Nobody likes paying for car insurance. You pay every month toward something that you hope you will never have to use, and you don’t have much choice about it because it is illegal not to carry insurance in most states. The problem is that driving without insurance can be even more expensive in the long run. Here are some ways to make sure you have the coverage you need without spending more than you ought to.
Carry Higher Deductibles
If you’re a great driver who never gets into accidents, there is a good chance you will rarely ever need to file an insurance claim. You can save money right away by betting on your driving skills and signing up for a plan with higher deductibles. If you don’t need to file a claim, you’ll get away with paying less on your annual premiums. If you do need the insurance, you will still have the coverage to back you up. The only catch is that you should make sure the deductibles are realistic for your finances. You’ll have to pay the deductibles off before your insurance will begin to cover expenses, so don’t gamble on deductibles that you wouldn’t be able to handle.
Install Additional Theft Deterrents
Many insurance companies offer special discounts for drivers that use anti-theft devices on their cars. You can save money by using a simple steering wheel lock whenever you park. You’re more likely to save a bigger chunk of money if you spring for an electronic alarm system or a tracking system that will help police find your car if it is stolen.
Don’t Pay More than You Have To
Not every car needs to carry collision insurance. If your car is more than five years old, there is a good chance that any substantial damage would cost more to repair than your car is actually worth. There’s no reason to pay more for collision insurance when it wouldn’t make a difference in the amount of coverage you will actually use after an accident.
In addition, the exact same insurance from another company may be cheaper. It pays to compare car insurance rates and companies to be sure you never overpay.
Buy a Car with a High Safety Rating
The safer your car is, the less you will pay for insurance. Look up safety ratings for different makes and models before you go car shopping so that you can find one that will be cheaper to insure. Stay away from compact cars and sports cars, since those tend to carry the lowest safety ratings overall.
Don’t Double up on Coverage
Sometimes an auto insurance policy includes coverage that you already carry through a different insurance plan. For example, you don’t need to buy extra medical coverage through your car insurance if you are carrying a good health insurance plan. Additional coverage options like rental cars and towing could also be eliminated to keep your insurance costs down.
Take Advantage of Multiple Car Discounts
If you live in a home with more than one driver, you might qualify for a multiple car discount. Insure your spouse or children through the same insurance company that you use and you will be eligible for a nice discount on your coverage through most car insurance carriers. Usually all of the drivers have to be related in order to qualify.
Jessica Bosari blogs about car insurance for CarInsuranceQuotesComparison.com where you can learn how to save money on car insurance through discounts and comparing quotes across several companies.