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5 Ways to Lower Your Auto Insurance Quote

5 Ways to Lower Your Auto Insurance Quote

Car insurance is one of those costs that can change often, so it's essential to review your policy periodically to ensure the coverage meets your needs and see if you can lower your auto insurance quote. Changing factors can also affect your rate, such as adding a driver to your policy or removing a child from college without a car.

Review Your Coverage

The type of coverage you select significantly impacts your auto insurance rates. You can lower your auto insurance quote by dropping coverage you don't need, such as personal injury protection and medical payments, or increasing your deductibles.

The year, make, and model of your car, its safety features, your driving record, and the miles you drive each month are other factors affecting your insurance premium. You can qualify for low-mileage discounts if you can reduce your yearly mileage by joining a carpool or taking public transportation.

Keeping a clean driving record and not making claims will also help lower your rates. Changing your policy to include only the minimum required by your state and adding a home or renters policy with your auto insurer can offer additional savings.

Review Your Deductibles

Reviewing your deductibles regularly is essential to ensure they align with your coverage needs and budget. In general, increasing your deductibles will lower your premiums, but be sure you choose a deductible amount you can afford to pay in case of a claim.

You can save by dropping your comprehensive and collision coverage and sticking with liability only. Liability-only insurance is usually much cheaper than complete coverage, and it may be an excellent option for drivers with older vehicles that are not worth repairing. Lastly, you can reduce your rates by working to improve your credit score. This can be done by monitoring your credit and challenging any questionable items that lower your score.

Review Your Driving Record

While you might not be able to erase all the speeding tickets and accidents from your record, you can make some improvements that can help lower your rates. Many companies look back at your driving history for about three to five years. Some may check further, depending on the state and company. Take a traffic safety course or register for gadgets that monitor your driving habits to improve your record and lower your rates.

One of the most important variables affecting your auto insurance quote is your driving history, also known as your motor vehicle report (MVR). Car insurance companies will often reward you with cheaper rates if your MVR is clean, indicating that you are a safe driver. Keeping your record clean is easy by avoiding speeding tickets, at-fault accidents, and reckless driving.

Shop Around

With car insurance accounting for a significant portion of many drivers' budgets, keeping your premium as low as possible is essential. While some factors cannot be changed, like your credit score or driving record, shopping around can help save money.

Consider shopping for a new policy at least once every six months. This will ensure you get all the discounts and can properly compare policies and coverages apples-to-apples. Working with an independent insurance broker or contacting various insurers directly will allow you to obtain quotations from them. Independent agencies contract with several auto insurance companies and can shop your policy for you. In some cases, agents can also help you avoid mistakes that could cost you money. This includes ensuring that you're paying the correct type of coverage, such as liability-only or comprehensive.

Ask for a Discount

With some factors, like age and location, unavoidably impacting the ways you can lower your auto insurance quote, taking advantage of any discounts you can is essential. But remember that the number of discounts offered doesn't necessarily correlate to lower premium prices.

Many insurers offer discounts for people who agree to raise their deductible, are good drivers, have taken a driver's ed course, or have been in an accident-free driving period. Many also offer discounts for bundling auto and homeowners or auto and renters policies.

Because many businesses consider your insurance score when establishing your rates, you may also be able to lower your auto insurance quote premium by taking actions to improve your credit. Maintaining low balances and making on-time bill payments will help you achieve this. Many insurers also offer loyalty benefits for customers who stay with them over the long term.

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