Based on what state you live in, how much car insurance you need will vary. In some places, you might not even be legally required to have the coverage. However, it’s never a good idea to go without it wherever you are. Once you make sure you have it, though, you should do what you can to find a better rate.
If you can save up enough money in your bank account to handle most car expenses, including repairs, then you don’t need a low deductible. When you can raise your deductibles to the maximum, the odds of your filing claims are lower. Insurance companies will reward you with lower rates on your premiums as a result. So keep some money ready for any expenses you may encounter.
Everyone knows they should shop around for car insurance, but that can also take time. While most car insurance providers make it fast and easy to get a quote, there are dozens to hundreds of options depending on where you live. An insurance broker only needs your information once, and then they’ll find the best deal for you. That saves you a lot of time. You’ll also have access to their personal expertise and network of connections that help you get better coverage.
Your credit report has a huge impact on anything from credit cards and mortgages to the rate of interest on your car loan. However, your credit score also impacts your insurance premiums, as well. It’s not as much impact as other areas, but higher scores should result in lower premiums.
Many car insurance companies have tracking devices you can attach to your car to monitor your driving when out and about. Just activating one can give you some discount. Of course, actual good driving is the biggest discount of all. There might also be options for safe driving school and continuing driver education courses or certifications.
One final thing you should remember whenever it’s time to renew or shop around is to pay the policy in full. While most auto insurers will let you spread out payments over the 6 or 12 months of the policy, they might also charge you $3 to $5 per month to do this. Paying everything in advance can save you approximately $50 a year, and that might equal one month of premiums.