UPDATED: Mar 19, 2020
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Many people wonder how to get cheaper car insurance quotes. Car insurance premiums are calculated utilizing a variety of indicators that vary from one insurance company to the next but there are some that are common to most. May car insurance companies also offer various discounts that can be taken advantage of when getting a quote. To get cheaper insurance rates, making sure that your quote profile looks most
appealing will help you get the best coverage at the best rates. Below are 18 ways that you can go about getting the cheapest car insurance quotes.
- Shop AroundShopping around for car insurance is the best way to help you get the cheapest car insurance. You should compare car insurance quotes every 6
months and any time you have a big change to your life such as when you start a new job, move to a new home or before buying a new car. Comparing quotes from at least a few different companies will give you the best way of ensuring your always getting the best rates available.
- Increasing Your DeductiblesDeductibles are how much you agree to pay out of pocket before your insurance company starts paying for any claims. By increasing your deductible by just a few hundred dollars can lower your
premiums by as much as 30%.
- Don’t Buy Coverage You Don’t NeedThere are many types of optional coverages offered by insurance companies. If you are unsure or confused about the type of coverage you’re getting, have your agent clarify them to you and decide if you really need that coverage. Many times, you may not need certain types of coverage or are already covered in other ways. For example, if you already have good health and life insurance, you may only need to buy the minimum personal injury protection required by your state.
- Reduce Coverage for Older VehiclesIf you have an older vehicle, consider reducing or dropping your collision and comprehensive coverage. A general rule of thumb states that if the value of your vehicle is less than 10 times your premium, this extra coverage isn’t cost effective.
- Increase Your CoverageSurprisingly enough, there are sometimes situations where increasing the amount of coverage you get will decrease your premiums. Some insurance companies group drivers by coverage amounts. For example, people who only get the minimum required car insurance may be a higher risk than people who opt for more coverage. If you get a quote for state minimum car insurance, it might actually be higher than the rates for high coverage.
- Purchase a Safer or Lower Profile VehicleThe type of car you drive affects your insurance premiums. Safer vehicles are less likely to be involved in an accident and if they are, the overall costs associated with any damages are usually less so insurance premiums are lower. Sports cars specifically have higher premiums because they are historically driven faster and more recklessly than a family car.
- Get the Safety PackageThe more safety features your vehicle has such as air bags or anti lock brakes, the lower your rates will be. The way insurance companies look at it is that if you’re driving a safer vehicle, you’ll be less likely to be involved in an accident and if you are, the safety features will make it a less costly accident.
- Maintain a Good Credit ScoreYour credit score is a big factor when car insurance companies calculate your car insurance quote. Maintaining a good credit score can keep your rates lower than people who have bad or no credit. If you do have a poor credit score, you should work hard to repair your credit and you can see your rates drop along with getting other benefits associated with having a better credit score.
- Be a Safe DriverDriving safely and obeying the rules of the road help show insurance companies that the risk of you being involved in an accident are lower than other drivers. Keeping your driving record clean will also keep your car insurance rates low.
- Take a Defensive Driving CourseA defensive driving course helps prove that you are more knowledgeable about safe driving and will help reduce your insurance rates. If you have been involved in an accident or received a speeding ticket, taking a defensive driving course can help reduce points on your license and lower your rates.
- Take Advantage of Low Mileage DiscountsIf your yearly mileage is lower than average, some companies will offer discounted rates. If your mileage is low enough, you may also qualify for pleasure use car insurance which is considerably cheaper than a standard policy.
- Install a Car Alarm or Other Anti Theft DeviceThe more you do to protect your car against theft, breakins and vandalism will not only help protect your vehicle, but can also reduce your premiums. Keeping your car in a locked garage rather than on the street can also get you cheaper insurance rates.
- Combine PoliciesGetting more than one policy from the same insurance company is a common way to reduce the amount you pay for coverage. When shopping for car insurance, compare quotes for a stand alone car
insurance policy and for coverage if you combine home and car insurance.
- Ask About Group DiscountsPeople who are in certain organizations or groups can receive cheaper insurance quotes just for being a member. Certain trade or professional organizations work to get their members discounts which can include car insurance.
- Avoid Any Lapses in CoverageEven short lapses in car insurance coverage can impact the amount you pay. When switching car insurance companies, be sure to only cancel your original policy after getting the new one.
- Be Mindful of Installment Payment FeesSome insurance companies will charge you additional fees for the convenience of paying in installments rather than one lump sum payment. If you’re paying extra for paying in installments, you
can save money by paying your premiums all at once.
- Educational DiscountsStudents who maintain at least a B average can usually get cheaper car insurance coverage. Insurance companies have statistics showing that students with better grades are also safer drivers and can therefore offer better rates. Also, getting an advanced degree can help lower costs.
- Professional DiscountsThe type of job you have can affect your rates. There are a wide variety of jobs that are eligible for lower cost car insurance including doctors, police officers, teachers, firefighters and many more. As mentioned above, some professionals also have their own professional organizations than can help their members get discounts.
- Ask for Other DiscountsSome insurance companies offer their own specific discounts such as Progressive’s new Snapshot Discount or Allstate’s Safe Driver discount that actually pays you back for not having claims. People can also get discounted rates based on other factors such as whether or not they are married, if they’ve been in the military, etc. Speaking with your agent about your own personal situation is the best way of uncovering discounts you may be eligible for.