If you’ve been wondering how to save money on car insurance, look no further. Listed below are nine effective tips that will help you reduce your car insurance bill in a significant way.
- Know Your Options
When you’re getting ready to purchase car insurance, you might be tempted to stick with the same insurance provider you’ve always used.
Don’t assume that they have the best rates or are the best option just because they’re familiar. Instead, shop around and consider all your insurance options before you make a decision.
This will help you ensure you’re getting the lowest rates possible. You might also find out about insurance providers with great rates that weren’t even on your radar before.
- Shop for Insurance First
If possible, shop for insurance before you purchase a car. In many cases, insurance premiums will vary (in part) based on the price of the car.
Insurance companies also take into account the cost of repairs to the car, the likelihood that someone will steal it, and its safety record. If you choose a car that insurance providers consider a safe, reliable, and affordable model, you’ll likely be able to get better insurance rates.
When you’re comparing insurance policies, use the type of car you’re considering and try out a few different options to see how the price changes.
- Choose a High-Deductible Plan
One easy way to lower your insurance costs is to choose a plan with a high deductible. High-deductible plans come with lower premiums. The catch, though, is that you have to pay more out of pocket before your insurance will kick in.
If you’re a relatively safe driver driving a reliable car, you can likely get away with a high-deductible plan. Make sure you have the money set aside to cover repairs and other issues, though, before you make this decision.
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