If it feels like your paycheck doesn’t quite get as much mileage as it used to, you’re not imagining things. Life in general is getting more and more costly by the minute. There was once a time when the only expenses people needed to worry about in order to survive were the essentials. Basically, room and board. These days, the majority of people are struggling to keep up with an increasingly high cost of living. Financial planning has become complicated by a laundry list of unavoidable bills. One of these bills in particular happens to be auto insurance, which can feel like a heavy burden considering that anyone who owns a vehicle has to insure it by law. While it does indeed hurt to part with your hard-earned dollars to pay for coverage, there are practical ways to soften the blow to your bank account. Here are four tips on how to save money on auto insurance:
1. Don’t just Pick the First Quote you Find:
Sometimes when people are shopping for auto insurance, they just want to get all the paperwork over and done with. This is the wrong approach because window shopping can lead you to tremendous discounts which cater to your individual needs. Make time to do the homework.
2. Choose the Right Car:
If you’re shopping for insurance as part of a new vehicle purchase, choose a car which is less risky to insure, if you have a choice that is. Sports cars for instance are always susceptible to costly policies. Unless you specifically want to take on the added costs, avoid buying high-end vehicles.
3. Opt to Pay Higher Deductibles:
Deductibles refer to the financial commitment a policy-holder agrees to pay out-of-pocket before insurance coverage kicks in to take care of any expenses associated with an accident. High deductibles may require individual policy holders to maintain substantial cash reserves, but, policies with high deductibles cost less overall than the ones with low deductibles.
4. Combine your Policies with a Single Insurer:
If you can find a company with a versatile selection of insurance products, take advantage of their choices. For example, using one insurer to simultaneously subscribe for Auto, Home, Motorcycle, etc. makes it possible to get significant markdowns in the overall cost.
Some people have a pessimistic view of insurance because it feels like a mandatory obligation which is rarely used. It’s important to remember however that there’s a reason why auto insurance is an obligation. Not only does investing in insurance secure your own safety, it also protects the many pedestrians and fellow drivers who share the roadways with you. It’s impossible to overstate how much of a difference good auto insurance can make in all of our lives. For more information, visit any of our offices or give us a call at 1-800-639-7654 to find out how Adriana’s Insurance Services can help you stay safe on the road. We got you covered!