5 Ways to Make Your Auto Insurance Affordable

If you’re having a hard time making your monthly auto insurance payment, you may want to take a closer look at your policy and see where you can find some additional savings. Doing a policy review once a year is a good habit to get into and can save you money.

So, before things get too bad, use these tips to help make your auto insurance more affordable.

• • Raise Your Auto Insurance Deductibles
    The easiest way to stay protected and lower your premium payment is to raise your deductible. This is the amount you will have to pay if you have an accident and file a claim. Lower deductibles mean you pay less and the insurance company pays more for an incident, but also means that your monthly premiums are higher. So, if you think you can afford $1000 or $1500 should you have an incident, or if you have put aside that amount in a rainy-day fund, then it might make sense to raise your deductible and save on your monthly bill.

• • Drop Coverages 
    If you have an older car or a car that has a low value, you might want to consider dropping some of the more expensive coverages. For instance, collision and comprehensive coverage are terrific protection for most situations, but if your car isn’t worth much it doesn’t make sense to pay for coverage. Instead, put the money aside to make repairs yourself or to buy a newer car!

• • Compare New Auto Insurance Quotes 
    If you haven’t shopped for car insurance for a while, you might be surprised at how much you can save. Rates are changing all the time and your personal situation also changes. It’s good practice to get car insurance quotes once a year and compare rates. A different company, that is hungry for your new policy may just offer you a much better deal than your current insurance company.

• • Your Car and Your Location 
    If you really need to find savings and are struggling with the typical ways of bringing down your premium payment, you may want to consider the car you drive. You may be driving a car that is more expensive to insure than others. In addition, your location can mean higher rates also. You can run quotes for different makes and models, as well as different zip codes, to see how much you might save.

• • Maintain Your Credit Score 
    If you have a clean record, a normal vehicle and you don’t live in a high-risk area, and you’re still feeling like you are paying too much in auto insurance premiums, you may want to take a look at your credit score. Insurance companies factor in your score, so a bad credit rating could be the culprit. Work to get your credit repaired and your rates should come down.

• • Don’t Let Your Auto Insurance Lapse 
    The one thing you don’t want to do is have a lapse in your car insurance coverage. The worst case is if your coverage is cancelled by your insurance company. This creates all sorts of headaches for you including the potential of being in violation of the law, having your vehicle registration cancelled, and making it much more expensive later on when you try to buy car insurance again.

Use the InsuranceWins easy-to-use form to run some auto insurance quotes right now and find out how much you can save.