There are many people who are overspending on their auto insurance. They may have found a good deal years ago and then just never revisited their policy. Because of that, they might be wasting hundreds of dollars each year in paying too much. Here are some ways that you can save money on your auto insurance.
1. Good Driver Discounts
You need to ask about good driver discounts if you are not already receiving them. These discounts are for people who haven't gotten any traffic citations in the last 5 years or so, haven't been in any accidents and have a good report. If you know that your record is clean, but you don't see any kind of discount on your insurance, make sure you reach out to your provider and ask what kinds of discounts they offer.
2. Good Student Discounts
If you have a high school or college student on your insurance you need to make sure that you are accessing the good student discount if it applies. The good student discount is given to people who get above a certain GPA you can fax, email, or mail in your child's report card and you could get a discount. Additionally, if you are a college student, you can also get the discount for yourself.
3. Raise Your Deductible
If you haven't been in an accident for a long time, or you haven't accessed your policy in quite sometime you might benefit from raising your deductible. This will mean that you pay more out of pocket if you were to file a claim, but save money each month on your premiums. Thus, if you are confident that you can pay the deductible even if it is higher, but that the chances of your needing to access the policy are low, then this might be a good way to save money.
4. Buy An Energy Efficient Car
If you buy a car that is energy efficient, like an electric car or a hybrid, you can get good discounts on your insurance. You may also get some sort of tax credit or deduction for it. This is because the insurance companies want to incentivize people to be more energy conscious. They might even pass a discount onto you if you carpool more and drive your car less.
These are just a couple things that you can do to save money on your car insurance.
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