10 Ways To Save Money On Car Insurance – Reviewed | CarTailz

After spending a lot of money buying a new or used car or truck, you may be looking for ways to save money on insuring your car. Fortunately, there are many ways to save. Here are 10 ways to save money on Insurance Information Institute car insurance

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1. Have a good driving record

Keep a squeaky clean driving record and you’ll pay less for auto insurance than a driver with speeding, driving under the influence or accident tickets. It pays to be a good driver. For example, a speeding ticket that costs you a few hundred dollars for the ticket can increase your auto insurance by more than 20%, and that penalty would last three years.

2. Drive fewer miles

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A remote job can completely eliminate the commute to work and reduce your mileage.

If you work from home and only drive occasionally, be sure to tell your insurance company. As a low-mileage driver, you pay less for car insurance than someone who commutes long distances to and from work every weekday. Driving less than 7,500 miles per year is considered low mileage driving and will save you money on your car insurance.

3. Live in a small town

Vandalism, theft and car accidents are higher among city drivers than among drivers living in rural areas or small towns. Because of this, city drivers pay more for car insurance. If you live in a rural area or small town where there is less crime and fewer car accidents, you’ll save money on car insurance.

If you’re a city dweller, you can lower your car insurance by parking your car in a safe place like a garage or by adding anti-theft features to your vehicle.

4. Be 25 years or older

A teenager sits behind the wheel of a car and listens to his father's instructions as he drives.

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Adding your children to your insurance plan can save you money.

Young people and drivers under 25 pay more for insurance because they tend to have more accidents. Once you or a driver on your auto insurance is 25 or older, you pay less for your auto insurance premiums. So there is at least one benefit of getting older.

If you’re under 25, have good grades, and attend school full-time, you may be eligible for a discount on your car insurance. In most cases, you must be B-average or above to receive this discount.

Other options include getting a group car insurance plan through your employer or claiming a discount across multiple policies. Multi-policy discounts work this way. Let’s say you already have home insurance. Sign up for your auto insurance policy with the same insurance company as your renters insurance policy and you may receive a multi-policy discount on your insurance premium.

5. Be a woman

A smiling woman behind the wheel of a car.

Credit: Getty Images / Milan Markovic

Research shows that women tend to suffer fewer road accidents.

The ladies have this money-saving category covered. Female drivers often pay less for car insurance than males, and here’s why.

“Statistically, women tend to have fewer accidents, fewer accidents caused by drivers under the influence of drivers, and most importantly, fewer serious accidents than men,” says Worters. “So other things being equal, women often pay less for car insurance than their male colleagues.”

If you are a man married to a woman you should include the car insurance in your wife’s insurance as she pays a lower premium.

6. Drive a safe car

Choosing a car with a good safety record is not only sensible; It’s also a great way to save on car insurance. You could get discounts on your car insurance price by choosing a car with good safety equipment.

“Insurers look not only at how safe a particular vehicle is to drive and how well it protects the occupants, but also at how much potential damage it can do to another car,” said Loretta Worters, vice president of media relations at the Insurance Information Institute . “If a particular vehicle model has a higher risk of damage in a car accident, an insurer may charge more for liability coverage.”

The National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety conduct auto safety tests and ratings. Check your car’s safety rating. A good rating could mean a discount on your car insurance.

7. Shop around

Anonymous hands using a digital tablet to surf the web for better deals

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Always look and compare different prices and offers as these may vary by area.

Different insurance companies will charge you different insurance rates for the same car. So don’t just get an offer. Keep looking for a better deal.

“We recommend that people get at least three quotes from both different insurance companies and different types of insurance companies – that is, those selling through their own agents; those selling through independent agents; and those who sell directly to consumers over the phone, an app, or the web,” says Worters.

8. Get personal recommendations

Don’t forget to ask friends and family about the auto insurance companies they would recommend. You may find the insurance company you are looking for through a personal recommendation from someone you know and trust.

9. Stick with a trusted insurance provider

If you already have rental or home insurance, you may get a discount if you choose to insure your car with the same company. If you insure several vehicles with the same insurance company, you also get a discount. So consider the insurance company you already do business with when you want to insure a car.

10. Choose a higher deductible

Insurance claim form and assorted money

Credit: Getty Images / zimmytws

It may seem like a lot at first, but it will save you money in the long run, especially if you are a confident driver.

A deductible is the amount you must pay before an insurance company pays for a claim. For example, choosing a $1,000 deductible instead of a $500 deductible would help lower your auto insurance premium.

“The only caveat to this is that you need to be sure you have enough money set aside to pay the higher deductible in the event of a claim,” says Worters.

Put the higher deductible in a small emergency fund so the money is there when you need it.

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Prices were correct at the time this article was published, but may change over time.

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