April 8th, 2014
Car payments are not the only automobile expense you have to worry about. Gasoline, repairs and even the change you have to pay to fill up your tires can all start to add up. Another expense is car insurance. This is important to have because it can help you recoup your losses if you were in an accident or if you were injured in the process. This can be a major life saver, but could start to drain your checking account. There are plenty of ways to cut down on the cost of auto insurance without sacrificing your coverage including these ways:
Amount of driving
By car pooling with coworkers or friends a few times a week you will be able to save on gas, help save the planet and cut down your insurance payments. Driving less means that you will be reducing the amount of miles on your speedometer, which is one way insurance companies gauge your driving. The more miles you drive, the more your payments will be. The amount you save will depend on your insurance provider, but chances are you can stand to save a good chunk of change.
If your car comes equipped with safety features or you have installed some by yourself, you may be able to cut your plan down by a few bucks. By seeing that your ride has anti-lock breaks, an alarm system or automatic seatbelts, an insurance company will notice that you are driving a safe vehicle.
Multiple insurance plans
If this is your first go around of buying car insurance, check to see if your other insurance providers have car insurance options. By getting this type of plan with the company that issued you renters insurance or homeowners insurance, you will be able to stack discounts and put a little extra cash in your accounts. Insurance companies also will benefit from this because by combining car insurance with a lower risk plans like homeowners insurance, it will be able to lower its own risk.
General discounts It also never hurts to ask providers if they offer any discounts. You may find that an insurance company will drop the payments by a few bucks if you are a college student or are retired. Every company is different, so make sure you politely ask whether you qualify for everything.