You Don’t Need to Spend That Much on an Auto Insurance Policy — Here’s What to Do

Car insurance form and key

Insurance allows businesses and individuals to protect themselves and their properties from any risk. Insurers issue a policy on nearly any item, asset, or individual for a seemingly low monthly or annual payment to pool that risk along with other policies it collects a premium on and issues

Although a simple concept, insurance comes in an array of options for clients to consider before taking out a cover. Your monthly or annual payment is a fraction of the value of an insured item or asset, but premiums tend to vary across insurance providers.

Like with anything else, everyone would like to save as much as they can on an insurance coverage. Unfortunately, though, many people don’t know how to save on their auto insurance. The following are incredible tips to save a bunch of dollars on it.

1. Work with an insurance broker

One way to save on insurance policies is to work with insurance brokers in Raleigh, NC. These are experts that can help their clients find the best and cheapest auto policies in the market.

Insurance brokers also understand all the tricks needed to save on car insurance. Brokers can provide expert advice, compare quotes, meet insurance needs, and can serve as advocates when filing a claim.

2. Increase your insurance deductible

Your auto premiums and insurance deductibles are tied to each other. As such, your premium will probably decrease after raising the insurance deductible before your insurer pays the rest of the claim. Your premium on a comprehensive or collision insurance can drop by as much as 20% depending on the level of your insurance deductible.

3. Install a tracker

One reason the rates of auto insurance are higher in some places than others is due to theft prevalence. However, installing an anti-theft device will make your vehicle less of a theft target and lower your insurance rates. You can use a theft deterrent device or attach a hi-tech alarm system to the starter motor or fuel pump to reduce the risk of theft.

4. Maintain a clean driving record

One way to keep auto insurance costs down is to maintain a clean driving record. Of course, expect the rates to increase during renewal if you got into an accident at fault or have traffic tickets on your driving history. Experts recommend staying at home during poor road conditions, obeying traffic rules and signs, avoiding distracted driving, and driving safely.

5. Bundle your home and auto insurance

Man and agent discussing auto insurance

People who own a car and have rented or have their home can benefit from bundled auto and home insurance. Bundling insurance coverage will probably qualify a client for both auto and home insurance and save them up to 20% on their insurance coverage.

Buying a car is a financial milestone in anyone’s adult life. Therefore, you have to be careful with choosing a coverage that is right for you, let alone how much you spend on one. You can ask an experienced insurance broker to advise you on the best options to combine your policies.