Top 6 Secrets of Saving Money on Car Insurance

By on April 21, 2013

#5 Check Your Credit

Insurance companies aren’t allowed to randomly check your credit score and adjust your premium up or down once you’re already established with them. At least not without your express permission. It’s illegal.

But you can request them to do it for you. Why would you do this? If you first signed your policy contract when your credit score was unusually low, then you might be able to finagle a less expensive premium with a higher score now.

The only hiccup here is that you need to be sure your credit score is better now than it was then, otherwise you’ll basically be forcing your insurance company to charge you more.

And that would be the exact opposite of the help I’m trying to impart to you!

#4 Hike Up the Deductible

This is a commonly heard suggestion for lowering car insurance payments, but it’s a good one. If you raise your policy’s deductible by just a couple hundred dollars you could save yourself some serious premium money.

The obvious disadvantage to this is that if you happen to get in a wreck, you’ll be paying more out of pocket to get it taken care of. But if you combine this suggestion with #2 (and with learning some basic car maintenance DIY), then your chances of needing to pay that deductible anytime soon will go way down.

#3 Combine Your Insurance Policies

You know how when you bundle your internet, phone and cable services with one provider, you can end up saving some serious dough? Well, the same thing applies to insurance.

If you can combine your car insurance, homeowner’s insurance, and even life insurance into the services of one company, you’re usually able to receive a pretty decent discount.

Whether you’re looking for a new car insurance company now or you’ve already had one for years, do some research to see if bundling up policies will save you money.

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