How to Save Money on Auto Insurance

Ralph Francis
Aug 23, 2017 · 2 min read
auto insurance company

You can’t drive without insurance in the state of Florida — or at least you shouldn’t if you want to avoid penalties. Current law dictates drivers must have a minimum of $10,000 in personal injury protection and $10,000 of property damage liability. Depending on your driving record, the state may also require you to carry other types of insurance. With such high stakes, it is important to find an auto insurance company that can help you save money.

Maintain Your Credit

Like most other companies, auto insurers want to know how much of a risk they take to provide you with a policy. For this reason, most will check your credit score. The lower your credit score is, the more likely you are to be viewed as someone who is irresponsible. For this reason, it is important to regularly check your credit score, paying off debts if necessary and communicating with the credit bureau if you find mistakes.

Drive a Safe Car

Your car is a big factor when searching for the best auto insurance. Avoid purchasing cars that are considered high-risk. Typically, these include sports cars or other luxury models that are associated with high-stakes driving practices. Cars considered family vehicles are typically the most affordable to insure. You should also compare collision data when searching for a new car. The Insurance Institute for Highway Safety and Consumer Reports often provide this information.

Look for Companies That Offer Discounts

Do your best to find an auto insurance company that offers discounts. Some discounts you may be eligible for include never being in an accident, getting good grades if you’re under a certain age, getting married or even purchasing anti-theft devices for your car.

Check Your Rates Annually

Insurance rates tend to fluctuate, so it is important for you to research current best prices at least once per year. Most people who assume they are still receiving the best price often end up paying more than they need to. Plenty of insurance comparison tools are available online.

Consider Your Mileage

Many companies charge more for people who drive a lot based on the fact that the more often you’re on the road, the more likely you are to be in an accident. If you suddenly find yourself driving less because you’ve changed jobs or had another life change, report the reduced mileage to your insurance company.

While there are plenty of ways to save money on your insurance, the best way is to research your auto insurance company. Choose one that is in good standing with the Better Business Bureau, has excellent reviews from customers and provides high-quality customer service.

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