Perhaps it’s a little unfair to begin with such an obvious point but every state in the union requires you to be financially responsible when you drive a vehicle on a public road.
You must either prove you have the minimum liability cover mandated by your state or prove there’s enough money available to pay should there be an accident. This reflects two quite different policies. The first is that states always want drivers to take responsibility if they are at fault, That means always having enough money to pay the medical expenses of those you injure or repair the property you damage. The second is practical. No one wants to get into an accident but, if you are unlucky, you do not want to end up bankrupt because you cannot pay all the bills. Carrying insurance makes sense. So where do you go if you want to find cheap auto insurance ?
The first answer is equally annoying. You have to be prepared to change insurers. It’s easy to find cheaper rates than you already pay. The free auto insurance quotes from sites like this almost always find savings but, to realize those savings, you must be prepared to move to the insurer offering those rates. It’s a strange fact that only about 10% of drivers are prepared to switch insurers to save money. No matter how many quotes come in, no matter what the offers of cheap auto insurance, 90% of existing drivers refuse to leave their own insurers and deny themselves the savings. Since we cannot change this reality, here are some tips of easy steps to saving some money.
1. Make sure you have all the discounts
Even though you will save more by switching, you can save significant amounts of money by talking to your insurer about discounts. If asked, many insurers give loyalty discounts, i.e. they reward you for not moving to another company. They should also reward you for staying safe, i.e not picking up any tickets and not having an accident. You should be rewarded for not making a claim and boosting the insurer’s profit. Go through every part of the current cover and ensure you have all the available discounts applied.
2. Consider raising your deductible
This is something you should do if you can afford to pay the minimum amount out of your own pocket should there be a claim.
3. Can you give more business to the insurer?
Insuring several vehicles and increasing the number of experienced drivers produces savings. Similarly placing both home and auto insurance with the same company earns discounts.
4. Reduce your coverage
If you drive an older vehicle and have paid off your auto loan, seriously consider dropping collision and comprehensive cover. You might be paying more in premiums than the vehicle is worth or the amount of the deductible may be the fair value should your vehicle be totaled.