Bible Money Matters

Christian personal finance

Menu
    • About
    • Archives
    • Contact
    • Close
  • Making Money
      • Popular Articles

        • 50 Ways To Make Money: Maximizing, Creating And Increasing Your Income
        • 10 Weird And Unconventional Ways To Make Money
        • Making Money With A Blog (e-Book)
        • 10 Places To Sell Or Trade Your Unused (Or Broken) Electronics
        • Ways To Make Extra Money Series: 20 More Income Generating Ideas From Our Readers
        • Making Side Income Can Help Blunt The Impact Of Becoming A One Income Family
        • Earn Cash Back With Discover it® Credit Card
      • Recent Articles – Making Money

        • Best Sites Like Fiverr To Make Money As A Freelancer
        • 13 Of The Best Independent Contractor Jobs
        • 25 Of The Best Gig Economy Jobs
        • How To Make Money Blogging: Turn A Blog Into A Business
      • Categories

        • Making Money
        • Investing
        • Retirement
        • Jobs & Work LIfe
        • Money
        • Income
    • Close
  • Saving Money
      • Popular Articles

        • 50 Easy Ways To Save Money Every Month
        • 10 Weird And Unconventional Ways To Save Money
        • 10 Practical Ways To Save Money And Increase Your Net Worth
        • How To Save Money On Just About All Of Your Regular Monthly Bills
        • Ways To Watch TV Without Paying An Arm And A Leg For Cable TV
        • Save Money On Your Hospital Bill - Just By Asking
      • Recent Articles – Saving Money

        • How To Save $100k In 7 Practical Steps
        • Stairs App Review: Save And Invest To Earn 4-6% Interest
        • Honey Review: Save Money Automatically When You Shop Online
        • 9 Convincing Reasons Why You Need An Emergency Fund
      • Categories

        • Saving Money
        • Frugality
        • Planning
        • Finance
        • Saving For Retirement
        • Savings Accounts
    • Close
  • Banking
      • Best Rates For 2019

        • Best Credit Cards
        • Best Savings Accounts
        • Best Mortgage Rates
        • Best CD Rates
        • Best Brokerages
        • Free Credit Scores
      • Recent Reviews

        • TradeStation Review: Commission Free Stock And ETF Trades
        • Firstrade Review: Commission Free Trades on Stocks, Crypto, And Options
        • Cadre Real Estate Investing Review: Commercial Real Estate Investing
        • Axos Self Directed Trading Review: Invest, Trade Stocks For Free
      • Categories

        • Bank & Software Reviews
        • Investing
        • Credit
        • Banking
        • Mortgage
        • Insurance
        • Family Budget
    • Close
  • Recommended
  • Video
    • Close

How To Pay Less For Auto Insurance: Top 10 Tips

By John Frainee 5 Comments - The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited September 8, 2020.

Share1
Pin4
Tweet25
Share6
36 Shares

Auto insurance. If you drive, you’re required to have it. How can you pay less for auto insurance?

With so many companies and options for you to choose from, you might feel slightly overwhelmed (to say the least) when trying to lower your auto insurance.

Here are some of the best tips that will allow you to get some better deals when shopping for insurance.

Quick Navigation

  • How You Can Pay Less for Auto Insurance: Top 10 Tips
    • 1. Shop for auto insurance at least once a year.
    • 2. Raise your deductibles.
    • 3. Don’t pay monthly – pay semi-annually.
    • 4. Practice safe driving!
    • 5. Combine policies.
    • 6. Eliminate unnecessary coverage.
    • 7. Pay less when you drive less.
    • 8. Find safety gear discounts.
    • 9. Install a vehicle tracker device.
    • 10. Be a loyal customer once you have a great deal.

How You Can Pay Less for Auto Insurance: Top 10 Tips

Pay less for auto insurance

1. Shop for auto insurance at least once a year.

Times change, and so do insurance premiums. If you don’t regularly shop for auto insurance, you might be paying more than you should be. If you have an insurance agent that shops multiple companies, you can simply check with them to see if rates have changed and if there are any better deals out on the market. If you’re extra bold, you might check every six months for better deals. Yes, rates can change that quickly!

