This article has been reviewed by licensed insurance industry expert, Moshe Fishman.
The right auto insurance policy can help you avoid being saddled with unexpected costs in case of an auto accident, so it is important to choose the coverage that best aligns with your needs.
Auto insurance premium prices vary widely by company and risk factors that are tailored for each driver. Some auto insurance companies charge higher rates than others, but there are several ways to reduce your monthly premiums without compromising your level of coverage.
Combining auto insurance policies is a great way for families and friends who live together to get a discounted premium. Insurance companies often provide additional benefits when insuring multiple types of vehicles through one company.
In addition, most insurance companies offer discounts for bundling several types of insurance with them. Bundling auto and home insurance policies under the same carrier can save you 5%-25% on premium costs!
Reach out to your insurance agent and inquire about discounts you may qualify for. Some auto insurance companies offer discounts based on your driving history, academic success, and safer driving course completion.
A great way to reduce your car insurance premiums is by investing in safety features for your vehicle to reduce the likelihood of theft or damage.
Some insurance companies offer discounts for anti-theft system installation, like an electric immobilizer or anti-lock brakes. Others may even offer discounts for investing in parking sensors or blind-spot monitors to reduce the likelihood of auto damage.
Where you park your car at night can have a big impact on auto insurance premiums. Auto insurance companies consider drivers who leave their cars parked in high crime or bad neighborhoods overnight as risky drivers. Next time your park your car, consider parking in a safer area to avoid a higher auto premium.
The best way to see if you are getting the most for your money is by comparing auto insurance rates at least once a year (pssst..we can help!). Leveraging a free tool that can compare auto insurance rates will save you time and effort when shopping around.
For example, our system scans through hundreds of providers' premium rates and finds the most up-to-date rates in your area. Then, it recommends the top 3 quotes for your circumstances and preferred coverage levels.
You can compare and purchase car insurance quotes in a matter of minutes, and don't even need to pick up the phone (unless you want to, of course!).
Auto insurance is a necessity for as long as you own a car. While auto insurance can be fairly expensive, there are ways to reduce your monthly payments. If you follow the suggestions written above, auto insurance payments should be lower within a few months!