Before you head out on your next road trip, it’s worthwhile looking at ways in which you can cut the costs of your car insurance.
Thankfully, there are several ways you can go about saving money on your auto insurance. Here are seven methods you’ll want to consider.
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1. Ditch Any Coverage You Don’t Need
First off, take a detailed look through your existing car insurance policy. It could include coverage that you don’t actually need, such as car rental or roadside assistance coverage.
Identify anything you don’t need and ask your insurer about removing it from your policy. You could potentially make significant savings.
2. Shop Around for Better Car Insurance Rates
One of the simplest and best ways to cut the costs of your car insurance is to switch to another insurer that offers a better price.
These days, it’s quick and easy to use an online comparison site to compare the rates of different insurance companies.
However, don’t simply go with the cheapest insurer you find. It’s just as important that the insurance company is reputable and has lots of glowing customer reviews.
So, approach getting car insurance in the same way as you would for choosing a credit card, for instance. Shop around!
3. Need an SR-22? You Can Still Shop Around for Cheaper Insurance
If you’re located in the United States and you have committed a serious offence, you’ll need to obtain SR-22 insurance, which is basically a type of auto insurance for high-risk drivers.
The good news is lots of insurance companies offer SR-22 insurance, so you can still use some online comparison platforms to compare different insurers that provide SR-22 insurance.
To learn more, check out this helpful post about SR-22 car insurance facts, which includes some facts you’ll be surprised about.
4. Increase Your Deductible
As you probably know, your deductible is the amount of money you have to pay after an accident, theft, or damage to your vehicle before the insurance company picks up the tab.
By choosing a lower deductible, you’ll have a higher annual premium. On the other hand, when you choose a higher deductible, you’ll pay a lower annual premium.
It could work in your favour to change your deductible, so ask your insurer how your premium will be affected if you raise your deductible.
5. Install Anti-theft Devices
You could cut the costs of your car insurance by installing anti-theft devices on your car, such as a car alarm or LoJack.
But make sure you find out from your insurer which devices can enable you to lower the cost of your insurance before you proceed.
6. Improve Your Credit Rating
While your driving record makes a difference to the cost of your car insurance, don’t forget that your credit rating can also affect the price of your auto insurance.
Therefore, if you can improve your credit score before your next road trip, by doing things like paying bills on time and not taking on any debt, you could make significant savings on your car insurance.
7. Take a Defensive Driving Course
If you have plenty of time before your next road trip, you could save money by securing an auto insurance discount through successfully completing an accredited defensive driving course.
Just make sure you talk to your insurer about this option before you sign up for a course. To qualify for a discount on your insurance, you may need to complete a specific course.
Also, you need to find out how much money you can actually save by completing a defensive driving course to make sure it’s worth your while.
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