With the cost of living rising more every year, people are looking for more ways to save money when they’re on the road. For many, this means finding out what they can do to lower the cost of their insurance policies.
Luckily, there are several things you can do to save money on car insurance. Read on to learn more!
Ask About Discounts for Insuring Multiple Cars
When you purchase a new Dodge, commercial truck, Jeep, Chrysler, or Ram for sale, consider whether you can bundle the policy for the new car with any other cars that people in your home drive.
Typically, it costs more for everybody in a household to carry their own insurance policies than it would if they were to bundle them together. Keep in mind that there are some stipulations regarding these kinds of discounts. Typically, the people who share the policy must be related by marriage or blood. If two unrelated people do share an insurance policy, they must own the vehicle together.
Shop Around for the Best Rates
The easiest way you can ensure you’re getting the best rate for your auto insurance is to shop around before you sign up for a policy. It’s always a good idea to check out at least three different companies.
Every company calculates its rates in a different way, and some are more forgiving of people with colorful driving backgrounds than others are. Request quotes from various companies and consider switching providers if you find a better rate.
Be a Safe Driver
People who get speeding tickets, get into collisions, or otherwise drive unsafely almost always pay more for insurance than safe drivers do. If you want to save the most on your car insurance, drive safely when you’re on the road. If you do get a ticket, see if your insurance provider will allow you to lower your rate again by attending traffic school to reduce the number of violations on your driving record.
Ideally, you’ll drive at the speed limit and work on your defensive driving skills to ensure that your rates stay low.
Pay a Higher Deductible
Every car insurance provider requires their clients to pay a deductible before it pays out on an insurance policy. This means that if you have a $500 deductible and are in a $3,000 accident, you’ll need to pay $500, and the insurance company will pay $2,500.
However, you can choose to pay a higher deductible, such as $1,000, which in turn will lower your monthly payments. Just make sure that you keep enough money in savings to pay the deductible should the need arise.
Look Into a Pay-By-the-Mile Program
You need at least a liability policy in nearly every state, but that doesn’t mean that you need to pay exorbitant fees. In fact, if you don’t drive very often, you can find a car insurance company that offers a pay-by-the-mile program. This way, you’re only paying for your insurance when you’re actually driving instead of paying to keep your driveway in the car.
Learn More About Safe Driving & Saving Money on Car Insurance
There are a number of ways that you can save on your insurance policy. Spend some time researching your options to find out how you can make the best savings to meet your needs.