A recent article in Money Magazine had some tips for lowering your car insurance bill, and although most of us know the basic ways, they had a few extra ways to look for further discounts that I thought you might find handy. Besides signing up for higher deductibles (like going up from $500 to $1000, which is what we have) which could save you 40% on your premium bill, here are a few other ways they came up with to save some more cash:
Be sure to look for any and all discounts you can get. Most insurance companies offer discounts for safe drivers, multiple vehicles, anti-lock brakes, etc., but did you know there was a checklist of discounts you could probably apply for? Well there is, and you can find it at iii.org/individuals/auto. Look for the ones you could possibly get and then ask your insurance company if they give that particular discount.
Always keep looking at competing companies for different quotes. While I love my current insurance company (Wawanesa), it is always good to get quotes once in a while from competing insurance companies. Head on over to naic.org to find your state’s insurance commissioner and download a car insurance buying guide from them. You can then review different “life scenarios” closest to your situation and see what different companies would charge for insurance. The range of prices for our new state of New Mexico was amazing! They also say that you could check insweb.com and iiaba.net for more quotes if your state does not have a comprehensive list available.
With the price of everything rising steadily these days, we all have to look for new ways to save a little cash where we can. Auto insurance is one of those things with prices heading downward and becoming a buyers market, so be sure you are only paying what you have to pay!