Save Your Money - Car Insurance Secrets Revealed!

Let's face it. With the rising cost of living, we're all trying to save a buck. Whether we shop at discount stores, eat out less or simply don't spend as much, there are tons of ways that we can save money. In this article, we will talk about how you can save money on car insurance. No, this is not an article about Geico or any insurance company for that matter. It is an article that specifically addresses ways that you can save money with any company. So, without further adieu, let's discuss several ways that you can save money on your car insurance.

  • Research to find the best insurance company. First and foremost, you have to be willing to research to find the best deals. The best deals aren't out there saying, "hey choose me." Instead, you have to be willing to shop around for the best deal. This means getting on the phone and calling companies that you're interested in doing business with or conducting price comparisons online. Either way, you have to be willing to put in the necessary effort to receive the golden egg.
  • Buy the right car. Buying the right car can save you a ton of money on your car insurance. This is because some cars (ex. sport cars and luxury cars)are stolen more than others and insurance companies have to charge more money for insurance to cover them. Therefore, if you purchase insurance for a lower profile car you won't be charged more.
  • Increase your deductible. If you're like most folks, you have a really low deductible on your car insurance policy. Although this is good for the insurance policy, it is bad for you because that deductible although costing you less upfront, it is costing you big money in the long haul. Therefore, you can save yourself a ton of money if you simply raise that deductible and your premium will be increased. Before you do however, make sure that you can actually afford to pay the new deductible.
  • Protect your car. Another way to save money is to install anti-theft devices and to keep your car in a garage. According to John Bailey, a retired insurance salesman, "Insurance companies truly respect and admire customers who protect their cars from thieves and environmental elements. To show their appreciation, insurance companies reward valuable customers with lower rates and tend to honor their legitimate claims." Therefore, make sure that you inform your insurance company of any alarm systems or fact that you'll be keeping your car inside your garage.
  • Drive safely and carefully. This may sound like a no-brainer but many people don't realize that driving safely is very important. Not only for your general health and well being but for your pocket book. Simply put, insurance companies love safe drivers and reward them with the best rates. They also penalize those that file excessive claims. Therefore do your best to avoid accident claims at all costs.
  • Don't drive too much. Another way to lower your premiums is to simply not drive your car much. For instance, if you only drive recreationally and not to and from work, you may be entitled to a certain reduction in insurance premiums.
  • Request applicable discounts. Just like there are safe driver discounts, there are also AAA, student discounts, anti-theft device discounts, multi family, and multi policy discounts, etc. You simply have to be willing to request discounts. To do so, contact your insurance company and ask them if you're entitled.
  • Negotiate to get best deal. Another way to get your insurance reduced is to negotiate. If you have written quotes from another insurance company then take it to your existing insurer and see if they would be wiling to match it. Many times they are willing to "make a deal" in order to avoid you going elsewhere for your insurance needs.
  • Consider moving. Insurance companies base their rates on level of crime in your neighborhood. Therefore it is likely that you may be charged less money if you live in what is considered a "safer neighborhood" than one that is not.
  • Consider changing jobs. Insurance companies consider certain professions riskier than others. For example, taxi drivers pay more insurance than other professionals and so do pizza delivery personnel. One way to save money is to not work in a field insurance companies consider risky.

In conclusion, you can save money on your car insurance. You just have to be diligent in finding best insurance company, buy the right car, increase your deductible, protect your car, drive safely, don't drive too much, request applicable discounts, negotiate to get best deal, and consider moving and changing jobs. If you do this, you'll not only receive the best deal on your car insurance but you'll have peace of mind in knowing that you did what was best for you and your family.

Additional Reading:

5 Tips For Saving Money On Your Car Insurance

Car Insurance Traps 101

Save Your Moola - Car Insurance Secrets Revealed.

Motor Vehicle Insurance Questions and Answers




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