Four Tips to Save Money on Your Auto Insurance
Submitted by Carson Now Reader on Fri, 07/15/2022 - 1:46pm
Gas prices, tight budgets and rising inflation – according to a recent COUNTRY Financial survey, 9 out of 10 people are concerned about achieving financial goals because of the current economy. With expenses running high, many people are looking for ways to save. Because car insurance is a regular expense, you may be able to trim those costs. Consider these four simple tips that could help you save money on your car insurance.
1. Follow the speed limit
You don’t have to have an accident to see your car insurance rates increased. Speeding tickets or other traffic offenses also make those costs jump. If you need an incentive to be on your best driving behavior, check with your insurance company to see if they have a smart phone app to help you understand your driving behavior and drive more safely. You can often get a discount just for participating and earn additional discounts up to 25% based on your driving score. For example, customers who enroll in and use COUNTRY Financial’s DriverIQ app can start with a 10% discount that could increase to as much as 25% with safe driving.
2. Keep your credit score up
Staying in good standing with the credit agencies can help your auto rates stay low. Pay your bills on time and check your credit history often to make sure it's correct. You can access your credit history for free at www.annualcreditreport.com
3. Choose your car carefully
Luxurious, sporty cars and newer-model cars are expensive to buy and expensive to fix, so they cost more to insure. On the other hand, newer cars with sensors and other safety features don’t just give you peace of mind on the road, they can be safer to drive and help keep your insurance rates low, too. Next time you’re car shopping, call your agent to get insurance rates on the make and model of the car you’re planning to buy. Think of insurance as one part of the cost of owning your car, and that could impact your buying decision.
4. Stack your discounts
Many insurance providers offer discounts, and in some cases, you can stack those discounts for greater savings. For example, when you insure multiple cars or insure both your home and car together, you could get a discount. But taking a defensive driving class, keeping a good driving record, being a good student, or having a certain career could layer more discounts and add up to more savings. Check with your insurance agent to make sure you are getting all the discounts you can.
While you may explore trimming coverages or making changes to your deductible, talk with your agent and make sure you completely understand the impact of those cost-saving changes. They could have long-term consequences if you have an accident or claim.
Sean Marler CFP® is a Financial Representative with COUNTRY Financial in Minden, Nevada. He can be reached at (775) 782-8363 or sean.marler@countryfinancial.com.
