auto insurance

How to Save Money on Auto Insurance

Insurance in the United States is now required by every driver behind the wheel of a motor vehicle.  If you're driving without any kind of car insurance, than you're essentially breaking the law and liable for any tragedies that arise from lack of coverage. It boggles my mind how people haphazardly choose their auto insurance policy without doing the proper research. 

Picking your coverage without knowing it's options and before shopping around first is plain irresponsible.  If you're driving without any insurance at all, you're putting not only yourself at life-changing risk, but every driver and their passengers as well. No, while you cannot improve your driving record overnight, there are many viable options in substantially lowering your insurance premiums, that will lead to hundreds or even possibly thousands of dollars in auto insurance savings each year. 

Being a driver has increased in cost, the cost of fuel, registration, D.M.V. fees, etc, so why not lessen the blow by choosing an insurance policy that is not only fiscally appropriate, but gives you sufficient coverage.  Here are seven ways you can lower your auto insurance within a few months.

#1 Park in the Garage

Do you have a garage that you're not using as a garage, but as a storage space?  Well, it's time to do some spring cleaning.  A big majority of quality insurance companies will offer you great discounts for a vehicle that is parked inside of a garage.  Statistics prove that cars parked inside, rather than in driveways or on side streets are less likely to be in accidents, vandalized or stolen.

#2 Don't Pay In Monthly Installments

Many companies will charge a monthly fee for policies paid on a monthly basis.  Those pesky monthly fees, while they are usually minor, do add up.  It's is more financially prudent to pay yearly. If not annually, than at least pay for six months of insurance at a time.

#3 Bundle Your Insurance Policies

One of the most highly under-valued ways to lower your car insurance and your homeowner's insurance is to bundle both policies under one company.  This can save you up to 15-20% on each, auto and homeowners.  If you're serious about saving on insurance, this is the one to start with..  I understand for some, it is quite the daunting task to go out and actually discuss bundling policies with insurance reps, but it will undoubtedly pay off in the long run.

#4 Car's Security and Safety Features

The safer your vehicle is, the more discounts you can be approved for, such as being equipped with anti lock brakes, airbags, anti-theft devices such as low jack and a car alarm all qualify you and your vehicle for good discounts off your insurance policy. Be sure when you update or reevaluate your policy to note your car's safety features to get the most out of available discounts.

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#5 Opt for a Higher Deductible

I would only advise this if you're a very safe driver with an immaculate driving record.  When you choose to have a higher deductible on your policy, the lower your premium will cost you, but the trade-off is you will be paying more on accidents.  So, if you're not the most observant and defensive driver, I wouldn't favor paying a higher insurance deductible.

#6 If You Drive Less, You Should Pay Less

If you're not an everyday commuter, or you just plain don't drive regularly, take some time and go over your policy a little bit more thoroughly.  Make sure you pick the policy that syncs with the duration per day you actually drive the vehicle, it's there for people who drive considerably less than other drivers.  The first rule about saving money anywhere, is not to pay anything unnecessary.  That is how most people lose money, not fully understanding what they're paying for, and their inherit rights as a consumer.

#7 Good Student Discounts

If you're attending your classes at school, have a good record, and receiving good grades, many insurance companies will give you a great discount.  The reason being that from the insurance company's perspective the "good student" is a productive, responsible, and conscientious  person, that will most-likely be a good driver, and a good investment on the insurance company's policy reduction.  I hope this article has been helpful for the insurance weary driver, If you have any opinions or suggestions, please do feel free to leave a comment, thanks for reading, and drive safe out there!

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