Saving Money Tips: Auto Insurance
Car insurance can get expensive. My own car insurance is one of my biggest expenses. I decided to do some research and find out how I can save money on auto insurance. Here is what I’ve found out:
Watch Your Credit Score
Insurance companies check your credit score when they give you a quote. Insurance companies feel that people with bad credit are a higher risk. If you have good credit, you can get cheap insurance.
Get Several Car Insurance Quotes
Shop around. Different companies will offer different rates and deals. Be sure to only check one or two companies at a time. If several companies check your credit score at the same time, your credit will suffer. Shopping around will get you cheap car insurance.
Check for Discounts
When you are getting car insurance quotes, ask about all discounts the company may offer. Many companies will offer you discounts for having low millage, owning a cheaper car, or belonging to certain organizations.
Raise Your Deductible
Your deductible is the out of pocket expense you pay if you are in an accident. Raise your deductible as much as you can possibly afford.
Combine Your Policies
Combine your home insurance, renters insurance, and any other policies you may have with the same company for a discount. Many companies will combine your car insurance and home insurance on the same bill.
I plan to use all of these money saving tips when I renew my auto insurance. Do you have any other tips for saving money on car insurance?