Are you looking to save some money this year? One way you can save more money is to reduce the cost of your insurance premium. There are several ways to pay less to your insurer each month. Here are a few ideas:
Only Carry Liability Coverage on Older Vehicles
One of the best ways to reduce your insurance costs is to only have liability insurance coverage on older vehicles. This includes any spare cars you drive occasionally or a vehicle used primarily for work. Dropping the collision and comprehensive pay can save you quite a bit of money, especially if your vehicle is only worth a couple thousand dollars.
The thing to keep in mind is whether or not you have payments on the vehicle. If you are still financing the car, your insurance agency may not allow you to drop your coverage. Also, if you cannot afford to replace your inexpensive car using another payment, you may want to keep your full coverage until you have enough saved to replace the vehicle yourself.
Aim for the Safe Driver Discount
Many insurance companies will offer driver discounts to those who have an immaculate driving record. This is generally offered to anyone with no tickets or accidents on their record for a certain period of time, usually about three years. You also can not have made any claims for broken windshields or other comprehensive repairs.
Encourage Your Kids to Maintain their Good Grades
Of course you want to always encourage your children to study hard for their own well being. However, it can also help save you some money if the kids are of driving age. Some insurers will offer a discount on your child's coverage if they maintain a certain grade point average. Be prepared to provide some proof, including grade reports to the insurance company from time to time.
If you find that you are not driving as often as you once did, you may be able to get an insurance discount. Even if you still drive a lot, you may still be able to get a reduced driving discount by carpooling or taking public transportation a few days a week. Not only will you save money on your insurance costs, but also on fuel and car maintenance costs. If you want to be considered for this type of discount, you may have to install a device that tracks your mileage, or manually report the mileage to your insurer.
If you are looking to save some money on your insurance premium, look into the discounts offered by your insurer. Also, don't be afraid to shop around with other companies if your current carrier does not offer enough discounts. You may be able to find a less expensive policy altogether. Butler & Messier Insurance is a reputable auto insurance company in your area.