{"id":1511,"date":"2023-10-23T04:53:50","date_gmt":"2023-10-23T04:53:50","guid":{"rendered":"https:\/\/businessyield.com\/ins\/?p=1511"},"modified":"2023-10-23T04:53:53","modified_gmt":"2023-10-23T04:53:53","slug":"how-to-save-money-car-insurance","status":"publish","type":"post","link":"https:\/\/businessyield.com\/ins\/car-insurance\/how-to-save-money-car-insurance\/","title":{"rendered":"HOW TO SAVE MONEY CAR INSURANCE: Proven Tips & Steps"},"content":{"rendered":"

You can save money on car insurance by learning what factors influence premiums and using some helpful shopping strategies. It provides financial security while driving. But the price of that security is too high, and we know you feel the same way. Car insurance premiums keep going up, but if you are sick of shelling out so much money every month, here are some ways to lower your rates and save up money in your budget.<\/p>

Save Money on Car Insurance<\/span><\/h2>

Car insurance is expensive, and the amount a driver pays each year for coverage can vary widely based on factors such as the driver’s age, gender, marital status, driving record, and even the weather.<\/p>

According to data from Bankrate.com, full-coverage auto insurance costs about $2,014 annually and liability-only insurance costs about $622. The cost of auto insurance, however, varies greatly from one person to the next, depending on several rating factors.\u00a0<\/p>

Reasons Why Your Car Insurance Might Go Up<\/span><\/h2>

Knowing which aspects of your car insurance premium are within your control will help you negotiate better rates and save money. The following are factors that affect car insurance premiums:<\/p>

#1. Location<\/span><\/h3>

There is a wide range of auto insurance rates from one state and even one city to the next. City dwellers can expect to pay higher monthly payments for auto insurance than their rural counterparts.<\/p>

#2. Age<\/span><\/h3>

Insurance companies typically charge more to cover the risks associated with insuring young drivers<\/a> and senior drivers. Insurance rates for new drivers are higher across the board, regardless of age.<\/p>

#3. Driving Record<\/span><\/h3>

Auto insurance premiums go up after an accident in which the policyholder was found at fault, after receiving traffic tickets, or after being convicted of driving under the influence (DUI) or driving while intoxicated (DWI).  <\/p>

#4. Credit History<\/span><\/h3>

Auto insurance premiums tend to be more affordable for drivers with higher credit scores because insurers see them as less of a risk. Rates can go up if you have a low credit score, with a few exceptions, including the states of California, Hawaii, Massachusetts, and Michigan<\/a>.<\/p>

#5. Vehicle Type<\/span><\/h3>

Those who drive newer cars and vehicles that cost a greater amount typically have higher insurance premiums to pay. This is because the cost of repairs following an accident is typically higher.<\/p>

#6. Deductible<\/span><\/h3>

In most cases, policyholders have the option of selecting their deductible amounts; however, choosing a low deductible typically results in a higher monthly premium.<\/p>

How to Save Money Car Insurance<\/span><\/h2>

Comparison shopping for auto insurance quotes is a tried and true method for finding the most affordable coverage. However, this is not the only way to guarantee a lower interest rate. You can save money on car insurance without sacrificing coverage in the following ways:<\/p>

#1. Compare Your Coverage to Your Needs<\/span><\/h3>

It is a good idea to start by reviewing your existing auto insurance policies to get an idea of your coverage and premiums. Insurance companies base their rates in large part on the kinds and levels of protection they provide for your vehicle.<\/p>

A lot of car insurance plans include:<\/p>