Ah, car insurance. We all need it, but none of us like having to pay it. As much as we all know how much worse life would be without it, that doesn’t make it any more pleasant to end up shelling out massive amounts of money on a regular basis. But here’s the thing: there’s a very good chance that you’re probably spending far more than you have to on your car insurance. As much as it’s necessary to have, that doesn’t mean you always need to pay out the nose for it. In fact, saving money on your insurance is actually pretty easy if you know how. And if you don’t now how then you’re in luck! Here are a few incredibly simple ways that you can save money on your car insurance.
Okay so this isn’t always going to be an option, but if you have the ability to pay your car insurance yearly instead of monthly, then you should definitely go for it. If you pay monthly, then you end up building up a fairly sizable chunk of interest in your insurance which drives up the cost by a surprising amount. Insurance companies are relying on the fact that paying annually isn’t as much of an option for a lot of people to get away with charging higher interest rates for those who pay month-by-month.
When you first buy and insure a car, it’s pretty likely that you shop around for the best possible deal. The mistake that a lot of people make is that, a year later, they assume that their insurer will give them the best possible deal again. Insurance companies know that you’d rather just stick with them and renew your policy every year rather than going through the hassle of finding a new one. That’s why they feel like they can get away with raising the price of your insurance bit by bit each year until you’re paying way more than you need to and you didn’t even notice. It might be an inconvenience but make sure that you always shop around whenever your car insurance renewal comes around. If you find a better deal, you could even tell your current insurer about it, and they might well decide to match it in order to keep you.
Be a better driver
This is the one thing that you can do where the ball is entirely in your court. Insurance companies are never going to give the best rates to people who have shown that they can’t be relied upon to drive safely and carefully. The more accidents, fines and speeding tickets that you get, the higher your premiums. If you want your rates to go down, it’s time to start driving better. You can also have a black box installed in your car that allows your insurer to monitor your driving. By doing this, you can reduce your premiums pretty significantly as it reduces any risk of you driving irresponsibly.