Photo by Sarmad Mughal
Originally Posted On: https://scubby.com/11-car-insurance-tips-that-can-save-you-hundreds-of-dollars/
Car insurance is an essential part of driving, and for good reason. You want to be supported should anything happen to your vehicle or anyone inside of it.
But the fact remains that car insurance can be an expensive thing to maintain. Those premium or monthly payments can quickly add up to a huge number that many of us would like to slash if at all possible.
Luckily, there are some car insurance tips to bear in mind that can help you out. We’ve collated these 11 tips that if adapted properly could save you hundreds of dollars when obtaining your car insurance.
Consider these tips and hopefully, you’ll never need to worry about that insurance bill again.
- Consider Your Car Itself
First things first, some cars cost more to insure than others. Larger vehicles in particular, such as SUVs, can be more expensive to insure than a small commuting vehicle.
Similarly, the more expensive your car was, the more expensive it’ll likely be to insure. We all want to drive a fancy vehicle, but if you’re dedicated to saving money, it might be worth first considering your car itself.
Consider downsizing your car if at all possible. Or, if you’re part of a large family, think about how a cheaper model can still serve your purposes. This tip may not be for everyone, but it can save you a lot on insurance in the long-run.
- All ‘Bout That Credit Rating
When it comes to insurance, your credit rating matters. For those not in the know, your credit rating is what’s used to consider you for credit-related decisions. The higher your credit rating is, the better situated you are to obtain credit on things such as mortgages.
There are many different articles that state what a good credit rating actually is. All you need to know for your insurance is that the higher you can get your rating, the better your insurance deal is likely to be.
- Avoid Accidents By Driving Safely Yourself
This one is admittedly easier said than done. But if you can avoid getting into any accidents, it’ll be better for your insurance and for you and your passengers.
You can’t control what other vehicles on the road are doing, but you can change your approach to driving. Make sure you’re always driving safely, and you’ll lower your chances of being in an accident.
If you have been in an accident, make sure to contact a personal injury lawyer. They can help ensure you’re taken care of after a car accident.
- Take a Driving Course
One way to improve your driving and help the above is by taking a driving course. One course, in particular, known as a defensive driving course, can be particularly helpful when it comes to your insurance.
Sometimes, your insurance provider will give you a discount if you’ve passed this course. That means that not only does it help with your driving, but it also creates real discounts for you that’ll benefit you in the future.
Though the course itself is helpful anyway, its best to check if this discount is offered with your provider before you sign up.
- Consider Insuring Multiple Cars or Drivers
Sometimes, insuring multiple cars or drivers can help lower the total cost of your insurance. This is because you’ll be offered a bulk rate by your insurance provider.
Usually, the other drivers need to be related to you by blood or marriage. This can be helpful for families though, particularly if you have children who can drive but still live with you.
If they want a car of their own, consider adding it to your insurance. Doing this can go a long way to snipping the total cost of your insurance each month.
- Take Additional Insurance With The Same Provider
Similar to the above, some insurance providers will give you a bulk discount if you insure multiple items through them. This could include your homeowner’s insurance or life insurance among others.
This can be a smart way of cutting costs not just on your car insurance, but on any other insurance you wish to obtain. If you rely on a single insurance provider for multiple insurances, you can keep covered whilst saving a huge amount each month.
As with many other tips on this list, make sure you check this with your insurance provider first. All insurance providers will have different policies and discounts, so it’s important you know how you can benefit before you commit.
- Car Insurance Tips: Research and Shop Around
People always think to shop around when making big purchases, like a new car itself. But they rarely think to shop around when it comes to insurance providers.
Often, people go with the very first insurance provider they find and leave it at that. But there are hundreds of providers all competing in different areas, all of whom have different costs and policies.
One of the best ways to save on your insurance is to do your research by shopping around. You can directly compare costs between providers, which should let you know which insurance provider represents the best value for money.
- Don’t Use Your Car For Everything
Using your car to make every trip you ever take can make your insurance more expensive in the long run. This is because insurance premium providers might ask you how many miles you drive your vehicle in any given week.
If you use other methods, like mass transit/public transport, you can list a lower mileage to this question. This can thereby limit the total cost of your insurance.
Not only that, but it means you’re spending less money on petrol each month as you’re actively using your vehicle less. This is both great for the environment and great for your wallet.
- Consider Raising Your Deductibles
Deductibles are the amount of money you’d need to spend on your vehicle before your insurance needs to payout. This value affects a number of things including accidents, theft, or other damage that harms your vehicle like adverse weather conditions.
You’re able to set this amount when agreeing on insurance with your provider. The lower you set your deductible, the higher your premium amount will be. This is because the insurance provider is more likely to pay out, as the figure is lower.
If you raise your deductible, you can usually lower your monthly amount. This is an important decision to think about, as there can still be cases where you’ve set your deductible too high and end up losing out on money.
Make sure to discuss this option with your provider to assess whether its right in your specific circumstances.
- Improve Your Car’s Security
When it comes to great tips to save money on car insurance, this is a brilliant one. Some insurance providers offer discounts if your vehicle is outfitted with certain anti-theft equipment.
This is because you’ve evidenced the fact that you’ve taken measures to mitigate theft. Some providers can offer discounts as high as 25% for the right anti-theft equipment.
Having this equipment also means your car is safer in general, so there’s very little downside besides the initial cost of the equipment itself. If money is a huge factor, consider measuring the cost-saving beside the cost of the equipment itself. Make sure to research the best vehicle anti-theft options available right now, too.
That way, you can assess whether purchasing this security equipment is fiscally worthwhile for you.
- Remove Any Policies You Don’t Need
Finally, many insurance policies are comprehensive. Oftentimes, they are too comprehensive.
Think about certain policies that you really don’t think you’ll need to be insured for. If you’re not planning on renting a car, then ask for car rental support to be removed.
If you’re particularly good at looking after your vehicle and know your way around a motor, ask for roadside assistance to be taken off your policy. Removing aspects to any policy like this will lower the overall cost of your insurance.
This means you’re not covered by anything you don’t think you’re ever going to use and can save you plenty in the long run. Always make sure to weigh up everything you consider removing from your policy though.
It might be worth leaving some policies in, on the off chance you do need them in an emergency. As with all the above tips to make car insurance cheaper, weigh up the cost with whether you actually need this coverage.
Where Can I Find Out More?
If you’re looking for even more information on cars after these car insurance tips, make sure to search through previous posts on our website. We have blogs about a number of different car topics.
Or, we have posts in a number of different categories, including entertainment, food, fashion, and more. No matter your interests, you’ll find something on our website that interests you!