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Save Your Money Mondays: Cutting Costs On Your Car Insurance

By: CICELY MITCHELL
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(credit: Getty Images)

(credit: Getty Images)

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  autos arrows plug v2 Save Your Money Mondays: Cutting Costs On Your Car Insurance
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With this new year, comes the desire to cut costs anywhere we can. Did you know that with a few simple tips you can save money on your car insurance? Check out these ways you can save money on that all important car insurance bill.

1. Get a Variety of Quotes
When it comes to auto insurance, shop around for the best quote like you would shop around for that perfect dress. Find out what your needs are and jot down figures customer service representatives give you you. Do you need coverage that can help you during times of distress while on the road? Do you have children that need auto insurance? Do you live in a city in which lots of accidents happen? What kind of driver are you? Questions such as these are important to ask yourself as you shop around for a quote. Take the time to investigate several car insurance companies that claim that they can meet your needs. Put those companies to the test and let them give you a great quote!

2. Redeem Those Discounts!
When it comes to car insurance savings, it’s about getting the best rate even if it means getting a bit of help from a coupon or a discounted offer. Also take into consideration your status as a driver. Are you a safe driver? Have you been accident-free for a considerable amount of time? Are you a senior citizen but are able to drive well on the roads? Ask companies about their discounts for great driving records, college students and long time customers. You are entitled to discounts and sometimes all you have to do is ask for them!

3. Maintain a Good Driving Record
I know it can be difficult, but try to maintain an accident-free record with your insurance company. When precipitation hits, keep several car lengths behind the driver and pack patience in that car trip. Be a cautious and defensive driver, always looking out for the other driver. Car insurance companies often reward good driving habits with reductions in rates or lower initial rates.

4. Drop Unnecessary Coverage
When it comes to auto insurance, consider firming up what you use. Some types of coverage could be considered optional. You may not need layers of coverage since your child is no longer on your insurance or you are now living alone. So visit or call your state’s Department of Insurance or your insurance company to learn which insurance elements are required for your policy and just insure your car for the essential coverage you need.

5. Raise your Deductible
One of the easiest ways to see immediate savings could be changing your deductible, or the amount you agree to pay in the event of an accident before your insurer will contribute any money. If you increase your deductible from $200 to $500, you could potentially reduce your collision and comprehensive coverage cost by 15 to 30 percent.

6. Show Off That Title! Recently, I made the last payment on my SUV! I asked my lien holder if I could have my title expedited to me and she joyously told me “yes”! So I now have the title to my car and boy do I feel free! Did you know that having the title to your car can potentially reduce your car insurance? Think about it. No one owes your car but you. Your car cannot be repossessed by a bank or anyone else! Insurance companies look favorably on that and could knock off some dollars on your car insurance bill!

Do you have additional ways you cut costs on your car insurance bill? Share them with us and watch related video below!

http://youtu.be/DVegFQ54OSg

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