3 Ways To Save $$$ on Car Insurance

Lately, I've been looking around at new car Insurance providers. I started looking around since my good friend switched some things on his car insurance policy and he is saving about $25 a/mo. When he told me, I thought "that's cool". Then my mechanical mind went to work. $25 x 12 months = $300! By tweaking a few things.. I could make a car payment. With how things are with the economy, who wouldn't want a car payment taken care of? I did some research and have included 3 ways to save on Car Insurance:

#1- Don't be afraid to shop around
Just because your Car Insurance broker is friendly (or your friends cousin), that doesn't mean that he is the best person to go through. Don't be afraid to shop around and get quotes. I would recommend getting around 4 quotes depending on how much time you have to spend. There are companies like Progressive Insurance who can help you do some of your homework and legwork for you.


#2- Ask about Discounts when getting your Car Insurance Quote.
Many companies offer discounts for several things. Some examples of this are:
-Combination Discounts (home and car insurance)
-Good Student Discounts (normally students with 3.0+ GPA)
-Retirement Discounts
-Loyalty Discounts (sticking with the company a while)
-There are many, many more, just ask, they want your business!

#3- Increase your deductible
If you are in an accident and its your fault, you will pay what is called a deductible. This is the amount that you will pay before the insurance starts covering the rest. Raising your deductible from $500 to $1,000 deductible could have a dramatic increase in savings. You could save 15% to 40% depending on what deductible you pick. Only pick this one if you are not in accidents regularly.

I hope that you can use these tips to save some money on your car insurance. Don't be afraid to get some quotes, and shop around. Maybe you can save enough to cover a car payment on your car insurance.