Compare before you buy
Every driver that wants to save on insurance will shop around to see what kind of rates they can get. Sometimes similar plans with the same coverage cost less depending on which provider you choose. It’s important to research what an insurance provider specializes in. You could receive better discounts if they cater to who you are as a driver. Before you buy a new car, you should get a quote on its insurance. Newer vehicles, electric vehicles, or ones that are commonly stolen will have a higher insurance premium. Be sure to look at premium costs for the type of car you want to buy.You can raise your deductible
Raising your deductible amount and out-of-pocket expenses can also lower your insurance premium. Providers with higher deductible options can save you money on your entire insurance payment. However, this means that you have to pay more in out-of-pocket expenses. But, you can save on deductibles if you won’t need a lot of coverage, or want to save money on the entire bill.Consider how you’re paying
Most insurance premiums will renew every 6 months to a year. Your insurance provider may offer different payment options like monthly instalments. Check with your insurance provider to see payment options can save you money. Renewing your policy annually versus bi-annually, or paying in instalments versus a lump sum are some money-saving options.Remember to track your insurance every time you renew your policy so you notice any changes in price.
Check out your insurance provider’s special offers
Every insurance provider is going to specialize in certain drivers. Consider other programs and special offers your insurance provider offers. Some providers allow you to bundle our home and auto insurance, or will offer loyalty discounts. Be sure to look at what special offers an insurance provider can provide such as:- Accident Free or accident forgiveness programs
- Student programs
- Combining different policies
- Combining multiple cars
- Paperless programs
Consider how much coverage you really need
You may not necessarily need full coverage on everything your insurance covers. For instance, your insurance may currently cover a high amount of collision damage. However, if you have an older vehicle, then you won’t need a lot of collision coverage. Talk with your insurance provider to see if it’s possible for you to lower some of your policy coverage. While not every state allows pay-per-mile coverage, if you don’t drive often, then it’s something you should consider. This type of policy allows you to only pay for your insurance while using your vehicle. Be sure to speak with your insurance provider to see if you can compare basic coverage and pay-per-mile coverage.See if you can file as a group
Some businesses will offer a driving allowance in their employee benefits. But did you know that some employee benefits packages also offer group insurance? See if your employee benefits package offers an insurance program. If you need to insure multiple vehicles, you could also see if your insurance provider has a family or multiple vehicle policy.Be a good and responsible driver
This may seem a little obvious, but doing everything you can to avoid traffic violations can reduce your premium. Your insurance provider will reward you if you have a clean driving history. This includes no:- Accidents or collisions
- Traffic tickets
- Driving violations
- Claims made
- And taking driver safety courses