How to Save Money on Car Insurance

Everyone is searching around for ways to save more money. Statistics show that drivers pick a car insurance company and remain loyal to them for years. However, remaining loyal doesn’t mean that the car insurance policy will become more affordable over time.

When people become more passionate about trimming monthly expenses, they may start by looking into cheap auto insurance quotes from competing companies. This is certainly a great first step in saving money on car insurance. A more affordable policy is certainly a step in the right direction. Even drivers who are deemed high risk auto insurance policy holders will find that there are dozens of companies out there willing to cater to their needs and offer them a more affordable policy than they already have.

Whether a customer is willing to switch insurance companies to save money or not, there are additional ways to save on car insurance. Each car insurance company offers multiple discounts. Most agents will go ahead and add a few of these discounts to your premium automatically, but it is always a good idea to ask what discounts the company offers so you can be certain you are getting all the discounts you qualify for. Here is a list of possible discounts an auto insurance company would offer and how to quality for the discount.

Combined Coverage – Combining together your different auto insurance policies is the best way to save money on your coverage. Not only is there a multiple car discount for insurance more than one car with the same company, but car insurance companies want their customers to purchase more than one type of policy. So, if a driver also needs home insurance, life insurance, liability insurance or even renter’s insurance, they can expect to receive a decent discount on their car insurance policy.

Renewal – Any decent car insurance company is going to want to offer incentives to customers who have a history of clean driving and continue to stay on as loyal clients. If a driver is not already receiving a renewal discount, they should contact their insurance agent and ask about one right away. The insurance company should be smart enough to realize that they don’t want to lose a loyal, responsible policy holder and give you a discount for it.

Clean Driving Record – Drivers pay insurance each month to cover the damages incurred in a potential accident at some point in the future. This means that drivers who rarely, or even never, get into an accident or receive a traffic violation are big money makers for a car insurance company. This directly translates back to the customers as a discount for being a great driver.

Safety Features – Most insurance companies will offer a discount to drivers that have certain safety features installed in their vehicles. These safety features actually save the company money in the long run so they can afford to give you a discount for using them. Antilock brakes, airbags and even car theft deterrent equipment tend to quality for a discount so be sure to speak up and ask your agent if your safety equipment counts.

Low Risk Jobs – Depending on your occupation, you might be eligible for a discount. Statistics have shown that certain fields of work, like engineering, tend to employ drivers who have fewer accidents. If you work in public service, for the government, or as a teacher – there might be a discount for that too.

Assume Additional Risk – Since drivers tend to go for the best possible auto quotes, that means they are probably only getting the minimum coverage required by local insurance laws. Car insurance companies want their customers to assume more risk by purchasing additional coverage. Not only does this bring in more income for the company, but it also means that customers are better prepared to cover any potential damages. Therefore, many companies offer a discount to customers willing to pay for more coverage.

There are dozens of other discounts available. The best way to save money on insurance is to 1) find out exactly how much car insurance you are going to need, 2) shop around for the best price, and 3) go into detail over the discounts to get each and every one you actually qualify for.

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