Car insurance is one of life's necessities. But there's no reason to pay more than you need to. It never hurts to talk to your insurer about the little details that can make your coverage cheaper, without sacrificing the protection you need while on the road.
1. Install an Alarm System
If your car doesn't already have an anti-theft device, adding one can make your insurance more affordable. The logic is pretty obvious: lower risk of your car being stolen equates to a lower risk you'll have to make a claim under your policy.
2. Take High-Risk Drivers Off Your Policy
Everyone needs car insurance, but not everyone is viewed the same way by insurers. Newer drivers and those with poor accident histories are usually more expensive to insure. Review your options to either give them their own, separate insurance, or ask your insurer how to lower the risk and premium rate. For example, enrolling in a driver education course may help.
3. Choose a Less Desirable Car Model
Flashy vehicles may make others envious. They are also a target for theives. Insurers know this, which is why it costs more to insure models that are often stolen. Older cars may also be cheaper to insure because they can cost less to repair. Newer generation cars have more high-tech components that are more difficult and expensive to fix, leading to higher cost of claims.
4. Bundle With Other Insurance
Insurers and brokers want as much of your business as possible. So you can get a better rate if you buy a package that includes several policies. It's not uncommon for people to combine home and auto insurance, for example, for less money than the same coverage might cost through separate insurers.
5. Limit Your Drive Time
Less time on the road means a reduced risk of accidents. So if you only use your car occasionally, let your insurer know. If the price difference is significant enough, you may want to consider committing to a public transit routine a few days a week. Also, tell the company if your vehicle is seasonal -- for example, an RV or motorcycle you only use in the summer. That can broaden your options for cheaper coverage.
6. Use Your Connections
Often professional and alumni associations can be gateways to cheaper car insurance. Check out whether your insurer offers special rates to certain groups. It may be just another way your professional dues or the money you spent on tuition come in handy.
7. Ask About Special Discounts
These are just some ideas. The truth is that your insurer may have unlimited ways for you to save, although they may not advertise that fact. Have a chat with the company to see if there are any other ways you can demonstrate you are a low risk and deserve affordable coverage.
Shop Around for the Latest
Step one in your search is to compare car insurance quotes on Insurance Hotline. See what's out there and find new ways to save money on your ride.