Cutting down on monthly expenses is a great way to boost your ability to save for a rainy day without sacrificing any of your already scarce free time in order to work additional hours. With so many different ways to save, your auto insurance policy provides the perfect starting point to accomplish this goal. Continue reading to learn five ways you can lower your auto insurance costs.
1. Raise Your Deductible
Raising your deductible can result in a rather substantial savings on your auto insurance each month. While it is true that a higher deductible means you will need to pay out more in the event of an accident, the savings you enjoy will typically outweigh this slightly higher payout. Furthermore, you will only need to pay this additional amount if you end up needing to file a claim. Choosing a lower deductible policy means you will be paying this amount over the course of time whether you end up using your insurance coverage or not.
2. Download Safe Driver App
Inquire with your insurance company as to whether or not they offer a safe driver app. Many insurance carriers offer some version of this service. These apps allow your driving habits to be monitored for a period of time. From there, you are assigned a discount to your policy based upon your own safe driving skills.
3. Take A Defensive Driving Course
Completing a defensive or safe driving course is another way to qualify for an additional discount. These courses are often available both online and in-person and don't usually last more than a few hours. In addition to lowering your insurance costs, the completion of these courses can also result in points being removed from your license if you previously received traffic tickets.
4. Consider Paying In Full
If you have the money to pay for your insurance policy in full rather than making monthly payments, this can easily net you a serious discount without doing anything other than simply paying up front. If you don't have the cash on hand to take advantage of this opportunity, you may wish to consider using a credit card to make this purchase if you have a card that is currently offering you a no-interest rate period.
5. Work With An Insurance Agent
Insurance agents will help you identify a variety of ways to save. For instance, these agents will be knowledgeable regarding any affiliate discounts that may be available to you. These agents will also be able to help you carefully review your coverage options to ensure you are not paying for any coverages that you don't need. Best of all, since these insurance agents work on commission, you can easily take advantage of these services without spending any additional money. Contact an auto insurance agent to learn more.
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