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Car insurance isn’t just important, it’s mandatory. Unless you live in Virginia or New Hampshire, car insurance is required by law for all drivers. And even if you do live in those states, it’s not a smart decision to drive without insurance.
But like all things you have to spend money on, you probably want to save when purchasing car insurance. Car insurance isn’t the cheapest thing in the world, but it shouldn’t break the bank, either. Still, a lot of people pay far more money than they need to for coverage.
Don’t worry, though: It’s easy to save money on car insurance rates. Here are eight easy ways to do it.
1. Have a car that’s affordable to insure
Perhaps the best thing you can do to save money on car insurance is to drive a car that’s affordable to insure. In general, cheaper cars tend to be cheaper to insure, since the insurance company won’t owe as much money in the event that it’s totaled.
However, there are other elements of a car that make it cheap to insure. The more safe and reliable a car is, the better. If you’re looking at a few different cars to buy, research which one would be cheapest to insure.
2. Be a good driver
You should strive to be a good driver for more than just the financial incentives, but the incentives certainly are nice. If you’re a driver with a minimal history of accidents and tickets, you’ll get better rates on your car insurance.
It’s never too late to start driving well. Even if you’ve had some trouble in the past, driving carefully now will begin to lower your rates. Many companies will also give you a discounted rate if you take a driving course.
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3. Increase the deductible
The higher your deductible, the lower your car insurance rates. This is, of course, a little bit of a risk. You’ll save money on your car insurance, but you’ll lose money if you’re in an accident and need to use your insurance.
Still, if you’re looking for a quick and easy way to save money on your car insurance rates, a higher deductible is a great place to start.
4. Shop around
When purchasing car insurance you should always shop around. Compare quotes from different insurance companies until you find the coverage and price that is right for you and your car.
5. Add a person to your plan
Usually having two drivers on your car insurance plan will lower the rate. This is especially true if the person you’re adding has a very clean driving record. Your rates might rise if you add a teenager or someone who has been in a lot of accidents. But if you add someone older, who has a good driving record, it will make your rates go down.
6. Improve your credit
This one is easier said than done, but worth pointing out anyway. The better your credit score, the better your car insurance rates. Work on increasing your credit score, and the good insurance rates will follow.
7. Look for rebates
Most car insurance companies offer lots of rebates. Each one is an opportunity to save money. There are rebates for being a student, rebates for driving a certain number of miles each year, rebates for being in the military, and dozens of other things. Search for any rebates that apply to you so that you can lower your rates.
8. Ask an agent
It’s easy to miss ways to lower your rates, even if they’re right in front of you. So when you’re purchasing car insurance, ask the agent if there are any other things you can do to reduce your rates, either now or in the future. They know the ins and outs of the coverage, and can help you get the best price.
Buying car insurance doesn’t need to be a hassle, and it doesn’t need to leave your wallet hurting. With these tips, you should be able to get the right insurance for you, at the right price. (And once you’ve mastered the basics, try these secret auto insurance tips for saving even more.)