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5 Ways to get the Cheapest Car Insurance Possible

VW Bug driving down road

Regardless of where you live in the United States, if you have a car, you must have car insurance. It not only protects you, but it also protects all the other people on the road. Even so, it can be expensive, but with these tips, you’ll learn how to the cheapest car insurance possible.

How to Get the Cheapest Car Insurance Possible

What’s great about lowering your car insurance payments is that there are things you can do right now, today, to do so.

It’s not like you have to wait months to see a return.

You can keep more money in your pocket and give less of it away to a giant insurance company with these simple tips.

1.Pick a higher deductible – I know. No one wants to have to fork over a bunch of money out of their pocket if they are in an accident or tree falls on their car, but the truth is, a higher deductible will save you a great deal of money.

If you raise your deductible from $120 to $1,000 you will save up to 40 percent on your monthly car insurance bills. You can pretty quickly set the difference aside in a savings account, so you’ll have it available if the worst does happen.

van going down the road

If not, you’ll have some extra savings and still save money every month.

Just think, if you’re spending $100 a month on car insurance, by raising your deductible, you can save up to $40 per month.

That’s $480 a year. Not bad for doing nothing.

BONUS TIP: Check out Metromile Insurance Services. They have a unique take on car insurance. Instead of the usual flat rate high insurance rate, they base your premium on how many miles you drive.

That means if you don’t drive very much you can save $1,000’s in car insurance, and heck why pay through the nose for something you don’t use very much of!

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2. Pay your bill in full – If you’ve got the cash, it makes a lot more sense to pay your premium in full. When you make monthly payments, your insurance company adds an additional charge.

This charge can range anywhere from a dollar to ten dollars per month. It may not be a huge amount of money, but over the years, it does add up.

3. Do what you can to keep your credit score high – This is one tip that will help you get the cheapest car insurance possible that kind of bugs me.

I find it kind of offensive that car insurance companies assume you are a bad driver if your credit score is less than perfect, but they do.

Almost all insurance companies use your credit score to determine if they will provide you insurance and if so how much they will charge. This is a much bigger deal than you may realize.

If you have a poor credit score, you can expect to pay as much as 50 percent more in premiums.

So, if your credit score could be improved, make doing so a priority, and you’ll watch your premiums fall in time.

4. Shop around – You may think that car insurance is car insurance, but you’d be wrong. It can really pay off to shop around.

Case in point, I was looking for new car insurance and I was offered rates from as low as $350 for six months to as high as $700 for six months. Yikes!

Not to mention it was for the exact same coverage. So, it is worth taking a few minutes to check out a quote just to make sure you aren’t paying more than you should.

5. Take advantage of discounts – You might be surprised just how many discounts your insurance company offers. You can get them for where you work, your driving record, and even your age.

Be sure to ask your agent what discounts they offer.

These discounts can make a big difference in your premium. If you don’t feel the discounts offered by your current insurance company are what they should be, then call around and ask other companies what they offer.

You might be surprised.

Car insurance is a necessity, but it doesn’t have to be crazy expensive. Take half an hour today and get the cheapest car insurance you can by following these four tips.

 

 

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