6 Little Known Tricks to Keep Your Auto Insurance Rates Low

Wednesday, October 8, 2014, AM | 2 Comments

In most places, drivers are required by law to carry auto insurance of some sort. While there may not be a way to avoid paying for auto insurance, there are ways you can save money on your insurance. Here are six ways to keep your auto insurance rates as low as possible. 

6 Little Known Tricks to Keep Your Auto Insurance Rates Low

  1. Shop around

    While this seem like a no brainer, many people go with a certain insurance company because it’s who a friend or relative uses. Shop around and get quotes. What works for one driver may not work for another. You may find the best deal is with an insurance company that deals with many different companies.

  2. Increase your deductible

    The higher your deductible, the less you’re going to pay in premiums. A good rule of thumb is to not have the deductible higher than you could come up with in a month or two.

  3. Combine insurances

    If you have several different insurance policies and they’re with different companies, you’re paying more than you need to. Insurance companies generally give multiple-policy discounts if you use them for multiple policies. In fact, according to Underwriters Insurance Brokers (BC) LTD, you can save ten percent or more on your total bill by combining policies.

  4. Have good credit

    Many people don’t realize that their credit scores really can affect the premiums they pay on auto insurance. Being financially responsible can get you lower insurance rates. If you have good credit, go with a company that gives discounts for good credit.

  5. Watch your mileage

    Carpooling and avoiding excessive miles can get you lower insurance rates. Insurance companies believe that the more you’re on the road, the higher your risk of being in an accident. Some say you can actually save up to twenty-five percent by cutting your miles down.

  6. Only get what you need

    Take a good look at your auto insurance coverage and see what you really need and think you’ll use. Some companies offer an auto insurance calculator where you can enter coverage amounts and watch the premiums change. If you don’t need a certain feature, why pay for it? In addition, if you or your child’s car is more than ten years old, you may want to consider dropping collision and comprehensive.

With so many other things you can do with your money, why spend more than you need to on insurance premiums? Start following these simple tips and you’ll notice a huge difference in your savings.

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