Since most of us are required to carry automotive insurance - whether it be basic liability or more - the quest to save money is a common topic.
Most of us want the best rates WITHOUT sacrificing service, quality, or the knowledge that our company won't go back on their promises or cheat us out of what we deserve.
The problem is, many of us don't get all of the above. If we go with cheaper, "discount insurance agency" type places, we often sacrifice service - not to mention the trust that many of us put in brand names.
If, on the other hand, we go with well-established, trustworthy agencies, we often end up paying a lot more - several hundred dollars a year in some cases.
So, we give up, thinking that there's really no way to have it all.
Good news: there is! We have plenty of ways to save a little money without giving up quality. Here are just a few ideas.
-Slow down. The more speeding tickets you receive, the higher your premiums. If possible, take a defensive driving course; this often helps with the insurance rates, and can even lower the cost of your fines.
-Comparison shop. Many insurance companies proudly advertise that they'll give you quotes from a few - or even many! - competitors. This is a great place to start, but be sure to investigate on your own as well. This ensures that you get the most accurate, up-to-date information.
-If you're shopping for a new car, check rates before you make your final decision. Depending on the make and model, you could save some precious bucks. For example: a sports car is obviously going to cost more in insurance than the family sedan - but what about minivans versus SUVs? It's worth looking into, especially if you're torn between two or three types of vehicles.
-Ask about discounts for safe drivers and long-term customers. Many companies offer incentives for your safety and loyalty; ask around to see which agency offers the best deals.
-Consider a package deal for all of your insurance needs. Many agencies insure home, health, life, and automobile; you might be able to get a good deal if you sign up for two or more with the same company. If nothing else, you'll have one less check to write (or online bill payment to make).
-Buy long-term insurance. It's usually cheaper to get six months or a year versus one month. However, be sure that you only do this with companies that have been established for a while, and who are trustworthy. Check with the Better Business Bureau before you give ANY company your cash - especially if you're about to make a long-term commitment to them.
-Get married. It's cheaper to insure a married couple than to have separate insurance on those two drivers. (If you aren't madly in love and absolutely sure this is going to work out for the rest of your lives, you should probably put the wedding idea aside for now and just pay the extra money every month.)
-Turn down extra coverage that you really don't need. If you have a factory stereo system in your truck, do you really need to pay five, ten, or twenty dollars per month for theft coverage? Nope - you can probably replace the stereo for less, and your structural coverage section of the policy probably covers any damage thieves might do in the process of swiping your stuff. (Be sure to check on this before you sign up or decline, though.)
-Pay off your vehicle as soon as possible. Financing a car or truck usually means a lot of extra insurance. Paying it off quickly will A) save you money on interest, and B) give you the opportunity to drop some of the extras that you don't really need.
-Pay attention to where you park. Many people would prefer to get a really good spot just a few feet from the front doors, but if you aren't adverse to walking, you could get a safer place. Grocery carts, distracted drivers, and opening car doors can damage the vehicle - but if you're parked farther from the entrance, you increase the odds of keeping these things away from your ride.
However: if it's late at night or if you're in a high-crime area, don't park too far out in the asphalt desert. Your safety is more important than auto insurance premiums any day, right?
-Conduct regular safety inspections from front to rear. For example: allowing worn, balding tires to go unchanged can lead to a blowout, which could cause an accident, which will make your life miserable. It's cheaper to just buy the new tires - or have the vehicle re-aligned if that's what it'll take.
Remember: it's up to you to get the best deal and to stay as safe as possible. Spending a few minutes browsing the Internet for quotes and offers, you can save a lot of money in the long term.
