Are you searching for innovative ways to save on auto insurance without giving up the coverage you need? You’re in the right place! We’ve gathered a list of lesser-known strategies and insider tips to help you find the best deals on your insurance. So, let’s dive in and start saving together!
Tap into Hidden Discounts
Most people know about standard discounts, but many other lesser-known discounts can make a real difference in your premiums:
- Defensive Driving Courses: Finish an approved course, and you could qualify for a discount.
- Low Mileage: Drive less, save more! You might be eligible for a low-mileage discount.
- Good Student: Hard work pays off—students with good grades can benefit from lower premiums.
Reassess Your Coverage
Take a close look at your coverage to ensure you’re not overinsured or paying for options you don’t need. For example, if you’re driving an older vehicle, it might be time to reevaluate whether comprehensive and collision coverage still makes sense.
Tweak Your Deductibles
Bumping up your deductibles can lower your premiums. Choose a deductible you can comfortably afford if you ever need to make a claim.
Bundling multiple policies (like auto, home, and life) with the same company can lead to sweet discounts. However, sometimes it’s wiser to keep policies separate. Compare both options to find the best fit for your unique situation.
Keep Your Credit Score Healthy
Good credit can lead to lower insurance rates, as insurers see folks with good credit as lower-risk customers. So, pay your bills on time and monitor your credit report to maintain a strong credit history.
Pick the Right Ride
The type of vehicle you drive can impact your insurance premiums. Before buying a new car, research insurance costs and choose a model that’s easier on your wallet.
Explore Group Discounts
Some insurers offer discounts to members of professional associations, alumni groups, or other organizations. Check with your insurer to see if you’re eligible for group discounts.
Goldilocks Your Shopping Cycle
Finding the perfect balance between loyalty discounts and shopping around is key. Our rule of thumb is to shop insurance companies every three years. That’s usually when loyalty discounts are maxed out, and seeing what else is out there might be worth it. If you can’t find a better deal, you can always stick with your current insurer.
Prioritize the Big Risks First
When allocating your insurance budget, focus on covering the more significant financial risks before spending on more minor perks. Many people have insufficient coverage for more significant risks, such as low liability limits, but still pay for extras like towing, rental reimbursement, or low deductibles. To make the most of your insurance dollars, first, ensure you have adequate protection against the biggest risks that could cause significant financial strain.
For instance, consider increasing your auto liability limits while removing ‘full coverage’ from an older car. Once you have secured sufficient coverage for the more substantial risks, you can decide if you want to spend additional money on smaller or less risky coverage options. By prioritizing your insurance needs this way, you can protect yourself from potentially devastating losses while still enjoying the benefits of supplementary coverage when it fits within your budget.
Peek at Insurance Rates Before Buying a Vehicle
Before purchasing a new car, call your insurance provider to get an estimate of the cost to insure it. This will help you avoid surprises and ensure you can comfortably afford the insurance premiums for your new ride.
Put these expert strategies to work and save big on auto insurance without compromising the coverage you need. Don’t go it alone – let the friendly and knowledgeable insurance experts at Page Insurance guide you through the process and help you find the best deals available. Reach out to us today and start enjoying the savings!