What makes affordable auto insurance companies for me?

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Things to Remember...

  • The rate you pay for insurance will depend on a number of factors including your age, the vehicle you drive, your driving record, your credit history, the company you choose and the insurance policy you are looking to buy
  • Your deductible is the amount of money you will have to pay before your insurance company begins paying for damages on your behalf
  • Coverage such as comprehensive and collision will help you protect your investment in the event you are in an accident that is considered your fault or are the victim of theft or vandalism
  • In order to make sure that you are getting all of the discounts you qualify for, ask the insurance company for a list of all of the discounts they offer or what you are eligible for

Getting affordable auto insurance can be tough. The rate you pay for insurance will depend on a number of factors including your age, the vehicle you drive, your driving record, your credit history, the company you choose and the insurance policy you are looking to buy.

There is little you can do about your current credit situation or traffic citations you’ve gotten in the past, but there are a few things you can do to make your auto insurance policy more affordable.

Make sure to use our free quote tool above to start shopping for the best rate for you today!

Increase Your Deductibles

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Your deductible is the amount of money you will have to pay before your insurance company begins paying for damages on your behalf.

In general, the more financial responsibility you take on, the less money you will pay out in insurance premiums, allowing you to get that high-risk auto insurance premium under control.

For instance, an insurance policy with $500 deductibles will generally cost you 1.5x to 2x more each month than a policy with $1000 deductibles.

Of course, if you have a lienholder on your car, you may be required to keep your deductibles at a specific level, but otherwise, you are free to assign whatever deductible level you are most comfortable with.

Drop Coverage You Don’t Need

Coverage such as comprehensive and collision will help you protect your investment in the event you are in an accident that is considered your fault or are the victim of theft or vandalism, however, these coverages are expensive.

In many cases, if the vehicle you drive has a low fair market value, you can wind up paying more than your vehicle in worth in insurance premiums in a very short period of time.

In cases where you are not required to have extra coverage or the value of your vehicle does not warrant the extra protection, you can significantly decrease the amount you pay each month in auto insurance premiums.

This also holds true for medical and roadside assistance coverage. If you have an existing health insurance policy, it may make sense to drop the medical coverage in your auto insurance policy in order to avoid having duplicate coverage.

It doesn’t make sense to pay for emergency roadside assistance in both your auto insurance policy as well as to an outside firm such as AAA. Avoid these mistakes when choosing your first auto insurance policy.

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Choose a Less Risky Vehicle

Part of the cost of owning a new vehicle resides in the amount it costs to insure it. Different vehicles will have different rates based on the insurance company’s risk profile for that vehicle.

Higher profile cars tend to be more expensive to insure based on their tendency to be stolen more often than lower profile cars and performance vehicles are often more expensive to insure because they tend to attract more aggressive drivers.

In order to keep your insurance premium as low as possible, choose a car that falls into the insurance company’s ideal of a less risky vehicle.

Choose Your Options Carefully

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Insurers often give discounts on insurance premiums to owners of vehicles with more safety features than they do to those who do not.

So, as you consider what options to add to your new vehicle, consider adding a few safety features to the mix.

These might add a few dollars to the sales price of your vehicle, but in most cases, you can recoup these dollars by reducing your monthly insurance costs.

Sometimes the safe option and more coverage give you the most profitable benefits in the long run.

Check for Discounts

All most all auto insurers offer discounts to their customers, but few divulge them all.

In order to make sure that you are getting all of the discounts you qualify for, ask the insurance company for a list of all of the discounts they offer or what you are eligible for.

Also, it can be beneficial to work through an insurance agent in order to get the discounts you qualify for.

For instance, if you are over the age of 55, you may qualify for an experienced driver discount. Longtime customers and customers who have had no moving violations in three years or more can also qualify for lesser-known discounts.

Keep Your Vehicle Insurance Policy with the Same Company As Your Other Policies

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Although different auto insurance companies do things differently, most insurance companies will cut you a break on your auto insurance premiums if you have multiple policies with them like homeowners, commercial or other policies.

Keep this in mind as you get quotes for your next insurance policy and make sure you let your existing insurance company know that you have policies with them already. This should net you a nice little discount.

Finding affordable car insurance can be tough, but knowing where to look and how to ask for discounts can make all the difference in the world when it comes to what you will end up paying each month.

Make sure that for every year you renew your policy with the same company or sign up with a new company.

Enter your ZIP code into our FREE auto insurance comparison tool to get free quotes now! Get multiple quotes from different companies and review your policy for any money-saving changes you can make.

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