Coping with the cost of car insurance can feel like an insurmountable task, and it might even be enough to put you off the idea of owning a vehicle altogether.
Thankfully it doesn’t have to be this way if you know where savings can be made, and there are a few tactics to try out which will put more cash in your pocket and still get you the cover you need.
Avoid monthly payment packages
This might not be an option for everyone, but if you’ve got enough room in your budget to pay for car insurance annually as opposed to on a monthly plan, it’ll cost you less in the long run.
Build up good credit
Aside from in a handful of states, you’ll find that insurance providers will adjust your policy price based on whether or not you’ve got bad credit history to your name.
The solution is to build up good credit by being careful with your money, paying off any debts you have on time, and using your credit card responsibly.
Stay safe behind the wheel
Adhering to safe driving tactics is important if you’re worried about car insurance costs. This is because taking risks will increase the likelihood of you getting in an accident, and with thousands of crashes and deaths recorded annually, you need to be on your guard.
Plus if you do get in a crash and need to make an insurance claim, your premiums will be more expensive for years to come.
Use a car insurance comparison website
There are a surprising number of insurance providers out there, and so this results in enough competition to make it worth sourcing quotes from as many brands as possible.
With the help of a comparison website like Cheap Insurance, this process can be automated. That way you can see every offer and package out there, and make an informed decision to get affordable insurance in a jiffy.
Consider the car you’re driving
There are a few things about your choice of car which can impact insurance costs. Sticker price is partly relevant, but the type of car and the horsepower under the hood will hold more sway over what you pay.
Family wagons are cheaper to insure than souped-up sports coupes. Indeed any kind of modification you make to your car can be viewed as a sign of increased risk by insurers, so it’s best to leave it stock rather than tinkering.
Choose a specialist policy
It could be a good move to steer clear of mainstream insurance providers if your vehicle is not a run of the mill daily driver.
For high value vehicles, such as supercars or classics, which won’t be doing many miles a year, a specialist insurer will be better equipped to cater to your needs.
Double down on your deductible
Lots of insurers will give customers the option to increase the size of their deductible obligations, which basically means that if you make a claim, you’ll have to pay more of the cost to repair your car or replace it as necessary.
This obviously leaves you in more of a sticky situation if an accident does occur, but the benefit is that your insurance premium will be cheaper. If you’ve got a good track record of staying safe on the roads, or you simply don’t mind the added risk, this is a route to consider.
Final thoughts
While some of the options for saving money on your car insurance won’t make a huge difference, collectively you could see significant benefits, so it’s well worth using every trick in the book to cut costs.
