How to Save Money on Auto Insurance
Tips for Budget-Minded Insurance Customers
A reliable auto insurance policy doesn’t have to cost you an arm and a leg. If you find yourself on a budget like so many people in America, consider taking a look at the following simple tips. You could find yourself paying much less for auto insurance and putting much toward savings and other financial goals.
Practice Safe Driving
The best way to minimize the cost of coverage is to be a safe driver. Accidents and traffic violations lead to points against your record that can cause insurance premiums to rise. Familiarize yourself with safe driving tips such as staying focused, wearing seatbelts properly, using turn signals adequately and paying attention to traffic signs. Also, avoid driving during inclement weather or hazardous conditions.
Pay in Full and On Time
Get into the habit of paying on time, this will help to improve your credit score: a factor when calculating insurance premiums in many states. Good credit takes discipline but having it pays off in more ways than just lower insurance premiums. Consider paying your premium in a lump sum rather than on a monthly installment. Many carriers offer a discount or lower fees if you pay in full. If you must make monthly installments, set up an auto-pay option to minimize costs and avoid paying late.
Shop Around for Discounts & Deals, Customize
Signing the first policy you are offered is like buying the first car you see on the lot. While it may be the best fit for you, it’s impossible to know if you’re getting the best deal without a comparison. Gather quotes and information from several insurance providers before making a final selection, and don’t be afraid to ask about possible discounts and deals. This will guarantee that you get the deal, policy and provider that is best suited to your needs. Read and review all documents before you sign, the policy may include options that you don't require. Customizing can lower your costs too by making sure you don't purchase more coverage than you need.
Drive an Older Vehicle
It's simple: insuring an expensive new vehicle will likely cost more than what you'd pay for an older one. Keep in mind that the latest models don't necessarily provide more safety and reliability. The cost difference between the new and older models can add up. According to Credit.com: "A 5-year-old version of a certain model is nearly 13% less expensive to insure than its current model year version."
Increase Deductibles and Consult Your Agent
Increasing your deductible means that you’ll have to pay more out of pocket and assume more risk in the case of an accident. If you don't feel sure about being able to come up with the money required to pay your deductible in an emergency, then it's probably better to play it safe by paying a higher premium and selecting a deductible that you can comfortably afford. If you are on a budget but can't seem to be able to lower your premium, contact your insurance agent to discuss all possible discounts. You might qualify for educational, military or environmentally safe features: these are all possibilities your agent can advise you on.
Make sure you're taking advantage of every discount that is available to you. You might be surprised by how much you can save with discounts associated with education, military status, safety features and more.
Protecting yourself and other drivers by having a comprehensive insurance policy is essential, and you may not have to pay as much as you think. These suggestions and other responsible driving decisions can keep your auto insurance costs low and allow you to spend your money on what’s most important to you. For an affordable car insurance quote, call an Infinity Insurance agent at 1-800-INFINITY or get an online quote today.
The materials available in the Knowledge Center are for informational purposes only and not for the purpose of providing legal advice. You should contact legal counsel to obtain advice with respect to any particular issue or problem. Use of this website or any of the links contained within the website do not create representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.