How to Save on Car Insurance
(Without Giving Up Your Car)

A car is an expensive purchase; from the initial cost of the vehicle to regular gas fill-ups, servicing and repairs, there are endless expenses associated with owning a car. And yet, while car insurance is among these necessary expenditures, there are many ways in which car owners can reduce their car insurance fees. Taking a few hours of your time to research your car insurance options is the best way to save on car insurance without compromising the features and offerings that you want or need.

Driving safely at all times will keep your record clean which will reduce your rates.

Before looking for car insurance price quotes, it's important to determine exactly what type of policy you currently have and which features you may want to abandon or add in the future. From there, you can begin to research comparable policies. Keep in mind that certain factors will reduce the price. Consider which of the following applies to you so that you can find the best rates:

  • Determine whether you can increase your deductible in the event of an emergency. Doing so will lower your monthly costs.
  • Think about joining an automobile organization or other professional association such as AAA that may offer discounts on car insurance.
  • Consider dropping your theft insurance if the combined annual cost of the insurance is more than 10% of the car's value.
  • Determine whether you need medical or personal-injury protection. These policies will raise your rates and may already be covered by your health insurance company.

In addition to these standard ways to save on car insurance, you can lower your rate depending on your personal driving record and credit report. Driving safely at all times will keep your record clean which will reduce your rates. Likewise, paying your bills on time will maintain a healthy credit report which will lower your car insurance rates. Here are some other situations that may help you save on car insurance:

  • Newlyweds can often lower their rates by combining their car insurance policies.
  • Taking a defensive driving class every 3 years will make participants eligible for a discount.
  • Drivers over age 55 can often save on car insurance by taking additional driving classes.
  • Parents of college students who are living away from home may be able to request a price reduction. Similarly, parents who want to gift a new car to children who are new drivers can reduce their insurance rates by getting new drivers an older car and listing your child as the primary driver.
  • Some insurance companies offer discounts to students with good grades.
  • If you're purchasing a new car, be aware that different models have different insurance prices. More expensive cars will require higher monthly payments, while extremely popular cars will have a higher chance of theft which will likely increase rates. Purchase a low-profile car to keep your payments as low as possible.

The internet is a powerful tool to aid in the research of potential car insurance companies. Once you find the cheapest price quote make sure to check out the company and make sure that it provides reliable coverage- it won't help to get the least expensive coverage if they won't cover your claim when the time comes.

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