2. Raise your deductibles.

If you have the emergency fund to stomach higher costs if you’re in an accident (or if life happens and a tree falls on your vehicle), you might consider raising your deductibles. You’ll pay more if something unfortunate happens to your vehicle, but you’ll pay less on your insurance premiums.

If you have three to six months of expenses in an emergency fund, by all means raise your deductibles! Some have estimated that raising your deductible on your collision and comprehensive coverages from $200 to $1,000 can decrease your premiums by at least 40 percent!

3. Don’t pay monthly – pay semi-annually.

When you pay monthly for your auto insurance, you’re probably paying a fee for the privilege. Instead of paying extra money to not pay up front, try saving up money for when your six-month premium rolls around and pay it then. You’ll save loads of cash!

While you’re at it, use your cash back debit card to save even more money!

4. Practice safe driving!

This one seems like a no-brainer, but do you really do it? Do you really:

  • Go the speed limit?
  • Wear your seatbelt?
  • Use your blinkers every time?
  • Look over your shoulder when you make turns?
  • Check your exterior lights every once in awhile to see if they’re operating correctly?

Following safe driving protocols will help you avoid accidents and save you money on your insurance premiums. Some auto insurance companies look three to five years back in your driving history to see any accidents you might have had. Remember this next time you’re on the road!

5. Combine policies.

You may save money if you combine policies under the roof of one company. Do you need life or home insurance as well? Combine your policies and ask for a discount. Who knows how much you’ll save!

6. Eliminate unnecessary coverage.

Let’s say you have a car valued at $2,000. It’s not anything special, but you cover it with collision just in case you run into something and damage your car. Is that really a good idea? If you practice safe driving and are expecting to replace your car if it’s damaged anyway, why are you paying for the premium? On the other hand, you might find collision coverage a really good deal, and purchase it anyway.

Collision isn’t the only coverage you might consider unnecessary. How about roadside assistance? There might be other add-ons on your policy that you might want to remove. Be sure to look through your policy’s fine print to ensure you have the right amount of coverage for you.

7. Pay less when you drive less.

Some auto insurance companies allow you to pay less when you’re driving your vehicle less. Maybe you’re working from home now or retired and no longer need regular coverage. Check with your insurance company and find out if they can offer you a better deal.

8. Find safety gear discounts.

You might qualify for a discount if you have air bags, antilock brakes, automatic seat belts, etc. It also helps to have an approved alarm system or other anti-theft devices – this can save you on your comprehensive coverage.

9. Install a vehicle tracker device.

Some insurance companies such as Progressive offer a device you can install in your car to track miles traveled, time of day traveled, and speed. This data is uploaded to the insurance company for analysis after which they offer you a discount on your insurance based on your driving habits. For those of you who aren’t scared to share this part of your life with your insurance company, it’s a win-win!

10. Be a loyal customer once you have a great deal.

If you already have a great deal, it might pay off to stick with the same company for a long while. Insurance companies end up charging less when you’ve been a long time customer, so try not to switch companies without a really good reason!

That’s how you pay less for auto insurance in a nutshell! How much money will you save? Take these tips and implement them to find out, you’ll be glad you did.

How do you save money on auto insurance? Leave a comment below!

Related Posts

  • How To Pay Less When You Need Counseling

    While counseling may be expensive, with some research and perseverance you can find affordable counseling and get the help you or your family members need.

  • Are You Making These 3 Common Insurance Mistakes?

    Even if you think that you are set with insurance, you may want to look over your policies and see if you are making these…

  • Pay less for auto insurance
    Insurance: Save Money By Comparing Rates

    This past January I learned a costly lesson when it comes to insurance rates. There are dangers to not continually checking your rates to make…

Share1
Pin4
Tweet25
Share6
36 Shares
Last Edited: 8th September 2020 The content of biblemoneymatters.com is for general information purposes only and does not constitute professional advice. Visitors to biblemoneymatters.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.

