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Tips to Save You Money on Your Family’s Car Insurance

February 21, 2012

These days everyone is looking to save money wherever they can, and while car insurance is a necessity, it doesn’t have to cost you more than it should. Insurance companies today offer a wide variety of discounts and options to help save some money on your family’s car insurance. If you’re looking to lower your insurance bill, see if some of these tips might work for you.

Save by Bringing your Policies Together

Insurance companies want as much of your business as they can get, and they will offer discounts to those who have more than one policy with their company. You can lower your car insurance rates by having more than one vehicle insured with the same company, but that isn’t the only option. Most insurance companies will also give you a discount on your car insurance if you insure your home with them as well.

And multi-vehicle policies don’t always mean just cars. Check with your insurance company – you could see a discount on your car insurance for bringing your boat, motorcycle, snowmobile or other vehicle over to the same company.

In addition to the savings, you will also have the convenience of having all of your policies in one place. That means talking to one insurance company and in some cases even paying just one bill.

Check Out All Available Discounts

Today, insurance companies offer an incredible array of discounts that can help families to save more on their car insurance. If you have young drivers in the family, you may be facing some hefty insurance rates; but if those young drivers are also good students, you could see a fairly significant savings on your car insurance by qualifying them for a good student discount, offered by some insurance companies.

Another way to get a discount for young drivers is to have them take a driver education course from an accredited driving school. Some insurance companies even have their own course, in some cases a video that they must watch, for which they will offer a discount.

You should also be sure to ask the company for a list of available discounts and make sure you are receiving all of the ones for which you qualify. Look for things like discounts for safety features on your car and other discounts that might not automatically apply.

Quote Before you Buy

Your teenager wants that cool new car, but before you say yes, get a quote. The type of car you drive makes a difference in how much you pay for auto insurance, and a new car, especially if it is a sports car, may cost more. Add to that the already higher rates paid by young drivers, and you have a recipe for a pricey policy.

Consider a safe, economical used car as a first car for young drivers. As much as they may want something fun and flashy, you probably don’t want to pay the insurance bill that goes along with that. And it isn’t just young drivers who should quote a car before they commit to buying it. Too often people buy without checking the insurance rates that accompany it. Smart buyers quote the rates first and make it part of the car shopping process. Doing this when you buy can save your family a lot of money on your policies.

Shop Around for Your Insurance

If you’ve been with your current insurance company for a long time, you are probably receiving a longevity discount, which is a great way to save. It’s important to remember however that it doesn’t mean you are getting the best deal. With the auto insurance market so competitive these days, rates are always changing and the longevity discount might not be getting you as good a deal is you could find elsewhere.

It’s a good idea to shop around for quotes on a regular basis to compare what you are currently paying to what is out there. You don’t have to switch every time you get a quote, but doing the comparisons can help you feel certain you’re getting a good deal. It doesn’t take long to request a few quotes online, thanks to systems that let you get quotes from multiple insurance companies at once.

Car insurance is one of any family’s bigger expenses, and finding ways to save on it can make a big difference. Make sure you’re getting all the discounts you deserve, and that you are paying a fair price by shopping around and taking the time to review your policy regularly. This small effort could save you big money.