In today’s economy, everyone needs to save money and spend less. Spending more money than you can afford on your car insurance seems unavoidable, doesn’t it? Like a price you can’t get around? Well it’s not. Everyone can lower car insurance rates – in fact, you can cut them in half!
Before you bring out the big guns, be sure to exhaust the smaller options as well. Avoiding speeding tickets, reducing your travel on the road, citing all safety features, and parking your car in safe places can all lower the monthly rate you pay for car insurance. But now you can go further.
Drop your limits and reduce your coverage
Liability limits are often covered by state minimums, but many car insurance companies have high liability limits – meaning you can afford to lower yours and save money. Find out what the minimum is in your state, and what you’re paying – in all likelihood, you’ll find a very wide discrepancy. Lowering that will slash a lot of dollars off your payments.
Another way to save is to reduce the coverage you pay for. A lot of new car buyers purchase car insurance with comprehensive and collision coverage. After all, you want the best for a brand new automobile; however, many people forget to lower it as the car ages. You don’t need full collision and comprehensive coverage for a car that is over five years old. Find ways to cut back on that and save a lot of money on your insurance rates overall.
Cover the drivers you need
Many families pay for car insurance coverage for children who no longer live in the home. Why pay extra to cover a driver who won’t drive your car? Students who have gone off to college won’t be driving at all – they don’t need any insurance coverage. The same may be true for elder members of the family who can’t drive their cars anymore. By reducing the number of drivers covered by your car insurance plan, you’ll greatly reduce the payments you have to make.
Increase your deductible
A low deductible means you won’t pay much in the event of an accident – but it won’t save you money for driving safely. If you increase your deductible, you risk paying a high price should the worst happen, but it means you’ll save a great deal of money on the insurance itself. The car insurance provider won’t mind taking the risk of offering you a lower cost if you accept the risk of a high deductible. It’s fair and it costs you less! Get free car insurance quotes today to see how much money you can save.