A lot of the so-called “experts” say that we are out of the Great Recession, and that the economy is bouncing back. I don’t know about you, but I’m still looking for ways to keep a few extra dollars in my pocket. Whether it’s done by going out less, or dropping a few of those premium channels from my cable provider it’s still always smart to trim your expenses where you can. One of the things that every driver is spending money on is insurance, and you may be paying too much.
So what should you do to lower your monthly insurance premiums? I found a great list of the top ten things that you can do to make your wallet a little more happy every month from msnbc.com. Here are a few of the tips.
7. Seek out discounts for teens. Insure teenagers on the parents’ policy rather than a separate policy. Teens who maintain good grades and pass an approved drivers’ education course usually can qualify for reduced rates. An additional discount may come into play if your child goes to college more than 100 miles from home and doesn’t bring a car along.
8. Combine policies with one carrier. You may save money if you insure all your vehicles, including trailers and recreational vehicles, on a single policy. Your car premium also may go down if you buy homeowners’ or life insurance from the same company.
9. Ask about other discounts. You also might be able to pay less if you’re older than 50 or 55 and/or retired; if you’ve had no accidents or moving violations in three years; or if you’re a longtime customer. Keep an eye on the bottom line, though. Call a few other insurers to make sure you’re paying the lowest overall amount.
10. Pause before paying extra for roadside assistance. It might be good to line up a roadside assistance plan elsewhere because a tow could increase your auto insurance premium and might even affect your eligibility for coverage. What’s more, you may already have an adequate roadside plan through your credit card.
Be sure to read the whole article for the rest of the top ten. Saving money is always a good idea, and if you can set aside a couple hundred dollars a year that would have been spent on car insurance then I’m sure that you’ll be a happier driver. Let me know in the comments if you have any other great ways to save on your car insurance.
