10 Ways to Lower Your Auto Insurance Rate

The RateQuote Team

Think you’re stuck with your current auto insurance rate? Think again. There’s a good chance you’re overpaying for your policy, and it may just take a few minutes to shave some numbers off your premium. Whether you plan to reroute those savings into an extra cold brew every week or a new car, you can pat yourself on the back for being smart enough to get your best possible insurance rate. Here’s where to start.

  1. Drop any unnecessary coverage. You may think that the more coverage you have, the better, but that’s not always the case. Coverage needs can vary greatly based on the type of car you drive and where you live, just to name a few factors. Options like Collision, Comprehensive, and Personal Injury Protection are often just that — optional — so make sure you actually need them to be included in your policy.
  2. Increase your deductibles. The higher your deductible, the lower your premium. Choose a number you’re comfortable with paying out of pocket.
  3. Take a defensive driving class. Many insurance companies offer discounts or premium credits for drivers who have made the effort to improve their driving skills by taking a class.
  4. Pay your premium annually and on-time. You can avoid late fees and “convenience” fees by paying your auto insurance premium once a year instead of biannually or more frequently.
  5. Choose your car wisely. If you’re in the market for a new car, consider an older model with high safety ratings and safety features like antilock brakes and airbags.
  6. Ask about low mileage discounts. If you don’t drive very often or very far (usually less than 7,500 miles a year), you may be eligible to save on your policy.
  7. Keep your insurance company up to date on life changes.If you move, get married, buy a new car, add or remove a driver, or your credit score improves, you may be eligible for a rate decrease. Keep in touch with your insurance provider, and don’t be afraid to ask for discounts.
  8. Bundle your policies. Some companies may cut you a special deal if you buy two or more policies through them, such as homeowners and auto.
  9. Cash in on group discounts. From employers and professional organizations to alumni groups, many groups offer insurance discounts for their members.
  10. Shop around. Sometimes it pays just to see what your other options are by shopping around. Most experts recommend comparing auto insurance quotes from at least three companies every year. Start here.

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