Insurance Basics: Everything You Need to Know

Ways To Get Car Insurance For Less

Are you looking to keep the price of your car insurance as low as possible? There are a number of ways to get cheap car insurance, but if it's been some time since you've attempted to update or change your policy, you might not know where to begin. To that end, here are some tips that might help you find a good policy for less money or get a discount on the insurance policy you already have.

Add Competition to the Mix

If you've been paying the same car insurance provider for years, there's nothing wrong with seeing what else is out there. Comparison shop and then contact your current provider to let them know you have an estimate or quote for a better deal with someone else. You might get offered a better rate at your current provider. If your current provider won't play ball, then it's time to consider taking the offer you found with the competition. Don't be afraid to continually check your possible rate with multiple car insurance providers as time goes on to ensure you always have the best rate possible.

Drop Less Important Coverage

Did you get every possible type of coverage when you bought your new car but now your car is much older? You will still have minimum requirements (which can vary by state), but perhaps you no longer need comprehensive coverage or even collision coverage if your car isn't worth much today anyway. Keep in mind that it's a good idea to maintain coverage for damaging someone else's property or causing bodily injury in order to protect yourself from a legal and financial standpoint if you ever get in an accident.

Raise the Deductible

If you don't want to drop certain types of coverage completely, you can still save money by raising deductibles across the board. A $2,000 deductible will provide you with a lower monthly rate when compared with a $500 deductible. Go down your policy line by line and see if there is any area where you would feel comfortable increasing your deductible as your car gets older.

Bundle Some Savings

Does your car insurance provider also offer home or rental insurance or some other type of coverage? If you currently are insuring multiple things through multiple entities, consider taking all of your business to one company and you may unlock some bundle savings.

Shop around and consider changing some of your coverage options as your car gets older in order to keep your car insurance as cheap as you want it to be.