How To Easily Save Money On Car Insurance
The cost of living continues increasing and unemployment at an all time high. So many people have bachelors and masters degrees, yet are left working at the jobs they had before going to school. This leaves you with more expenses and possibly less income as before. There are a number of things you can do to reduce your monthly expenses and to really see a difference; it’s going to take a little work.
How Young Drivers and Parents Can Begin Saving
Car insurance is one of the larger expenses that families face. This is especially true for families with driving teens. If you do have a driving teen, the best thing to do is insure them with liability only under an inexpensive vehicle. This can greatly reduce your current premium.
Whether you are a student, or a parent insuring students, always consider the good student discount. Most top rated insurance companies offer a discount to families with students who maintain a high G.P.A. This may work as a great bargaining chip for parents. “Sorry Johnny, we cannot afford to place you on our insurance policy unless you maintain a B average or above…” This can reduce the price to insure your teen by up to 20%
Save More by Shopping Around
Another way you can further reduce your monthly expense is by shopping around for a new auto insurance provider. The insurance company you’re with currently may be the one you want to stay with, but how can you be sure without comparing both their coverage offer and cost to other insurance companies? There are literally hundreds of companies out there offering great insurance products and services. It never hurts to shop around. I personally shop once a year and find the process of changing insurance companies to be simple. Sometimes local companies will send out a form on your behalf to cancel your current policy on the date your new policy goes into effect.
Save By Shopping at the Right Time
Something else to consider is when to shop. Never wait until the day your policy renews to go look for coverage. Also, never lapse a policy because you intend on replacing it with a new one. Always maintain continuous coverage, this will help you keep your rates low. The best time to begin shopping is 2-3 weeks before your current policy expiration date. You can then arrange your new coverage to go into affect the exact time your current policy expires.
Save By Maintaining Current Coverage
When your quote request is sent into various companies they take a number of things into consideration. One thing they pay special attention to is your current insurance status. They want to know how long you have maintained current coverage and how much coverage you currently have. Having more insurance actually works in your favor. Statistics have proven that shoppers with more coverage are less likely to ever file a claim.
There are also a number of other ways you can save on car insurance. Learn a few more proven insurance saving strategies; here are some more tips on how to get cheap car insurance rates.