Take Five Minutes and Save On Your Car Insurance

Five minutes. That is what it takes to save money on your car insurance. If you do not believe this, check out the list below of quick ways to save on your car insurance premiums.

  1. Evaluate your coverage with your agent. At least once every two years, you should talk to your current insurance agent and see if you may be missing out on discounts for which you are eligible, or carrying unnecessary coverage, such as roadside assistance which you do not need. You may have your deductibles set too low, or you may have duplicate coverage you do not need. A good insurance evaluation every two years helps you and your agent to understand your life circumstances as they change and choose the right coverage based on these factors.
  2. Raise your deductibles.You can often perform this action online through your account management features on your insurance’s web page. In the alternative, you can visit your agent and ask for your deductibles to be raised. How does raising your deductibles help? Here is an example.Suppose you currently have the lowest possible deductible, $250, on your liability, comprehensive, and collision coverage policies. This was perfect when you were young and did not have the cash to meet financial obligations in the event of an accident for which you are at fault. Now, however, you have managed to save some money, and could easily pay a $1000 deductible if you caused an accident. By raising your deductible from $250 to $1000, you may cut your insurance premiums in half! This means that if you were paying $1000 per year for coverage, you now have an additional $500 per year to go into your “deductible fund” to pay for any needed repairs to your car.Of course, you do not want to raise your deductibles until you have a “nest egg” in at least the amount of the new deductible, in case you are called on to pay for repairs.
  3. Get an online quote. Through this website, you can easily get quotes from several top companies which will show you quickly if you are paying too much for your car insurance. Be sure to compare apples to apples – in other words, be sure that your coverage is the same for each quote. However, you may be pleasantly surprised to find that exactly the same coverage costs far less with another company than the one you are currently using. If this is the case, switching makes sense. You can often save hundreds of dollars per year just by completing a quick, online form for quotes from various insurance companies.

These are only a few of the ways you can save money on car insurance, but they each take only a few minutes to accomplish. It makes sense to review your options and see if a bit of time investment can save you significant money. Five minutes today might save you hundreds of dollars this year!