5 Ways To Save On Car Insurance

5 Ways To Save On Car Insurance
November 6, 2018 dtric2

Car insurance companies have a variety of factors that determine your premium amount from the type of car to your driving history.

Many people select an insurance policy based on premium costs alone; however, there are other important key factors to consider. While customers should get the most effective coverage based on their finances, they should factor in that car insurance protects them financially regarding auto damage and medical costs related to an accident, as well as protecting their other personal property from liability.

Here are five tips to lower your car insurance premiums while maintaining adequate insurance coverage to protect you, your family and your personal assets:

Comparing Costs

Check rates from other companies to make sure you’re getting the best deal. Many state insurance departments offer guides to available services, and you can utilize insurance comparison tools like Consumer Reports via the Internet. Websites like Insureme.com and Netquote.com are also one-stop sources for comparing insurance costs. Don’t shop solely by price; ask family and friends for their recommendations.

Bundle Your Insurance Coverage

Policyholders may get a discount if they bundle their homeowner and auto insurance policies through the same insurance company as DTRIC. Some insurers reduce the rates for longtime customers.

Setting The Right Deductible

A higher deductible reduces your premium, but you must pay more out-of-pocket in the event of an accident. If you have a good driving record and haven’t had an accident that you were found to be at fault, you may want to consider a higher deductible. The reward for this action could be up to a 40 percent savings.

You can also drop full policy coverage if your car is older than 10 years.

Consider dropping collision and/or comprehensive coverage on older cars. If your car is worth less than 10 times the premium, purchasing the coverage may not be cost effective.


Purchase a multi-vehicle plan

Having all owned vehicles under the same contract will help drivers get better premiums than insuring each individual vehicle. If your family owns several cars driven by spouses and adult children, you may get a better premium rate by insuring them under one policy.

Keeping a good driving record

A good driving history is the most effective way to keep your auto premium low. Companies normally surcharge policyholders for accidents and traffic violations.