3 great ways to lower your car insurance

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There are multiple ways to crunch the numbers and start saving on car insurance costs.

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No one likes to pay more than they have to. This is particularly true during times of nagging inflation and higher interest rates. What may have been inexpensive or reasonable in recent years has become pricier recently. As such, it always helps to look for ways to cut corners and save money where possible.

For the millions of drivers on the road, this includes looking closer at car insurance costs and coverage. Fortunately, there are some tried and true methods drivers can use to lower their monthly insurance bills without having to sacrifice coverage and protection.

If you think you’re paying too much for car insurance then start by getting a free quote to find out how much you could be saving.

3 great ways to lower your car insurance

There are multiple ways you can potentially lower your car insurance. Here are three of the best.

Shop around for insurance companies

Just because you already have a car insurance provider it doesn’t mean you should stop shopping around for alternatives. Many car insurance companies would be happy to have your business and would be willing to offer you a competitive rate to jump ship. 

Most financial experts recommend getting quotes from at least three different providers so you can establish a baseline of coverage and cost. Just make sure you’re getting useful information. So if you get a quote from one provider for a specific year, make and model make sure you get quotes from the other two companies for the same year, make and model. That will ensure that you’re doing an apples-to-apples comparison. It will also provide clearer insight into what insurance company is actually offering you a better rate and what company only seems like they are.

Start by getting a free quote now or use the table below to easily start shopping companies.

Review your existing policy

Are you paying for coverage that you don’t need? Or once did but don’t anymore? Look at the fine print of your current policy and try to determine where you can cut corners. If you’re not sure how to go about this then feel free to call your insurance company directly. They can review your policy in detail to see if there’s any place where you could be saving.

For example, you could be paying for protections you don’t need anymore. What you may have needed when your car was brand new you may no longer need for an older model. You may have also been paying extra for drivers that have since secured their own insurance policies. Or you may have coverage that sounded good when you signed up but that you now realize you no longer want.

Do your homework and review your policy carefully. You may be pleasantly surprised at the money you could save.

Look for discounts

You may be eligible for a variety of discounts that can significantly reduce your current rate.

If you attend a defensive driving course – and receive a certificate of completion – you may be eligible for a significant discount with your provider (think 10%). For larger companies that offer a wide range of insurance types, you may be able to get a discount if you bundle your car insurance with a home insurance policy, too. You can also potentially get a discount if you have a certain occupation, if you’re a veteran, or if you belong to a specific organization or academic institution.

If you’re happy with your current insurance provider and simply want to reduce costs then hop on the phone and speak to a provider. They can review all of your discount options and get you started.

The bottom line

If you’re a safe and conscientious driver then there’s no reason why you should have to pay top dollar for car insurance. So start shopping around for providers to see what they’re willing to offer you. And be sure to review your existing policy for any saving opportunities. Finally, don’t be afraid to look for discounts and check eligibility requirements. You may be able to reduce the cost of your monthly bill simply by having a certain job or by taking a short safety course.

Start crunching your car insurance numbers online now and find out how much you can save.

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