By Article Author
That dream trip next summer isn’t going to pay for itself. Slashing auto insurance costs can translate into hundreds of dollars saved for your trip. Here are four ways to save big on auto insurance!
- Rethink your loyalty and bundling discounts.
While some companies offer discounts the longer you stay a customer, it doesn’t mean the discount is worth your loyalty. Shop around for other companies offering different rates for the same coverage.
- Do you have too much insurance?
You can have too much insurance on a ten-year-old car. Compare the vehicle’s value and the costs of paying premiums, plus the deductible. Consider eliminating any unneeded coverage.
- Increasing your deductible will save you money.
Paying a higher deductible means more out-of-pocket if you file a claim, but it can reduce your premium costs.
- Insurance discounts.
As you shop for auto insurance, ask about any available discounts. Here are several popular ones:
Good driver: No claims, moving violations, or accidents within the past five years.
Bundling: Holding several types of policies with the same insurance carrier, e.g., auto, homeowners.
Group: e.g., college alumni, military, etc.
Low mileage: Drivers with low annual mileage or those that carpool to work or school.
Good student: Lower rates may be available if your child is a full-time student and maintains a minimum GPA.
Insurance discounts vary and could save your bill up to 30 percent. Give your financial goals a needed boost by cutting your auto insurance costs!
