Wheel logo

9 Ways to Get Cheaper Car Insurance

Owning a car can be beautiful—it offers you flexibility and convenience while traveling.

By Marshall StevensonPublished 3 years ago 3 min read
Like
9 Ways to Get Cheaper Car Insurance
Photo by Grahame Jenkins on Unsplash

Owning a car can be beautiful—it offers you flexibility and convenience while traveling. However, it doesn’t come without consequences.

Besides ensuring the mechanic who fixes your car issues has reputable automotive and diesel certifications, your car needs a reliable and affordable insurance plan. Here are nine easy ways to save on insurance costs, whether you’re renewing your current insurance plan or buying a new policy.

1. Compare Insurance Costs

Insurance prices are different depending on the company. Shop around for a cheap car insurance premium that is compatible with your pocket. You could ask your friends and family to recommend what they use and see if theirs is a suitable fit. Information about their premiums and quotes is available on the internet. You can find cheap car insurance with iSelect or call the different insurance companies to make inquiries.

2. Combine Your Policies

If you have multiple insurance policies such as home and car, combining them is a good idea because you get to save money. Plus, working with one policy is so much easier and fluid than different separate policies. You also get a discount with some companies when you combine your car and home insurance with the same company under one address.

3. Consider Paying Annually Rather Than Monthly

Although it may be challenging to pay a lump sum annual amount, in the long run, it is quite cheaper than every month. Paying in one go is lower in terms of the total amount paid than paying in monthly installments. So if the options on the table and you can afford it, go for it and save yourself a substantial amount of money.

4. Make Your Car More Secure

Adding alarms, trackers, steering wheel locks, and immobilizers to your car's security systems will offset the insurance premiums by a sizable amount. These security systems in your car lower the risks and incidences of thefts which is a plus for the insurance company. In turn, the premiums you also pay become low.

5. Lower Your Coverage for Older Vehicles

For cheap car insurance, drop comprehensive coverage for older vehicles. It may not be cost-efficient to cover a car that is not worth the insurance premium you pay for it. You should find out the worth of your vehicle before selecting a coverage option.

6. Have A Good Credit Record

A solid credit record reduces your insurance cost. According to Forbes, most insurance companies use your credit history to set the insurance policies amount for the riskiest drivers. People who manage their credit have fewer insurance claims. Simple actions such as paying your bill on time and not getting more credit than you need will protect your credit record.

7. Look into Multi-Car Savings

This especially applies if you have more than one car. Some insurers will offer up to 10% discount for policies that cover more than one car from the same address. So rather ta getting two different policies for both your cars, save money and get one for both of them.

8. Only Pay for What You Need

There are several different types of car insurance policies available in the market, only scour and find what you need. Carefully go through your insurance policy and select only those that you feel are important to you. If you ever need to get your car across the country, finding the cheapest way to ship a car would probably save you money rather than paying for a policy that includes that sort of coverage.

9. Raise the Excess of Your Policy

If you rarely make claims, raising your excess is the right way to lower the premiums you pay for your car insurance. If you are an experienced driver or even a new one, this might be a way to reduce the cost of your premiums. Car insurance premiums don't have to break the bank. Put in the time and effort to look for efficient ways to lower the rates and save yourself some money.

how to
Like

About the Creator

Reader insights

Be the first to share your insights about this piece.

How does it work?

Add your insights

Comments

There are no comments for this story

Be the first to respond and start the conversation.

Sign in to comment

    Find us on social media

    Miscellaneous links

    • Explore
    • Contact
    • Privacy Policy
    • Terms of Use
    • Support

    © 2024 Creatd, Inc. All Rights Reserved.