5 Expert Ways of Saving on Auto Insurance

In the modern era of the internet age, saving money on products and services has become a field of study in its own right.  It is a fine mixture of art and science.  Here are some of the advanced techniques people can use to save on auto insurance, from the experts.

Compare Medical Coverage

Every auto insurance policy includes a section on medical coverage, which pays for any medical expenses that are caused by an automotive collision.  Whether one actually needs this coverage is a case-by-case question.  If a person already has solid medical insurance, then declining this optional coverage can help people save a few pounds each month.  When considering medical coverage, however, drivers should only decline coverage that solely covers them.  They should still pay for coverage of passengers’ medical costs, since passengers might not have good health insurance.

Review Annually

People who enrol in automatic renewal programs can subject themselves to surprise hikes in rates.  When a policy is automatically renewed, premiums might increase when it is renewed.  Although insurance companies must notify policy holders of these changes, these notifications are easy to overlook.  Rather than renewing a policy automatically, taking time to review it annually (at least) will keep drivers informed.

Reduce Debt

Paying off debt saves people money on interest.  It also happens to be a good way of improving one’s credit, which is a factor considered by insurance companies.  People with good credit get the lowest possible premiums.  Thus, reducing one’s debt can indirectly help people save on auto insurance.

Rely on Public Transit

Drivers who drive less than the national average might be eligible for a low-mileage discount.  But, most people have trouble qualifying for this discount.  The easiest way to reduce one’s mileage is to commute less.  A few people can work from home; however, this is not a practical option for most people.  Many, though, can use public transportation to commute, thus reducing the distance they drive each week.  In some cases, the discount might even pay for the public transportation.

Consider Excluding a Driver

In a few cases, voluntarily excluding a driver can significantly reduce a family’s auto insurance costs.  Drivers can check with their insurance provider to see if it is allowed in their area.  Even when it is possible, this only benefits families that have a high-risk driver who does not drive.  If excluded, a driver will not be insured when driving.  In other words, the excluded driver cannot drive any vehicle.  However, the family also does not need to pay for that driver’s insurance.  Most of the customers that save money this way have a teenager who does not want to drive.

These are some of the most advanced ways to save money on auto insurance.  Anyone can find a quote online or call an insurance company, but understanding how to ask for extra discounts require in-depth knowledge of how auto insurance prices are figured.

Ed Brohan writes for Cheap Car Insurance, which helps people get car insurance quotes online.

 

 

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