7 Super Ways to Save on Your Auto Insurance Premiums

The amount of money you shell out for automobile insurance can fluctuate wildly from one company to the next, so it’s definitely worth your while to explore all the ways you can save money.  Prices are steadily going up on many of the goods and services we rely on in our daily lives.  Here are 7 super ways to regain control over how much your auto insurance will cost you:

• Improve your driving record - You may like getting out into the left lane, turning up the music, and running your own version of the Indy 500 every day, but speeding needlessly puts your driving record (and safety) at stake. While there may be certain situations where you feel the extra speed is justified, gaining an extra five minutes for weekend rest and relaxation shouldn’t be one of them. Not only do you endanger others on the road, you increase your gasoline budget, and improve your chances of getting a speeding ticket. Leave a few minutes earlier, save money, and relax with the knowledge that you don’t have to hyperventilate every time you see a police car.
• Improve your credit - You may think it’s nobody’s business but your own if you make your credit card payment on-time, but insurers are increasingly peeking into your credit history when quoting auto insurance rates. By taking the simple step of reviewing your credit report for accuracy once or twice a year, you may be able to significantly reduce your auto insurance premiums. Not only can you ensure that you’ll get the best loan rates and terms whenever you utilize your credit, but you can also cut down on how much your auto insurance will set you back each month.
• Put junior in his proper place - If, like millions of others, you are at the stage of your life where one or more of your kids is beginning to drive you’ve likely discovered that young drivers can significantly increase your insurance premiums. Look into every chance you have to save money. If your teen drivers are good students, you can usually save a lot of money by qualifying for the Good Student discounts many insurance companies make available. Barring that, if your teens have their own vehicles and won’t be driving the family car, look into insuring them for only the vehicle they’re going to be driving. It may be less expensive to include their vehicle on your coverage, but it may sometimes be less expensive to have your teen get a separate policy.
• A garage can save more than just your paint - If possible, you should garage your vehicle. You’ll save on your insurance premiums and you’ll also significantly reduce the odds that your vehicles could be broken into, be struck by passing motorists, or suffer storm damage from tree limbs or even hail stones. And unless you have birds in your garage it can also reduce the likelihood that your vehicle could be targeted for an aerial attack by passing flocks of birds.
• Pay the right way - Many insurance companies are willing to give you a discount for automating your premium payments or paying annually, semi-annually, or quarterly. Depending on the company the payment options available to you could include credit or debit card payments or pre-authorized drafts from your checking or savings accounts. Automating your insurance premiums can guarantee that your coverage stays in force - and your premiums are always paid. So take advantage of this money-saving opportunity.
• Only carry as much coverage as you need - You may think you’re being prudent by carrying full coverage insurance on your vehicle, but if it’s ten or more years old, it may be less expensive to carry liability and comprehensive coverage only. Full coverage insurance is designed to pay for your vehicle in the event that you have a collision that’s your fault. Unfortunately, the cost of this coverage can be cost prohibitive. Consider the value of the vehicle you’re insuring and make an informed decision about whether or not you would be best served in fully insuring your vehicle.
• Student discounts aren’t just for kids - Finally, more and more Americans are returning to college campuses and completing college educations. If you’re one of these non-traditional students and you’re able to maintain good grades, you may be able to qualify for a good student discount. If you’ve worked hard for that ‘A’ it makes sense that you would want to save a few dollars on your insurance premiums if possible.

Small savings opportunities can add up to substantial savings.  You work too hard for your money to pay more for your auto insurance than you need to, so take advantage of these valuable discounts and premium reductions.  And don’t forget to comparison shop for the best rate.  A good insurance broker can be a real lifesaver by helping to automate the shopping experience and giving you the coverage and premiums you deserve.  Let your broker’s fingers do the walking - while you reap the rewards!

Tagged as: auto insurance, car insurance