Whether you are getting a new insurance policy for a vehicle you have just purchased or you're tired of your current plan and looking to invest in a new one, there are a few different ways that you might be able to save some money on your auto insurance rates overall. One or more of the following options might be right for your situation.
Combine Your Policies
If your household owns more than one vehicle, consider combining your insurance policies into one. Many auto insurance companies offer discounts for insuring multiple vehicles under one policy. Maintaining just one policy saves the company money, and that savings is typically passed on to customers.
If you aren't the personal owner of all the vehicles in the household, get together with the other owners and find out if they are willing to share a policy with you. You will all be named on the policy and be able to legally drive all of the household vehicles without having to worry about being financially covered while on the road.
Seek Out Special Discounts
There are a variety of different discounts offered by auto insurance companies that are designed to keep the roads safe and to reward customers for their loyalty. But they may not all be prominently promoted, so ask your insurance provider for a list of discount options that may be available to you. Some discount options you may have access to include:
Safe Driving – Earn a monthly discount in exchange for being ticket and accident free for a specified period of time.
Educational Perks – Access discounts after completing driver training courses.
Military Discounts – Pay less for insurance as a service member.
Your auto insurance provider can tell you exactly how to apply for each discount option you think you might qualify for.
Adjust Your Deductible
It's possible to save some money on your monthly insurance costs by adjusting your deductible to a higher rate. This should result in a lower premium, but you will also have to face a bigger financial burden if you get into an accident that's your fault at some point in the future. Make sure you feel confident in your safe driving abilities before considering this money-saving option.
Contact an auto insurance company you trust to learn about more ways you may be able to save yourself and your household some money on insurance costs in the coming years.