Money is tight, and many people are tightening their purse strings. If you’ve been trying to save money each month, you may have read tips about eating at home, using less electricity, cutting out cable or using coupons to reduce your grocery bill. Insurance companies compete fiercely for customers, so this means that you could see significant monthly savings by putting in a little effort to find the best deal. Here are five ways you can save.
Credit is used for many things today, including setting you insurance premiums. Ensure you’re getting the best rates by getting copies of your credit reports and taking care of any errors. If you habitually pay your bills late, make a commitment to paying them on time. As your credit improves, so will your insurance premiums.
Getting quotes online can save you a big chunk of change. There are reputable websites available to help you get quotes from several insurance companies at once. This can save you lots of time that you’d otherwise spend on the phone or individual websites getting separate quotes from each insurance provider.
Ask for Discounts
If you haven’t asked your current insurance company for a discount, try it! They may be unaware of circumstances that may lower your insurance, such as getting married or taking a driving course. If you have teenage drivers in the home, they can qualify for good student discounts. For those who don’t drive much, low mileage discounts are available.
One of the easiest ways to save money on your insurance premiums is by bundling your policies. When you combine insurance products for your auto, home, RV, ATV, life insurance and more, you’ll find that you save money on all of these policies because the company is getting more of your business. You should also get several quotes for bundling to get the best deal.
Don’t Over-Insure Your Vehicle
As your vehicle ages, it makes sense that you should pay less for auto insurance because the car is worth less. For an older car, consider dropping your full coverage policy to one that only covers liability. This will depend on your car’s worth, however, so check the Kelly Blue Book to determine whether it makes sense financially to keep more coverage. Some cars hold their value better than others do.
It requires a little work and planning, but you can save money on your car insurance rates. Don’t be afraid to ask for discounts and shop around to find the best deal.