Show of hands: Who actually spends time shopping around for ways to save money on their car insurance? Anyone? OK, next question: Who wants to save money on their car insurance? Yeah, we figured that would get your attention.
With the help of our friends at CoverHound.com, the only website that offers instant comparison insurance rates from top carriers, we nailed down some quick and easy ways you can keep some cash in your pocket.
1. Use a Personal Shopper: Thanks to the convenience of the Internet, finding a great rate on auto insurance in your underwear can be a reality. With their propriety technology as featured in the Wall Street Journal and The New York Times, CoverHound.com will do all the legwork to help you save money, comparing instant, accurate rates across multiple trusted brands such as Progressive, Safeco and Travelers. “Choosing the right level of insurance coverage at the best price can be a time consuming and cumbersome process,” says CoverHound.com founder and CEO Basil Enan. “We’ve built a sophisticated comparison engine that takes just seconds to sift through tens of thousands of different carrier and coverage combinations to find the best value for the consumer.”
2. Bundle your policies: Are you and your spouse on the same insurance plan? Have you considered adding renter’s or homeowner’s insurance lately? Whenever you combine coverage with one carrier, you’re guaranteed to save money. This can come in handy if you have multiple drivers in your household, especially if one of those drivers happens to be a teenager. At CoverHound.com, you can compare instant rates for your auto, homeowner’s or renter’s insurance and see the additional discount you could get by bundling your policies.
3. Step up your security: If your car came equipped with an alarm system, congratulations, you’re already on your way to saving. But if you’re looking for an additional way to save some dough and keep your car safe, try improving your security system. Adding a LoJack Stolen Vehicle Recovery System, for example, could earn you a savings of up to 25%. This reduction is carrier and state dependent, so be sure to talk to your provider before you make the investment.
4. Be a defensive driver: While most drivers know that taking a traffic school course can keep insurance rates low after a traffic citation, did you know completing a course voluntarily could actually reduce your premium? Many insurance carriers have discount programs in place for drivers who elect to take a defensive driving course. In fact, some states such as New York, New Jersey, and Delaware have mandated premium reductions for drivers who complete a driver safety course. Contact your carrier to see if they offer a discount for completing a course.
5. Change your commute: Insurance providers base your annual premium rate on how many miles you drive. So it would make sense to drive less, right? If you’re lucky enough to work close to home, you could already be saving some cash. If not, try mixing up your commute by hopping on public transportation or carpooling with a co-worker. Or dust off that two-wheeler and ride your bike to work once or twice a week. The less you’re on the road, the greater your chances of saving money. Just be sure you share this info with your insurance provider so they can re-evaluate your rate.
To find more great tips on auto insurance and saving money visit CoverHound.com.