If you want to know how to get cheapest car insurance, then follow these 12 steps to lower you payments.
Shop Around
Comparing quotes from multiple companies is the first step toward getting cheap car insurance. Be sure to ask each insurer about how to adjust your level of coverage to fit your current needs.
Increase Your Deductible
Premiums are determined in part by the deductible you choose, which is the amount that you agree to pay if you need to file a claim. Opting for a higher deductible is one way that you can lower your insurance costs.
Ask for Discounts
Nearly every insurance provider has discounts available for its customers. These can include lower rates for customer loyalty, maintaining a clean driving record and good students.
Look for Local Insurers
It’s possible that a large insurer might not be the best or cheapest match for your coverage needs. Check with smaller insurers or with a local agent to see if you can find a lower rate.
Switch to Pay-Per-Mile Insurance
This type of coverage replaces your traditional car insurance policy, and the main difference is that you pay for auto insurance by the mile. If you put only a few miles on your car every year, the savings can be worth making the switch.
Bundle Your Insurance
Most companies offer car insurance discounts if you buy two or more policies. This could include purchasing a renters or homeowners policy with the same company. Some insurers also offer multi-car discounts for those who insure multiple vehicles together.
Improve Your Driving Record
Insurance companies reward safe drivers with clean records by giving them lower rates. This is because good drivers are less likely to file a claim.
Review Coverage Annually
Take a look at your policy when it’s time to renew. Adjust your coverage, such as your deductible or the number of miles that you drive, to fit your current needs.
Improve Credit Rating
In most states, drivers with poor credit scores are penalized with higher insurance rates. Maintain a good credit score, or take steps to improve your credit, and you’ll likely secure a better rate.
Pay Premiums Annually
Most insurance companies will allow you to pay for coverage monthly, semi-annually, or annually. However, paying your premiums annually will almost always save you money.
Understand State Requirements
Nearly every state has auto insurance requirements that determine the minimum amount of coverage a driver must carry. Factoring in your state auto insurance requirements, alongside your personal assets and finances, can help you decide how much coverage you need or if you’ve purchased too much coverage.
Decrease Your Limits
Limits refer to the amount of money your insurer will pay after a claim. Higher limits can decrease your out-of-pocket expenses after a claim. They can also drive up your annual premium. Review your personal finances and determine if lowering your limits is worth the lower rates.
As you can see, there are several ways how to get cheapest car insurance. You may want to learn more about the different types of car insurance coverage, so you make sure to buy only what you need.
