4 of 5 Drivers Saw Car Insurance Rate Increases Last Year - Here’s How You Can Save

If you truly love your car the way you love yourself, then you will not hesitate to insure it. Car insurance is an essential expense. Despite offering protection in case of accidents, most people don’t have a difficult time shelling out the money. If you feel like you’re paying too much for car insurance, then it’s time to change the game and find affordable rates without impacting your level of protection.

Shop Around and Compare Insurance Rates

Car premiums vary from one insurance company to the other. In case your policy is about to expire and you think your current insurer is overcharging you, then it is time to shop around. Obtain not less than three quotes from top competing companies. You may not know, certain companies might be charging relatively lower rates for the same level of protection. Be wise not to compromise on protection. Do a thorough check on the company’s rating to determine their financial strength. After all, who will want to be insured by a company that is incapable of paying if the worst happens? Additionally, be sure to check on the contract before signing. Look beyond the price!

Compare Costs

Prior to buying a new or old car, it pays to check what the insurance will cost. Most insurance companies determine premiums based on the price of the car, repair costs, probability of theft and safety records. If your car has reduced chances of theft or injury, then you can get a discount. Consider asking for a quote before buying.

Seek Higher Deductibles

You can lower premium costs by requesting higher deductibles. This is the amount you pay when making a claim. Determine the amount you can afford then adjust the deductible appropriately. There is a substantial difference in deductibles such as $250, $500 and $1000. A higher deductible can save you a lot. Insurance deductibles vary depending on the state. Check to see the amount you can save through raising deductible.

Drop Unnecessary Coverage

It doesn’t make much sense to pay for something you don’t need. Depending on the age of your car, certain types of coverage can be dropped. If you have an old car, you can leave out comprehensive or collision coverage depending on your personal driving records, cost of the car and other features.

Consider Your Financing Options

If you’re financing your car with a bank loan, then your lender will be listed as loss payee and additional insured. However, this should not scare you as it doesn’t cost you anything additional. Alongside the minimum state requirements, lenders need full coverage which includes collision and comprehensive coverage. If you’re purchasing a car independently, then you have more control when it comes to auto insurance and the extent of coverage.

Good Driving Counts

If you have poor driving history, then you’re more likely to pay more in premiums than someone with a clean driving record. You will be rewarded with a discounted insurance premium if you are a safe driver. Abstain from speeding, observe road signs and traffic rules to stay accident-free. If you can go for three years without being involved in an accident, then you increase your chances of getting lower rates.

Save on Gas

If you are an occasional driver, then it means you save on gas and you should let your insurance company know it. Limited time on the road implies fewer chances of getting involved in an accident. You can use gas savings to bargain for a lower premium from your insurer. Alongside the low mileage, being a carpooler can also help you save on rates. You can also move closer to where you work to reduce the distance you commute every day.

Use an Auto Warranty to Save on Repairs

An auto warranty protects your car from losses resulting from mechanical problems. It pays for new parts and secures repairs in the course of the warranty period. Although it doesn’t cover you against collisions, you can use it to safeguard against repairs. Car repair savings can help you enjoy a reduced premium.


Car insurance is paramount but paying for those monthly premiums can prove to be a challenge to many individuals. If auto insurance is becoming a burden, then consider shopping around for reduced insurance premium rates, make use of mileage discounts, be a smart driver, compare costs, drop what you don’t need and use auto-warranty services to save on repairs and more.

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