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February 19, 2024

Smart ways to save on auto insurance premiums

We all know that auto insurance is a necessary expense to protect ourselves and our vehicles on the road. But wouldn't it be nice to find ways to trim those premiums without sacrificing coverage? Below, we share some smart strategies to help you save on your car insurance premiums without compromising on quality protection.

Shop around
Just like any other purchase, it pays to shop around when it comes to auto insurance. Different insurers offer different rates and discounts, so take the time to compare quotes from multiple companies to find the best deal that meets your needs.

Bundle your policies
Many insurance companies offer discounts for bundling multiple policies, such as auto and homeowners insurance. By consolidating your insurance needs with one provider, you can often enjoy significant savings on your premiums.

Maintain a good driving record

Your driving history has a big impact on your insurance premiums. By practicing safe driving habits and avoiding accidents and traffic violations, you can qualify for lower rates over time. Make sure to check safe driver discounts, too.

Choose a higher deductible

Opting for a higher deductible can lower your premiums, but make sure you have enough savings set aside to cover the deductible in case of an accident.

Drive less

Need to get more steps in? Maybe knowing that many insurers offer low-mileage discounts for drivers who put fewer miles on their vehicles each year may inspire you to walk more. If you carpool, take the Metro, or work from home, you may be eligible for these savings.

Take advantage of discounts
Ask your insurance provider about any discounts you may be eligible for. Common discounts include multi-car discounts, and discounts for safety features like anti-theft devices and airbags.

Maintain a good credit score
Believe it or not, your credit score can impact your auto insurance premiums. Insurers often use credit-based insurance scores to determine rates, so maintaining a good credit score can help you qualify for lower premiums.

Review your coverage regularly

Make it a habit to review your coverage annually to ensure you're not paying for more coverage than you need. For example, if you've paid off your car loan, you may no longer need comprehensive and collision coverage.

By implementing these simple strategies, you can keep more money in your pocket while still enjoying the peace of mind that comes with having quality car insurance coverage.

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