Mammoth AwardsAre you satisfied with your monthly car payment? You may be, even if it’s a bit more than you can afford. Why? Because cars are often forms of enjoyment and entertainment that you sometimes can’t put a price on.
What about your car insurance, though? You’re probably not satisfied with it, as you don’t get to “enjoy” insurance every day. And in many cases, insurance may never get used if you don’t get into an accident.
Even if you never use it, you’ll still need to have insurance to keep your beloved vehicle on the road. And while that monthly premium that takes cash out of your bank account may be a bummer, these discounts can make it more manageable:
1. Paying ahead of time.
Did you know that your insurance company could reward you for paying your premiums ahead of time? They definitely can, which is why you should do so if you can afford it.
It may not feel great dishing out six months or a year’s worth of car insurance payments at once, but doing so could lead to 15 percent savings, depending on the carrier.
2. Buying a safe and secure car.
When you shop for a car, you may look for a certain color or model. But if you overlook the car’s safety features, it could end up in a higher insurance payment.
The safer your car, the better. And if you need an example of how much of a difference safety features can make, have a look: Geico has offered 40 percent discounts for full-front-seat airbags in the past.
If you own an older car, look into what improvements you can make to boost its safety rating or security. Something as simple as adding an alarm could slash your premium.
3. Becoming a better driver.
Taking a defensive driving course should be at the top of your list if you’re looking to pay less for insurance. It doesn’t cost a lot nor take a lot of time, and your insurance company can reward you for your work by reducing your premium.
Will any class suffice? Not necessarily, which is why confirming which classes your insurance company approves is a must. You can do this by giving your agent a call before signing up for anything.
4. Being a good student.
Are you worried about excessively high car insurance rates for your teens? If so, tell them to do their best at school, as they could be of big help. How?
By getting discounts for good grades.
State Farm has a 25 percent discount for good grades, which translates into huge savings when you consider how expensive it can be to insure young drivers.
5. Bundle your coverage.
You can save time and money by bundling coverage for your home, car, etc., with one company. Farmers has offered a 22 percent bundling discount, which can save you a nice chunk of change.
