Whether you’re insured with Allstate, State Farm, GEICO, or any other company, there’s a good chance you think you’re paying too much for auto insurance. And you’re probably right. Here are some ways you can go about lowering your car insurance premiums:
• Consolidate
Most auto insurance companies entice drivers by providing discounted insurance if you insure multiple vehicles with them. Multi-car discounts can carve a decent slice out of your insurance bill. If your household has more than one vehicle, insure them all through the same agent or company.
If your auto insurance company provides other types of insurance, there’s a good chance they’ll give you even more discounts if you buy non-auto insurance through them. Some other types of insurance that you may be able to receive a multi-line discount for include homeowner’s insurance, renter’s insurance, and single-item insurance (such as an engagement ring or a valuable heirloom). Check with your agent to see how you can consolidate your insurance needs while saving money.
• Apply for a safe driver discount
Depending on your insurance company, you may be eligible for a safe driver discount. Many companies offer these discounts to drivers who have not had accidents or tickets recently, or who meet other criteria. You may have to take a short driver safety course, or watch a video and answer questions, but the discount you receive will be well worth your time.
Here are some safe driver programs that can reduce your auto insurance bill:
– State Farm’s Steer Clear Safe Driver Discount Program
– Progressive’s Snapshot Discount
– GEICO’s Five-year Accident-free Good Driver Discount
– Farmers Insurance Hawaii’s DriveSafe Discount
• Reduce your coverage level
The amount you pay for auto insurance is calculated based on many different factors. You can reduce your bill by lowering the amount of collision, liability, or comprehensive insurance you carry on your vehicle. Talk to your agent to find out exactly how much you could save by adjusting these amounts, and see if it may be worth it to carry less coverage. If you have two cars and you only drive one of them occasionally, you may not need the full level of coverage you’re currently paying for.
• Apply for other discounts
Individual insurance companies offer many different discounts, some of which you may already qualify for without even knowing it. These discounts can be earned for anything from driving a vehicle with anti-lock brakes, to having a theft prevention device installed in your car, to having a teen driver who has completed a driver’s education course. Check your insurance company’s website or talk to your agent to find out what discounts you may be eligible for.