Buying a car, new or used, is not cheap, but making your car insurance cheaper is certainly possible. Here are a few ways to get cheaper car insurance without compromising on coverage.
Check the coverage
What car you drive, how big and old it is, how many miles you ride it for every day, what are its safety features, does it run on fuel or is it a hybrid, and which state you reside in are the factors that decide the cost of your car insurance.
Ask family and friends living with you to get together and compare insurance coverage and costs from various companies, and ensure that all your car insurances are renewed together from the same company. Getting multiple vehicles insured from the same address is one of the ways to get cheaper car insurance by saving on the premium through discounts from the insurer. If you also have homeowner’s insurance from the same insurer, discounts might apply and your premium will be lesser.
Be good at driving, studying, or with credit
All these attract discounts and are ways to get cheaper car insurance.
- If you have a clean driving record with no accidents or violations or have no previous insurance claims, discounts might automatically be offered.
- If you are a student with a four-year degree or have records of grades of a B or higher, you would qualify for cheaper rates of car insurance.
- Similarly, if you have a high credit score and an extensive credit history, it can help you get cheaper car insurance.
Insurers offer discounts for a wide range of reasons:
- If you are employed with or have a close relative working with the US Government, the military, or in certain affiliated organizations like the American Association of Retired Persons or the American Automobile Association.
- If you are a senior citizen.
- Being loyal to insurance companies and subscribing to their loyalty rewards programs.
- Having safety features like a burglar alarm or security device in your car.
- Taking additional accredited driving courses like defensive driving, accident prevention, and such.
Other reasons that make car insurance cheaper
Major life changes like getting married or buying your own house can reduce your car insurance premium. Similarly, paying your car insurance in a single installment well ahead of its expiry date, and opting to go paperless with your insurance and related documentation are also ways to get cheaper car insurance.
When applying for car insurance, ensure that you research and understand what good insurance cover is and compare quotes from multiple companies. This will certainly help you get cheaper car insurance and save a great deal of money.