5 Quick Ways To Save On Auto Insurance
If you are not happy with your auto insurance premium rates, there are lots of ways that you can save money on your auto insurance.
#1: Get Multiple Quotes
First, you need to make sure you get multiple quotes from various insurance companies. Each insurance company has its underwriting process to assess the risk of providing you with insurance. They use that information to determine what premium rate to charge you.
It is important to get various quotes because using the same information, different insurance companies can come up with different potential premiums based on their unique calculation of the risk of providing you with insurance.
That is why you should always get multiple quotes. You don't know if you are getting the best rate unless you shop around. You should compare rates at least once a year.
#2: Pay Semi-Annually
You can save money by paying semi-annually instead of making monthly payments. Most insurance companies will offer you a discount if you enroll in an auto payment program.
You can enjoy an even larger discount if you pay semi-annually. Your insurance company will provide you with a small reduction that reflects the fact that they have to pay fewer processing fees when you pay semi-annually, and the risk of non-payment is also reduced.
#3: Get Your Discounts
Next, you need to make sure you are getting all the discounts that you qualify for. For example, you may qualify for discounts if you are accident-free or are getting two insurance policies from the same company or enrolled in paperless billing.
Make sure that any discount you qualify for is being applied to your policy. You can also ask your insurance agent to check your policy and make sure you are getting the right discounts.
#4: Take Care of Your Credit
It is important to take care of your credit score. Insurance companies can take your credit score into account in many states when figuring out your insurance premium. If you have a poor credit score, you may notice an increase in your premium rate. Paying your bills and taking care of your credit score will help improve your premium rates.
#5: Put Your Policies Together
A classic way to reduce your insurance rates is just by combining your various insurance policies under one company. Generally, when you do this, the insurance company will give you a nice discount on each policy, allowing you to reduce your overall insurance bill. For example, you could combine your rental insurance policy with your car insurance policy. Or you could combine your motorcycle and auto insurance policy.
There are many ways that you can save money on your car insurance. Get quotes from multiple sources each year like at Illinois Insurance Center Inc, make sure all applicable discounts are applied to your policy, pay semi-annually, and take care of your credit score. This will allow you to save on your auto insurance premium now and in the future.
