Owning a car has become an expensive necessity. Insurance premiums are one of the biggest costs associated with owning your own vehicle. Car insurance can cost thousands of dollars per year, depending on which company you use and the type of vehicle you drive.
Here are 10 ways to save money on a car insurance bill. Now, let's take a look at the best saving solution for car owners with CouponUpto.
1. Raise Your Deductible
Your car insurance deductible is the amount that you must pay before your policy pays for damages and injuries that occur in an accident. The amount you'll have to come up with can be substantial, especially for newer cars. If you're willing to raise your deductible (that is, the amount of save money on car insurance you must pay out-of-pocket before your insurer pays), you can shave hundreds of dollars off your annual premium. You'll likely also want to increase the percentage of collision and comprehensive coverage on your vehicle if you choose this option. This will help ensure that you still have the coverage needed if an accident does occur and your vehicle is no longer drivable.
2 . Sign Up for Paperless Billing
If you're like most people, you probably pay your car insurance bill by check or through automatic withdrawals from your bank account each month. While this may be convenient, you're missing out on a golden opportunity to save money on car insurance. Many insurance companies offer discounts of up to 5% (and sometimes more) for paperless billing.
If your insurer doesn't offer this option, consider switching providers. Look for an insurer that offers an online account-management portal so you can track your policy and pay your bill online. And of course, you'll want to opt for paperless billing when it's available.
3. Maintain a Good Credit Score
Your credit score can have a big impact on the price that you will pay for car insurance. Insurers typically offer the best rates to customers with excellent credit scores who are good drivers. If you have poor credit, expect to pay a lot more for your car insurance premiums. On the other hand, if you have a great score and drive well, you can take advantage of lower rates.
4. Ask About Discounts
There are lots of best coupons for cars available from car insurance companies that can help lower your premium. For example, if you work from home and don't commute to a job, ask your insurer about a discount. If you have more than one car on the policy, see if there's a fleet discount available. Other discounts may apply for students (age 25 and under) with good grades who are enrolled in an accredited college or university full-time, as well as married drivers and retired people. Make sure to ask about all available discounts that you're eligible for.
5. Increase Your Deductible on Comprehensive Coverage
If your car is older or low value, consider increasing the amount of saved money on car insurance you have to pay out-of-pocket before your insurer will cover a loss. This will reduce your premium by an amount proportional to the decrease in the value of your car. You should be aware, though, that if your insurer doesn't pay out when you make a claim, you may not have enough saved money on car insurance for repairs or other expenses related to the incident (including rental car fees).
6. Don't Miss Your Renewal Date
Make sure you don't miss your renewal date. If you pay for six months of coverage and only renew the policy for three, you'll lose out on a significant discount that will be applied to your next year's premium. Depending on which state you live in, insurers aren't allowed to charge more than 10% above the previous year's premium, so you'll want to make sure your account is up-to-date.
7. Avoid Traffic Tickets
Getting a traffic ticket can cost you more than time and money – it can also result in an increase in your car insurance bill. An accumulation of points on your license will affect the price that you pay for your car insurance, and traffic tickets can cause you to lose your good driver discount. So remember to avoid traffic tickets to save money on car insurance.
8. Reduce Your Mileage
If you drive a considerable number of miles each year, consider reducing the amount you put on your car. This will lower the risk profile of your policy and offer a corresponding rate reduction. Of course, if you drive a lot of miles, you might not want to reduce the amount you drive as this could cause problems if your commute is necessary. Perhaps you can find a co-worker who lives near your office and carpools with them on days when you need to travel for work.
9. Increase Your Deductible on Liability Coverage
If you're not comfortable with having a deductible in the hundreds of dollars, it's time to reconsider. Increasing your liability coverage's deductible can reduce your monthly premium significantly. This is especially helpful if you already have good credit and are insuring a newer vehicle.
10. Get an Umbrella Policy
This is a good idea for anyone who has assets that they worry might be at risk if they get sued after being involved in an accident. An umbrella policy provides extra liability protection for accidents that are not covered by your regular car insurance.
Conclusion
By following these best saving tips, you can save money on car insurance quite a bit of money on your car insurance each month. Be sure to compare quotes from different insurers in order to get the best deal possible.
