1. Check your credit score- Many insurance companies use your credit score to help determine your premium.
2. Compare rates from different companies- Use an online tool like The Zebra to compare rates from different companies.
3. Choose a higher deductible- A higher deductible means you’ll have to pay more out of pocket if you have an accident, but it also means you’ll get a lower premium. 4. Switch providers annually- Depending on where you live and drive, premiums can fluctuate quite a bit throughout the year. Switching providers annually can save you hundreds in premiums each year!
5. Get liability only coverage- Liability only coverage will cover damages to other people’s property and injuries that are caused by your car if you are at fault in an accident.
6. Bundle with home or renters insurance- If you bundle your car with either home or renters insurance, you could save up to 20% off of both policies.
7. Look into no fault states- Some states are considered no fault which means that anyone who is injured in an accident is entitled to compensation regardless of who was at fault (though they may not receive the same amount).
If you live in one of these states, your costs might be lower because there is less red tape.
-Some great no fault states include Florida, Michigan, New Jersey, and Pennsylvania.
You might also want to consider moving to these places if you’re living in a state that isn’t no fault so that the next time something happens, you don’t have any hassles with sorting everything out!
Protect yourself by buying personal injury protection- Your PIP insurance will protect you and your passengers against medical expenses, lost wages, funeral expenses, and other damages related to bodily injury sustained in an accident. PIP is often offered as part of a standard auto policy or as an optional add-on with additional cost. It pays 100% of your medical bills and lost wages when you’re unable to work due to a covered accident, while health insurance only covers 80%. When shopping for car insurance quotes, make sure to check whether or not PIP is included before agreeing to anything. Not all states offer this type of coverage, so if you live in one that doesn’t then you’ll need to go through the process of getting your own PIP plan separately. Luckily, this usually only requires filling out a quick form and paying an extra monthly fee. Make sure to keep all receipts just in case!
Pay attention to what discounts your insurance company offers- Sometimes you’ll qualify for a discount without even knowing it! For example, many students qualify for discounts based on their student status, and some occupations like firefighters qualify for discounts based on their occupation. There are lots of ways to reduce the cost of your premiums and still have quality coverage! Don’t feel pressured to buy a high-priced policy just because you think you need it. With a little research, patience, and persistence, you should be able to find a low-cost option. To start, you’ll want to do a little bit of research. Google the top 10 cheapest insurance providers in your area and compare rates. That way, you’ll know for sure that you’ve checked with every option available to you. Next, take your list of insurance companies and call them one-by-one to see how much each company would charge for your desired coverage.
Keep in mind that you’ll have to provide your insurance information, such as age, gender, and driving history. After you’ve collected a few quotes from different companies, it’s time to decide on one! The most important thing to remember is that you have a choice. The key is to stay patient and persistent until you find the best deal. It might take a bit of time, but it’ll be worth it in the end! Now that you’ve done all of your research, it’s time to get those new car insurance quotes set up! Stay tuned for the second half of our blog post where we’ll discuss more tips on how to get the best deal possible.