Most drivers know all too well that car insurance is a costly expense. Fortunately, there are several ways that car owners can save money on their car insurance premiums. If you'd like to save money on your car insurance, consider implementing these five cost-saving measures.
1. Do your homework.
If you haven't purchased your car, then do a little homework before you do. By looking into the average insurance costs for different types of vehicles, you'll know which cars cost the most to insure. Knowing this information when choosing a car can save you substantial amounts of money on future car insurance payments.
2. Shop around.
Different insurance companies offer different policies at different prices. That's why it can be worth shopping around for a better deal, even if you already have car insurance. After shopping around, sign with whatever company offers the best value for your money.
3. Bundle your insurance.
Another way to save money on your car insurance is to bundle it with another insurance policy. A popular bundle offered by most insurance providers combines both your car insurance and your home, renters, or condo insurance. If your car insurance is currently with a different provider than your home insurance, inquire with both companies about the potential savings of bundling the two. When each company has provided you with a quote, choose whichever option is best for you.
4. Choose group insurance.
Insurance providers often give their best rates to groups. If your employer, business association, or alumni group deals with a group insurance provider, ask them about the benefits and cost of their car insurance policies to see which provider offers the best protection for the lowest fee.
5. Ask for discounts.
Simply asking your insurance provider for a discount can sometimes be enough to lower your car insurance premiums. Many providers offer discounts for low-mileage drivers and drivers with accident-free records. Those who have taken a defensive driving course may also be eligible for additional discounts. By asking your insurance provider about possible discounts, they can work with you to find any discounts you may be eligible for.
Because insuring a car is never cheap, it's always worth looking into ways to save money on your car insurance premiums. So, if you want to lower your car insurance expenses, consider doing your homework, shopping around, bundling your insurance, choosing group insurance, and asking for discounts.
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Thursday, October 3, 2019
Five ways to save on car insurance
Posted by Staff at 10:23 PM
Labels: Insurance, Life skills, Money tips, Personal finance, Saving money, Shopping
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