Expenses continue to rise while wages remain the same. This makes it quite a challenge to pay bills, save for the future, and provide for your family. Because there is often not enough money to go around and more people than you realize are living paycheck to paycheck, many are always on the prowl for ways that they can save money off of their monthly expenses. Whether it be lowering heating and air conditioning bills, cutting out cable and only subscribing to Netflix, or eliminating incidentals all together, families are constantly looking for ways to save. This article will provide some tips on how you can save on your average monthly car insurance bill.
- Research a variety of companies. If you believe that your car insurance premium is higher than it needs to be, consider shopping around. By making a few phone calls or doing some research on rates online, you can either find a better deal or you will realize that the price you are paying is not so bad afterall. Regardless, it is good to check the rates every so often to make sure that you’re getting the best deal out there.
- Pay your premium in one payment. Doing so can help you avoid pesky installment fees or billing fees that insurance companies tack on to the total premium if you need to pay on a monthly basis. Many companies will charge at a minimum $5 or more to bill you on a monthly basis, even if you have autopay set up. By paying all at once, you can save $60 a year by eliminating the installment fee.
- Take a defensive driving course. You can take a defensive driving course for less than $50. This may seem expensive, but it will save you 15% on your car insurance which will most likely come out to be more than the fee you paid for the course. In addition, the defensive driving course certification lasts for 3 years and will likely teach you a thing or two about being a better driver.
- Avoid tickets and accidents. Many companies will reward their clients who have gone a period of time without accruing any tickets or having any accidents. The more often you can avoid filing a claim with your insurance company, the longer you can count on your premiums not going up.
- Sign up for autopay. Some companies will offer an autopay discount if you sign up for their program. This means that on a date that you select every month, your payment will automatically be deducted from a credit card or bank account of your choosing. This discount can add up to a few dollars a month which is significant when you consider the savings over a year’s time.
There are many ways to explore the idea of saving money on your car insurance policy. Take into consideration the tips we have highlighted in this article and determine what will work best for you. In no time, you will be saving money!
