If you’ve had major changes in your life over the last year, such as a recent move, or bought a new home, changed jobs, you probably qualify for new discounts.
2. Shop around before you buy
Insurance rates can vary significantly from one company to another. To avoid overpaying, compare quotes from multiple insurance companies.
3. Combine policies
Bundling your auto insurance policy with a renters or homeowners policy can save you up to 15%.
4. Drop coverages
If your car is paid off and 10 years or older, consider dropping comprehensive and/or collision coverage. If the value of your car has depreciated enough, you may be better off carrying liability-only.
5. Increase your deductible
Another quick way to cut your insurance rates is to increase your deductible from the standard $500 to $1,000.
6. Check your odometer
If you are overestimating your drive miles, make appropriate adjustments and you may see the savings on your bill. You can also set up a carpool to save gas and mileage.
7. Make a commitment
If you’ve found a great policy, opt for a 12-month premium option if offered. This could save you money, but remember this advice comes from an insurance comparison company, so make certain the policy is right for you.
Article written by Taylor Kakacek, information taken from consolidatedcredit.org.