Tips for Paying Less for Auto Insurance

One of our biggest monthly expenses is paying our car insurance premiums and people are always looking for ways to spend less. While it may seem as though every company is offering the same rate, there are ways to get discounts, deals, and lower premiums that can help you save more money on this necessary expense.
Compare Insurance Company Rates

This involves more than just a casual glance at a quick online quote. First, keep a pen and pad close by, so you can record coverage limits and deductibles. You want to make sure you’re checking rates for the same exact coverage with each company, so you can see who really is offering a lower rate. You may not find everything you need for your comparison, so also jot down a customer service hotline for each company, as well.

Pay Attention to the Insurer’s Payment Policy

This is as important as getting a lower rate because a late payment could cost you more in late fees. Even worse, some insurers will cancel your policy as soon as a payment becomes past due. Find out how they treat late payments and how payments are accepted. Can you pay online? Or do they require you to pay at an office or via snail mail?

Make a Few Phone Calls

Even today, not all insurance companies will allow you to get a free quote online. You may have to call those companies to get answers to your questions and to get your quote. Sometimes, this can actually be faster than trying to get quotes online. Either way, make sure you have your driver’s license, vehicle information, and facts about your driving record handy. The more information you can provide to an automobile insurance company Bridgeport WV, the more accurate your quotes will be.

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Always Compare Rates

Anytime your policy comes up for renewal, check for cheaper rates. While it’s rare for individuals to beat a rate they’re getting from an insurer they have been with for several years, you never know what deals other companies will offer to get your business. It can’t hurt to keep your options open.

Can You Raise Your Deductible?

One reason you may be paying so much for your auto insurance is that your deductible is set too low. If you’re generally a safe driver and haven’t had a collision in several years, it may be worth it to raise your deductible. Just remember, if you do have an accident, a higher deductible means you’ll be expected to pay more out of pocket. How much can you save? Increasing a $200 deductible to $500 can drop your monthly premiums by 15-30% and you can bring that up to 40% by boosting your deductible up to $1,000.

Check Your Coverage

There may be some items you can drop altogether. For instance, if you have access to a second vehicle or can use ridesharing services, you might want to drop your rental car reimbursement clause. Similarly, if you receive roadside assistance through another company, this is another feature you can drop to save money.

If you still feel as though you’re paying too much for your auto insurance, contact your insurance company. They may be able to offer you other suggestions for saving money on your monthly premiums.