For many of us, purchasing car insurance can be a stressful experience due to our lack of knowledge in regards to insurance itself. It can be a complicated process, but if you educate yourself on your options, it doesn’t have to be. There are many small and big ways to save money on our car insurance out there that not everyone knows about.
Angela Gaspar, an assistant office manager at A to Z Insurance is a huge proponent of educating yourself on your insurance before you decide on a coverage plan.
“If you don’t educate yourself, you’re only throwing money away,” Gaspar siad.
Here are some steps that will help save you money on car insurance in the short and long run:
- If you are a first-time insurance buyer, and if you are able to be on your parents insurance for at least six months before purchasing your own (you would have to be 26 or younger), that is the best option. This is advantageous, for it will help you with your insurance score and history.
- When purchasing insurance, age makes a huge difference.
- When providing you a quote for your car insurance, insurance companies take in account a few things. These things include your credit score, your insurance score, driving history, and insurance history.
- Keep your policy. If you are thinking about dropping your policy, think again. If you keep building up on a standard policy, this will help save you money in the long run. Especially stray away from cancelling your insurance if you’re only planning to cancel it for a short time. This can be detrimental.
- Go paperless. This will save you some money upfront, and it’s environmentally conscious, so it’s a win-win for everyone.
- Take a Defensive Driving Course. The course only costs $14 and it is fully online. The course itself only lasts six hours (that you can complete on your own schedule), but the cost benefits will last you three years.
- If you also have homeowner insurance, this will also help save you money on car insurance.
As you are purchasing car insurance another important thing to be cognisant of is what exactly you are being covered for. For example, you may be tempted to purchase the cheapest possible plan, but that plan might not include what you actually want.
“The bare minimum doesn’t always cover what you need,” Gaspar said.
Due to this, rethink what insurance plan you actually want and need. If you have a newer car, you want a higher plan. Another thing you should remember when purchasing your car insurance is that when you’re looking at deductibles, you shouldn’t just take the cheapest option. If you take the cheapest deductible, you will be hurt even more when you get into a car accident, which is what insurance is for to begin with. If you get in a car accident with a low deductible, you will have to pay more money in the long run.
Purchasing car insurance can be a tricky road to maneuver, but these tips and tricks will make it easier for you and bring you more savings.
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