3 Tips and Ideas for Cutting Car Insurance Costs

Due to the legal nature of our society and the rising prices of vehicles, auto insurance rates are on the rise across the country. 

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The bad news is that insurance prices are unlikely to fall any time soon. The good news is that there are a number of things you can do to minimize the increase or decrease in your wallet burden.

1. Multiple Cars and / or Drivers Can Save Money

If you get a quote from an auto insurance company to insure one vehicle, you will probably get a higher quote for each vehicle than if you ask about insuring multiple drivers or vehicles with that company. The insurance company will offer you a large amount because they want your business. In certain circumstances, they are willing to give you a deal if it means you will bring in more.

Check with your insurance agent to find out if you qualify. In general, many drivers must live in the same residence and be related by blood or marriage. Two unrelated people may also be able to get a discount; However, they usually need to have the vehicle together.

If one of your drivers is a teenager, you can expect to pay more to insure them. However, if your child's grade is B average or higher or if they are in the top 20% of the class, you may be able to get a good student discount on coverage, which usually lasts until your child turns 25. This discount can range from 1% to 39%, so be sure to show proof to your insurance agent that your teen is a good student.

Incidentally, some companies may also give you discounts on car insurance if you maintain other policies with that company, such as home owner insurance. Allstate, for example, offers a 10% discount on auto insurance and a 25% discount on homeowners insurance when you combine them, so check to see if those discounts are available and applicable.

2. Take a Defensive Driving Course

Sometimes insurance companies will provide a discount for those who complete an approved defensive driving course. Drivers can also reduce the number of points they have on their license by taking defensive roads, accident prevention, or other courses.

Be sure to ask your insurance agent / company about this discount before you sign up for classes. However, it is important that the effort expended and the cost of the course translate into sizable insurance savings. It is also important for drivers to enroll in accredited courses. Each state has its own rules for accredited defensive driving courses, and GEICO allows you to check anything by state on its website.

3. Bigger Cars Are More Expensive

Buying a large SUV may sound great, but insuring a 5,000 pound high-end vehicle can be more expensive than insuring a low-cost (but safe) small commuter car. Some insurance companies will offer a discount if you buy a hybrid or alternative fuel vehicle. Farmers, for example, offer a 5% discount

You can feel comfortable protecting the environment and at the same time save money on insurance. Find out the exact rates to confirm the various vehicles you are considering before making a purchase.

And those are 3 Tips and Ideas for Cutting Car Insurance Costs so that your wallet doesn't have a hole. Hopefully this can be useful for those who are looking for tips on saving on insurance.

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