10 Best Ways to Lower Your Car Insurance
Save Some Money on the Necessities
As we approach the year 2020, we are getting ramped up for our New Year’s Resolutions. On many lists will be the idea of cutting back on expenses, saving more money, or earning more money. Since car insurance is one of those things that you have to have if you want to drive (legally), let’s slash expenses there in order to splurge on the things we enjoy.
Now keep in mind that slashing expenses doesn’t mean eliminating coverage. With a dozen or so top insurers out there, they’re always vying for your business. To draw you away from the other companies, they have competitive rates; something you can use to your advantage. Hopefully the insurance is just there for catastrophes, and you never have to bring your vehicle to Big Sky Collision Center for auto body repairs. But if you do, you know that you will be taken care of.
Compare Every Two
Insurance changes all the time. And often, when you have been a loyal customer of one company, you may not be getting the loyalty discounts that you deserve. Every couple of years, have your broker check out how your current rates compare to other companies. There’s a chance you’re considerably overpaying.
Bundle Policies to Save More
Different companies charge different amounts. While company X may be cheaper for auto insurance, they are more for home owners. What many people don’t realize is that this is before bundling discounts are applied. You can almost certainly save by combining policies. Even if you’re just renting, a renter’s policy is only about $20/mo, but could discount your auto policy by more than $20.
Double Check Your Miles Driven
The more miles you drive, the greater your risk to the insurance company (it’s simple statistics; more time on the road correlates with higher likelihood of an accident). If you can reduce the miles you drive, you can often get a discount on insurance.
Consider a Class
Most insurance companies will offer discounts if you have taken a defensive driving course lately. Consider taking one if the cost of the class is less than the amount you will save on your rates.
Work on Your Credit
Modern insurance relies heavily on credit. The companies have found that those with lower credit tend to be a bigger risk of being in accidents. If you can bump your credit up, you can bump your rates down.
Buy a Better Vehicle
Better, in this instance, means one with lower premiums. Different vehicles are insured differently. For example, to insure a brand new Tesla, you’re going to pay a lot more than to insure a 2010 Honda Civic. For the most part, brand new vehicles will cost more than older vehicles. But you don’t want to go too old and sacrifice safety. Before purchasing, have your insurance agent run a quote.
Most companies will charge more for multiple payments throughout the year. There are a few (USAA for one) that don’t add this charge. Depending on the company that you are insured with, you may be eligible to save quite a bit of money if you switch to paying a lump sum each year than spreading those charges out.
Seniors Save More
Nearly every insurance company has discounts for people as they get older. If you have hit that 55 year old mark, then it’s time to ask for the senior discount. Don’t be shy or too proud, take advantage of the discount you have earned by being here!
Deductibles Matter Some
Deductibles are a tricky thing. On the one hand, you will pay less if you raise the deductible (higher deductible means that you take more risk and the insurance company takes less). But how much will you save? If you go from a $100 deductible to a $1,000 deductible, and your premiums drop $5 per year, it will take 180 years to save the $900 difference from your savings alone. Play with the numbers; settle on what you are comfortable with.
Big Sky Collision Center Works with Insurance Companies
If you have been in a collision and you’re filing an insurance claim, we work with all of the insurance companies out there. There are a few that we have relationships with that will help to streamline the process, but you can come to us no matter what company you are insured with.
Have you been in an accident and you need to get in touch with the best auto body repair company in Billings, Montana? Then call us at 406-259-6328 and we’ll get you on the schedule!