Car insurance may be a necessary purchase, but it can be an expensive one as well. If you have teenage drivers in the house you may already know just how costly car insurance can be, but even older drivers with stellar driving records can find that their premiums keep going up.
Fortunately there are some things drivers can do to keep the cost of insuring their vehicles affordable. Some of these strategies are obvious, while others may not be, but each of them is important in its own right.
Cover small repairs on your own
Filing multiple claims in a short period of time is sure to raise a red flag with your car insurance company, and those claims may raise your rates as well. In some cases filing multiple claims could even mean the insurer refuses to renew your coverage, leaving you scrambling to find the replacement coverage you need to stay on the road.
For this reason it is generally a good idea for drivers to take care of small repairs on their own, without filing an insurance claim.
Obviously if you are in an accident with another driver you will need to file a claim with your insurance company, but if you back into a pole at the supermarket or pull into the garage a little too fast paying for the resulting damage out of your own pocket can save you money in the long run.
Take advantage of available discounts
Companies that provide car insurance have a number of discounts available, but many drivers are not taking advantage of all the discounts they have coming. Some discounts - like the good driver discount - are obvious, and they will automatically be applied based on your driving record.
Other discounts may not be so obvious, so it is a good idea to provide as much detail as you can about your car and your driving.
Many companies offer discounts to drivers who keep their vehicles in a garage, while others provide additional discounts for cars equipped with anti-theft devices. Other discounts may be available for cars with anti-lock brakes, cars equipped with side airbags and other safety devices.
Drivers may be able to qualify for additional discounts by taking a defensive driving course or enrolling in other special training programs. Discounts for members of professional associations may be available as well, so it is important to ask about any discount you think you should be receiving.
See also: Auto insurance discounts to look for
Combine your insurance coverage under one umbrella
If you carry your homeowners insurance and car insurance with the same company you may be able to take advantage of some additional discounts. Many insurers provide substantial discounts for policyholders with more than one type of insurance, so may be worth your while to explore this option.
In addition to the discounts combining your car and homeowners insurance also gives you the opportunity to add umbrella coverage, providing extra protection for your home, your car and your family.
The cost for this umbrella coverage is often quite low, so you may be able to put a million dollars worth of insurance in place for a very affordable rate.
