How to lower my car insurance premiums?

I just received a renewal notice in the mail and my car insurance has gone up by nearly $300! I didn’t get in an accident, and I didn’t receive a ticket—so I’m at a loss. What should I do to lower my car insurance premiums?

Answer
Car insurance premiums change frequently—and sometimes without good reason! Rather than accepting the rate increase, contact your provider and ask for discounts, lower your coverage amount, or shop around for a better provider.
Car insurance companies offer more discounts than you may expect—and they come with relatively high savings! While these discounts vary from insurer to insurer, here are some of the most common and substantial discounts:
  • Multi-car discount
  • Bundling home and auto insurance
  • Safe driver discounts
  • Alumni and other organizational discounts
  • Defensive driving discounts
  • Telematics discounts
Your car insurer may have even more discounts, so ask your agent or look online.
If you’d like to save even more, you can always reduce your coverage. While each state has a minimum insurance requirement, you can always drop any coverage above the minimum.
You could also raise your deductible to lower your monthly payments. While that means you’ll need to pay more out-of-pocket in the case of an accident, it could lower your monthly premium substantially.
But the best way to find a better rate is to shop around for a new provider with Jerry. A licensed broker, the Jerry app can help you compare personalized quotes from over 50 top insurers like Allstate and Nationwide in minutes. Jerry can even send you new quotes when your insurance comes up for renewal, so you know you’re always getting the best rate.
Eric Schad
Answered on Nov 17, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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