Like most people, you rely on your car to get you to and from work, shopping trips, and even to your favorite vacation destinations. As you know, driving a motor vehicle also means you need to have it covered by auto insurance, which can sometimes be a bit expensive. If you want to make sure your commutes and other trips stay covered, here are some steps you need to take concerning your auto insurance.
Reduce Your Coverage
Should you own an older car that still gets you where you need to go day in and day out, you may want to think about reducing the insurance coverage you have on your vehicle. In most cases, this means the collision and maybe the comprehensive coverage. As a general rule, if your car is worth less than 10 times the cost of your premium, reducing your coverage will be a smart decision.
Bundle Your Insurance
To really save money and keep your commutes covered, you should look into buying all of your insurance through the same company. If you have auto, home, and other types of insurance as well, you will likely get a substantial discount if you have a good driving record, have been a longtime customer, or drive a vehicle your car insurance company deems to be very safe.
Increase Your Deductible
If you are a safe driver, you know the chances of you being involved in an accident are relatively low. Therefore, you may want to think about increasing your deductible. Should you do so, you could see substantial savings on your car insurance. For example, if you increase your deductible from $200 to perhaps $500, this could reduce your insurance premium by 30 percent. By increasing the deductible to $1,000, expect your savings to hit 40 percent or more.
Ask About Other Discounts
With almost all insurance companies, there are many other lesser-known discounts drivers can take advantage of to reduce their insurance costs. For example, if you have an excellent credit record, have antitheft devices on your vehicles, or put low annual mileage on your car, you should be eligible for additional discounts.
Since it is illegal in virtually all states to drive a vehicle without auto insurance, make sure you always have the insurance needed to keep your commutes covered. Whether you raise your deductible, find out about the various discounts for which you are eligible, or change the type of coverage you have on your vehicle, putting these steps into practice will make having auto insurance much easier.
