10 Ways to Save on Automobile Insurance
Automobile insurance is a significant part of most Americans' budgets. In fact, according to the National Association of Insurance Commissioners, the average American pays roughly $800 per year for automobile insurance-nearly $70 per month.
Wouldn't it be helpful to reduce that premium by 20 or 30 percent? You can-and it's easier than you think. Take a look at the following 10 tips from BestInsuranceMatch.com™ and start saving money today.
1. Shop Around for a Lower Automobile Insurance Rate
When you shop for a major item, you shop around for the lowest price, right? It's the same with insurance. If you don't compare car insurance rates every so often, you'll never know if you're missing out on a more affordable policy.
2. Increase Your Automobile Insurance Deductible
The math is simple: the higher your deductible, the lower your automobile insurance premium. According to the Insurance Information Institute, if your deductible is $250, raising it to $1,000 can save between 25% and 40%! You will incur higher out-of-pocket costs should you need to file a claim, but the amount you'll save may be well worth it-especially if you're a safe driver.
3. Don't Overpay for Automobile Insurance Because of a Ticket or Accident
It's never good to have a ticket or accident on your driving record, but not all companies look at violations and accidents the same way. Many insurers specialize in insuring different types of driving, including those with tickets or accidents on their driving record. If you shop for car insurance quotes with BestInsuranceMatch.com™, you could be surprised at the savings you find.
4. Insure Your Automobile and Home With the Same Company
With a multi-line auto insurance policy you purchase both your car and homeowners insurance from the same carrier. According to the Insurance Information Institute, a multi-line policy can save you up to 15% on both premiums.
5. Don't Pay for Automobile Insurance Coverage You Don't Need
If you don't know the details of your automobile insurance policy, you could end up paying for coverage you don't need. For example, you may be a member of a car club that provides roadside assistance yet also pay for towing on your automobile insurance policy. Eliminate unnecessary coverage and save money.
6. Good Driver Discount
Most automobile insurance companies provide discounts for drivers with clean driving records. In fact, some states require companies to provide these discounts. If you haven't had any accidents or tickets in the last three to five years, you're probably eligible.
7. Good Students, Seniors Can Save on Automobile Insurance
Automobile insurance companies feel that conscientious students make for safer drivers. Students currently enrolled in school may receive a discount on automobile insurance if they earn good grades. Similarly, automobile insurance companies are also known to value the wisdom of an experienced driver, offering discounts to drivers over 50 as a result.
8. Drive Less, Pay Less for Automobile Insurance
Many automobile insurance companies will offer discounts to drivers who keep their annual mileage low. If your commute has recently changed or take another means of transportation to work, you could save money by getting an updated automobile insurance quote with BestInsuranceMatch.com™.
9. Look for a Safe Vehicle Discount
A number of insurers offer discounts for vehicles equipped with safety features, including air bags, security alarms, anti-lock brakes and more. While getting updated car insurance quotes with BestInsuranceMatch.com™, be sure to indicate such safety features.
10. Skip Monthly Automobile Insurance Installments
If you pay your automobile insurance monthly, you're probably wasting money. Administrative fees are sometimes applied when you split your premium into monthly installments. These fees may seem small, but they can add up over the long run-even a monthly fee of $5 can cost $60 over the course of a year.
To put these money-saving tips to good use and start saving money today, use BestInsuranceMatch.com™ to get free automobile insurance quotes.
