5 Ways To Save Money On Your Insurance Costs – Everyone likes to save money on their car insurance. The most common discussions with our customers are how to reduce the cost of their car insurance and make sure they are adequately covered.
We sat down, did the homework for you and came up with our top 5 ways to save money on your car insurance.
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Almost every time we discuss this with our customers, it’s wrong. Things vary and so do the number of miles you drive to work and each year. Most companies base their rates on usage, so be sure to take a few minutes to discuss this with your agent. The savings may not be huge, but every dollar adds up and you need to make sure they have accurate information about how much you drive and how far you drive to work. If you have a vehicle that you only use in the summer or winter, this can be a great way to save money. We recommend at least once a year or whenever you make a change in your life, such as a new job or retirement. Very easy to do and only takes a few minutes.
What the hell is that? Telematics is a nice word for your smartphone that saves you money on your car insurance. It is actually an app that you install on your smartphone and that gives you a discount on your car insurance. This is a new technology and most companies already offer it. The app keeps track of your driving behavior, such as speeding, sudden braking and distance traveled. It will also know if you use your phone while driving. Imagine you’re not texting and driving. Discounts vary by company, but can be as high as 20% per driver, so shop around and see if you can get this new and exciting discount. It’s optional for most companies and we believe it’s the future of auto insurance.
This is another one that sounds simple but can save you a lot of money. A good insurance agent can review all of the coverages available for your unique situation and suggest ways to save money. Things like rental cars and towing are often unnecessary and expensive. Too often we see customers lose money with full coverage for older vehicles. Things like GAP coverage should be reviewed annually and removed if not required. A good broker can save you serious money here, so take advantage of their free advice.
What does your credit score have to do with the cost of your car insurance? everything. Many companies put more emphasis on your credit score than your actual driving record. I’m not saying I agree, but it’s the truth. So make sure you maintain your credit score at every opportunity. I’m not going to talk about how to do that because that’s a huge discussion. Just Google how to improve and increase your credit score. Trust me, it saves you money on your car insurance!
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That’s it, that’s it, our top 5 ways to save money on your car insurance. Call or email us if you have any questions. Happy saving!