Getting insurance can be a frustrating task, especially if you don’t have the perfect driving record. It can also feel like you’re paying through the nose for coverage that doesn’t deliver on service. But, there are ways to save money on your policy and get the top-notch service you need. Here are five ways to save a considerable amount of money on your annual premiums:
1. Use a personal shopper. There’s no need to do all the research yourself when there are insurers that can get free quotes for you. Contact a licensed agent to help identify savings and compare rates that will sort through hundreds of coverage combinations to find the best value for your needs.
2. Boost your deductibles. A deductible is what you must pay for repairs before your insurance policy covers the rest. The lower the deductible, the more risk your insurance company takes, resulting in a higher premium. By raising your deductible, you’ll lower the premium. Yes, you increase your risk, but if you have a history of safe driving, it’s a great way to save money in the long run.
3. Take advantage of discounts. One of the easiest ways to save money on your car insurance is to simply ask. Most insurance companies offer discounts to drivers based on driving history, veteran and student status, memberships to professional groups, age and how vehicles are used. It’s possible to save for being a safe driver, good student, owning a hybrid or being a loyal customer.
Additionally, when you combine your auto and home insurance coverage with one carrier, you can save 10% to 20% on each policy. Bundling can come in handy if you have multiple drivers in one household, including a teenager.
4. Keep your policy updated. You may be missing out on some savings if you haven’t looked at your auto policy since you purchased your car. The car insurance you purchased when your car was brand new is different than what you need later. For example, maintaining collision coverage on older vehicles is not the same as when you bought the car. Check the value of your car to see if you have more collision insurance than you need, and if it’s worth dropping entirely.
Other factors included major life events like getting married, moving to a different city or having children. Review your policy each year to see how any life changes may affect the premiums you pay.
5. Improve your driving record. It’s no secret that traffic tickets and accidents drive up insurance premiums. Maintaining a good driving record is one of the best ways to keep your premiums as low as possible. The blemishes on your driving record will clear up with time, but you can also reduce those violations by taking a driver safety course. Maryland and D.C. drivers that take defensive driving courses can reduce the number of violations and save hundreds of dollars over time. It will also enhance your driving skills.
There are several ways for drivers of all ages and backgrounds to get car insurance discounts. Contact one of our agents to review your current coverage and find the best possible savings.