If you are like me, you are looking for ways to save a few dollars wherever you can. I was able to lower my auto insurance premiums by making a few changes to the policy. Here is an overview of what I did. You can probably get a few ideas from my experience to help you lower your car insurance premiums too.
Do you have the best rate?The first thing that I did was call around to get quotes from a few different insurance companies. You have to be careful to make sure that they are providing the exact coverage as your current insurance policy to you have an apples-to-apples comparison.
After checking around, I realized that my insurance company actually gave me the best rate. So my next step was to look at my policy to determine if I could save money by making some changes.
Can you raise your car insurance deductible?
My deductible was pretty high, and I haven't had an accident or a claim in years. I asked my insurance company to tell me if I raised my deductible to different amounts what my new insurance premium would be. I was shocked by how much I was able to save by just raising my deductible a little bit.
I'm a pretty cautious driver, so I felt comfortable making this change. You'll have to see how a new deductible would impact your insurance premiums and if you would be willing to take the risk.
I didn't even know that my insurance coverage included roadside assistance.
My parents purchased AAA coverage for me a few years ago, and they renew it every year on my birthday. Since I have AAA, I don't need to have roadside assistance on my auto insurance. I was able to save a few bucks by having my insurance company remove the roadside assistance from my policy.
Health insurance? I thought this was an auto insurance policy.I was also surprised to see the amount of medical insurance coverage that was included with my auto insurance policy. I have pretty good health insurance through my company, so I had my auto insurance company remove the medical coverage for me from my auto insurance policy. This reduced my auto insurance premium by a fair amount.
Does your auto insurance company offer other types of insurance?
I found out that I could also get renter's insurance through my auto insurance company. By combining my auto policy and my renter's insurance, I was able to save a few dollars on both policies.