Posted on: 27 May 2019
Auto insurance is mandatory throughout most the US in order to be able to be on the road. Even if you live in New Hampshire or Virginia, the two states where auto insurance is not a requirement, you will still want to ensure that you have adequate coverage. Not having auto insurance or not having enough coverage, can mean financial disaster. However, it's important to also have a policy that you can afford. If you are looking to save on your auto insurance policy, here are three ways that you can save.
Whether you are looking for auto insurance for the first time or already have coverage, shopping around can save you a lot of money. Getting quotes from different insurance companies is easier than ever. The process can be completed within minutes online. Experts recommend shopping around and looking at different policies at least once per year. It's also a good idea to look at policies after certain life events. You may want to look at other policies after getting married, moving to a new city, adding another driver to your policy, or being in an accident.
Improve Your Credit Score
One thing that many drivers are unaware of is that most insurance companies take your credit score into account when determining your rates. In fact, going up a credit score tier can save you up to 17 percent on your premiums. A few ways that you can make this better include paying down debt, consolidating your debt, and also correcting any errors on your credit report. A few small changes to your financial life can make a big difference when it comes to how much you pay for your auto insurance.
If you have other types of insurance policies, bundling them with your auto insurance can mean savings. Typically when you bundle two or more policies, your insurance company will off discounts between 5 and 25 percent. It can also make paying easier since everything will be on the same bill and your information will be the same for each policy. Many find that they see significant savings when they bundle both their home and auto insurance. If you already have homeowner's insurance, you may want to see if your current insurance company offers auto insurance as well.
When it comes to saving on auto insurance, there are a few options. Shopping around can mean big savings and is something that you should do at least once per year. Improving your credit score can also make a big difference as can bundling your insurance policies.Share