By Josh RosenbergHow to save on car insurance? It's pretty simple, actually. The name of the game in auto insurance savings is side-by-side "multiple company quotes". It is just essential for saving money here to be able to compare the same coverage from different companies.
Then with all the facts in black and white, you'll be able to identify the company with the biggest savings.
But the problem is, who has the time? No one really wants to go around to so many insurance company websites. But there is good, and major time saving, news on this.
There are now free, one-stop online services that will quickly do it all for you - all from the comfort of your own home and all in just a few minutes.
The one I think is the easiest to use and the most comprohensive overall is Insurify.com. I'll talk more about them towards the end of this article.
But I also need to point out here that in this day and age online quotes really provide a huge advantage in many car-related sectors, whether it be New Cars, Used Cars, Car Loans or Trade-Ins.
And as a kicker, in terms of car insurance, obtaining a policy online is often less expensive than going through an agent who's paid a commission.
So, I think you'll also find that getting quotes was the way to go. But before getting to that, I think it's also important to be aware of the possible premium discounts which may apply to you. So, let's go over them.
Possible Auto Insurance Discounts
When getting car insurance, various discounts may be available to help reduce your premium. These discounts can vary depending on the insurance company and your specific circumstances. Here are some to be aware of:
Safe Driver Discount: Offered to drivers with a clean driving record, meaning no accidents or moving violations within a certain time frame (usually three to five years
Good Student Discount: If you're a student with a good academic record, you may be eligible for this discount. Typically, it's available to full-time students who maintain a certain GPA.
Teen Driver Monitoring Discount: Some insurers offer discounts if you use a monitoring device to track a young driver's behavior, encouraging safe driving habits.
Usage-Based Insurance Discounts: Insurers may offer discounts based on your driving behavior, tracked through telematics devices or mobile apps.
Low Mileage Discount: If you drive fewer miles than the average driver, you may qualify for this discount. Some insurance companies offer it to those who drive less than a specified number of miles annually, usually about 7,500.
Multi-Car Discount: Insuring multiple vehicles on the same policy with the same insurer often results in a discount for each vehicle.
Safety Features Discount: Vehicles equipped with safety features like anti-lock brakes, airbags, anti-theft devices, and electronic stability control may qualify for lower premiums.
Military or Veteran Discount: Some insurers offer discounts for active-duty military personnel, veterans, and their families.
Pay-in-Full Discount: Paying your annual premium in full rather than in installments can sometimes lead to a discount.
Automatic Payment Discount: Enrolling in automatic payment methods like electronic funds transfer (EFT) can sometimes result in a discount.
Occupational Discounts: Certain professions, such as educators, healthcare workers, and first responders, may be eligible for discounts with specific insurers.
Okay, before going over several other factors to consider for possible policy coverage savings, let's turn to getting those price quotes.
Here's Where To Get Quotes
As I said earlier, Insurify.com will give you free side-by-side quotes from the industry's top insurers, such as Travelers, Nationwide, Farmers, Liberty Mutual, Progressive, USAA and many others.
And the process is simple and fast with no obligation of any kind. Just being curious is fine. Also, even if you don't need coverage immediately, you can save the quotes for when you do need them. And you can also simply take the best quote and ask your existing company to match it.
Plus, even if you have no plans for a new car right now, it's still wise to do this every other year or so to be sure you are not overpaying for your current coverage.
What I like about them is not just their ease of use and immediate response, but also their track record. They've been doing this since 2013 and have placed over 4 million policies. They are not new kids on the block.
And their customer service is excellent as well. You can even speak with someone if you want.
Other Cost Saving Possibilities
Avoid Unnecessary Coverage:Eliminate coverage you no longer need. For instance, if you now have roadside assistance through another service, perhaps you should remove it. Also, consider whether full coverage is still necessary for your vehicle's current value.
Increase Deductibles: Opting for a higher deductible can lead to lower premiums. However, make sure you choose a deductible that you can comfortably afford in case of a claim.
Improve Your Credit: Insurers often use credit-based insurance scores to price premiums. If you have excellent credit, you're likely to get cheaper rates.
Choose a Safe Vehicle: Vehicles with high safety ratings and advanced safety features may qualify for lower insurance rates.
I hope this has been helpful. I think the bottom line here is that the internet has truly leveled the playing field when it comes to car insurance, making it fairly quick and easy to find the most affordable coverage.
All the best - Josh