I have been doing some research on practial ways for everyone to help save money on their car insurance and I hope you find these steps useful for you? Because each auto insurnance company is different not all these ideas will work with every company.
Self-insure as much as you can afford and here are some helpful hints:
- Higher decuctibles – this is pretty common but can really add up to savings (if your vehicle is older the savings maybe minimal)
- Remove towing– this is also effective paticualy if you are driving a newer vehicle and keep up with the proper maintence. If you have used several times in the past on your current vehicle this may not apply to you?
- Remove car rental-if needed economy cars run about $20-$25 per day but can run over $40 as an added cost to your policy period
- Shop around and get comparable quotes from several providers. consider the type of vehicle you are considering because size or manufacture does not mean you will pay less. Insurnance companies evaluate different factors including the likelyhood of injury, how often this type of vehicle maybe stolen, and the overall cost factor of repairing certain types of vehicles.
- Consider vehicle aftermarket upgrades this can be very expensive but be aware insurance coverage does not match dollar to dollar cost you paid to add these items on your vehicle.
- consolidate your insurnance coverages-many insurnance companies will offer additional discounts for having all your coverages in one place like home, auto, and life.
- Low mileage discounts-let your agent now if you are only drving locally or if the vehicle being insured is a weekend cruiser.
- Semi annual or annual payment– if possible avoid the monthly installment plan since some carriers will charge up to an additional $10 per month onto your policy for offering the monthly payment option.
Like most policies we usually dont review or evaluate very ofeten sometimes never unless of an accident or a solicitation that prompts checking your coverages. Make a note to review and shop every 6-12 months.