6 Different Ways to Get a Discount on Your Car Insurance
Car insurance is a necessary expense, but it can be expensive, averaging at $1,771 annually, according to research by Bankrate.
While finding the best deal possible can help keep insurance costs low, shopping for and comparing insurance quotes can be time-consuming and overwhelming for most car owners. Fortunately, there are several things you can do to get a discount on your car insurance, and here are six of them.
1. Choose a Top-Rated and Large Insurance Company
With over 5000 auto insurers in the United States, finding the best fit for your needs and budget can be difficult. That’s why it’s essential to research what companies offer the coverage you need at the best rates.
While checking insurer ratings from independent agencies can help you spot a good deal, selecting a seasoned insurer like Progressive, a top-rated company in the US, can help you avoid possible frustrations.
The reason for choosing a top-rated company is simple – a larger company has more resources and can save on operational costs. As a result, it can pass those savings on to its customers through lower rates and better services.
2. Take a Defensive Driving Course
Some auto insurance companies have discounts for drivers who complete a defensive driving course. This course sharpens your driving skills, helping you become a better and safer driver. As a result, insurance companies view you as a lower risk and may reward you with a lower premium.
However, ensure you confirm with your insurance company beforehand that you’re eligible for this discount, as not all insurers offer it. If they do, they may require proof of course completion in the form of a certificate of completion from an approved instructor.
3. Consider Bundling Your Insurance Coverage
Most insurance companies reward loyal clients with discounts when they bundle multiple policies. Bundling your insurance means acquiring your coverage needs from the same insurer.
For example, if you insure your car and home with the same company, you may qualify for a discount. Bundled insurance may not only save you money but also simplify things for you, as you only have to deal with one provider for all your insurance needs.
4. Leverage Multi-Car Discounts
Auto insurance companies will likely charge higher premiums to insure a single vehicle. The good news is that you may qualify for a multi-car discount if you insure more than one vehicle with the same company.
Under this discount, you could receive a reduced rate for each additional car you insure. However, a multi-car discount applies to multiple drivers related by blood, marriage, or adoption and living at the same residence.
5. Buy a Car with Several Safety Features
You can sometimes get a price break if you purchase a car with various safety features like anti-lock brakes, electronic stability control, or airbags. Many of these features reduce the risk of accidents, making drivers safer behind the wheel.
Consequently, insurance companies give drivers with these vehicles a premium break. But, of course, the type of car you buy significantly impacts how much you’ll pay in premiums overall. So, ensure you consider your budget when choosing one.
6. Downsize Your Car
Buying a bigger, classic car can be exciting. However, vehicles with larger engines, more seats, and higher price tags typically cost more to insure than smaller models. That’s because these cars are costlier to repair when damaged in accidents.
Therefore, if you own a luxurious car that’s expensive to insure, you might consider downsizing it. Some insurers offer better discounts for compact or midsize cars because they cost less to fix in the event of an accident.