Once again, you can shop online rates and try out different models, even different years can make a significant difference. If you get an idea on how expensive they are, you can plan a smarter purchase that will save you money in the long run.
Deliberate on Collision Coverage
Are you driving an older vehicle? Maybe it’s on its last legs and you’re just driving it until it kicks the bucket. Collision coverage is a big chunk of your insurance premium, and might not be worth it depending on what you’re driving. If the value of your car is worth the same or less than your deductible, you’re likely better off cancelling your collision coverage and putting the premium savings away to go towards purchasing another vehicle.
Pay Up Front (If you can)
Did you know you might be paying interest on your car insurance? Compare rates if you pay upfront versus month to month. If you can afford to pay it upfront you’ll save a lot in the interim. Heck, that interest rate might be higher than a loan which can pay the insurance upfront for you. Make sure to check all your options.