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How can I save money on my car insurance?
What is the easiest way to save money on my car insurance? I am not sure if I am eligible for any new discounts.
Shannon Martin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“There are two main ways to lower an insurance policy rate, by discounts or by minimizing any unneeded coverage.
However, you are correct, not everyone is eligible for discounts, so it’s not a guaranteed way to save money.
The biggest bang for your buck will be to increase your collision deductible or eliminate coverage altogether if you have it.
Collision coverage
can be the most expensive part of an insurance policy.Before you make any changes to this coverage, find out what your car’s
actual cash value
is first. If the vehicle is 10 years old or older and doesn’t have much value, removing the collision is your best bet.If your vehicle still has a loan or has maintained its value, leave collision on the policy. The higher the deductible, the lower the cost of the coverage so raising the deductible is an option. However, make sure that it is only as high as you can comfortably afford.
Here are some other coverages that are optional and can be removed:
Another way to save is to shop around! Sometimes your current car insurance company isn’t competitive anymore and shopping around ensures you find the
cheapest insurance
policy!If you want cheap car insurance quotes fast, go to
Jerry
. A licensed broker that offers end-to-end support, the free Jerry app gathers affordable quotes, helps you switch plans, and even helps cancel your old policy for you.”View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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