This article is about: Automobiles, Insurance

About John Frainee

John Frainee is a personal finance writer at TheChristianDollar.com. His goal is to provide biblical financial principles that encourage people to live healthier lives. Beyond personal finance, John enjoys spending time with his wife and two crazy cats, playing a competitive game of Monopoly, and reading just about anything he can get his hands on. You can also find him on Twitter and Facebook.

Comments

    Share Your Thoughts: Cancel reply

  1. Modest Money says

    I recently raised my deductible to save a decent amount of money off of my premiums. As for paying annually instead of monthly, I think you need to take into account what percentage they are charging for financing and what kind of percentage you get on other investments or by paying off other debts. In my case the insurance financing rate was low enough that I’d rather keep my money somewhere else. Also regarding #10, while a company may reward loyalty, it might be worth occasionally shopping around to ensure you really are getting the best rate.

    Reply
  2. WorkSaveLive says

    Eliminating unnecessary coverage and shopping rates annually are extremely important. I run into people that have been with the same company for 20+ years and never shop rates. Low and behold they’re getting RIPPED a new one.

    Reply
  3. Peter Anderson says

    Before I started shopping for car insurance every year I was overpaying to the tune of $1100 a year. Of course I’ve remedied that situation, switched providers, and also only paid for coverage that I needed now. If only I could go back in time, however, and switch before I wasted so much money. Thankfully I wised up when I did.

    Reply
  4. Jenna, Adaptu Community Manager says

    Get good grades in high school and college. Most places will keep good student discounts until your 25.

    Reply
  5. Tyler S. says

    Driving safely is definitely the best way to save! :) Some companies will reward you for being loyal, others for switching from a top competitor. Do some research and find which way works best for you!

    Reply
Previous Post: Blogging Can Be A Great Side Income Or Full Time Job: How To Get Started
Next Post: Happy Easter! Why Did Jesus Fold The Napkin?
Discover Investment Platforms

Popular Posts

  • 21 Easy Ways To Earn Free Amazon Gift Cards
  • 10 Best Free Tax Filing Services And Software Online
  • 21 Apps That Pay You Real Money Fast
  • 17 TV Apps And Live TV Streaming Services To Watch TV Free
  • 30 Legit Online Jobs That Pay Well
  • 37 Easy Ways To Get Free Gift Cards
  • How To Get Free Stock
  • 40 Easy Ways To Get Free Money Fast
  • 21 Places To Read Free Books Online
  • 24 Legit Online Jobs
  • 17 Best Work From Home Jobs: A List Of Legit Online Jobs That Pay Well

Recent Posts

  • How To Save $100k In 7 Practical Steps
  • How to Save Money When Remodeling A Home
  • How To Hire A Contractor For Your Remodeling Project
  • Remembering 9/11 Years Later: Where Were You On That Fateful Day?
  • TradeStation Review: Commission Free Stock And ETF Trades
  • Firstrade Review: Commission Free Trades on Stocks, Crypto, And Options
  • Cadre Real Estate Investing Review: Commercial Real Estate Investing
  • Best Sites Like Fiverr To Make Money As A Freelancer
  • Axos Self Directed Trading Review: Invest, Trade Stocks For Free
  • 30 Quotes About Easter And Resurrection: He Is Risen!

Disclaimer

The information contained in BibleMoneyMatters.com is for general information or entertainment purposes only and does not constitute professional financial advice. Please contact an independent financial professional for advice regarding your specific situation.

In accordance with FTC guidelines, we state that we have a financial relationship with some of the companies mentioned in this website. This may include receiving access to free products and services for product and service reviews and giveaways.

Any references to third party products, rates, or websites are subject to change without notice. We do our best to maintain current information, but due to the rapidly changing environment, some information may have changed since it was published. Please do the appropriate research before participating in any third party offers.

Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates.

We respect your privacy: Privacy Policy.

Thanks for visiting!

Bible Money Matters - Seen On These Sites and more..
Bible Money Matters is a personal finance, entrepreneurship and investing community. Give more, save more and live more.

Copyright © 2023 · Bible Money Matters | Sitemap | Advertise | Privacy Policy