Every dollar today is stretched a little bit further. The relief that is felt at the pump with even the slightest reduction in the price of a gallon of gas has been offset by the rise in the price of groceries and paper goods. Every time one dollar is saved, two more dollars are needed somewhere else.
That is why it is as important as ever to keep the cost of your car insurance premium down to a manageable level. There are several ways that you can accomplish this and here is a list of ten different suggestions on how to save money on your car insurance premium.
- You can raise your deductible to a higher amount. If your current premium is based on a $250 deductible, then raise it to $500 or even $1,000. You will need to make sure that whatever dollar amount you decide upon as a deductible is a realistic number that you can come up with in case of an accident.
- You can add any safety devices that your vehicle may be lacking. If you have a car without anti-lock brakes, talk to your dealership about adding them. Ask your insurance company what the savings would be if you installed these brakes and compare their rates with other companies when you do your auto insurance comparisons.
- You can save money with multiple cars on your policy. Your insurance company can combine your cars and lower your car insurance premium. If you have an older car, use that as your primary car because additional miles on it will not make that much difference on your car insurance premium.
- You can save money by adding your car insurance to your homeowner’s insurance company. Ask your agent to give you comparison quote for having both policies together.
- You can save money if you belong to a club or are a professional, like a teacher. Insurance companies give discounts to some groups.
- You will receive a discount when you turn 25. Even though middle-aged drivers enjoy the best rates available on their insurance, drivers who just turned 25 will see a discount as well.
- You can lower your car insurance by reducing coverages. If you are driving an older car only worth a couple thousand dollars, you might do well to drop your comprehensive and collision insurance. Those coverages will cost more than you can recoup in an accident.
- Students with good grades in both high school and college may receive discounted rates on their car insurance. You may need to provide your grade slip to your agent or insurance company to qualify.
- You can add an anti-theft device to your car and lower your car insurance. Since theft and garaging location play a big part in the determination of comprehensive rates, if you install an alarm or a system that will track your vehicle should it become stolen, you can lower your premiums.
- You can take a defensive driving course. If you have been out of school for a long time, a defensive driving course may be something you could benefit from. Not only will your skills be sharpened, but you can lower your car insurance rates as well.
There are many other ways to save money on car insurance, but these are the easiest and quickest things to help you to lower your car insurance. Be sure and tell your agent if any of these things apply to you.