Reader’s Question:

We are reducing our family expenses and we just realized how much money our car insurance coverage is eating-up. Can we still get a low cost car insurance policy?

Soon

Edmond, OK

Definitely! It just takes a bit of legwork and know-how to get some much needed savings on your car insurance. Here are some great tips to get you started:

1. Rationalize Your Policy – Take-off those coverage items that aren’t really of use to you. A good example is Personal Injury Protection which you can opt to drop if you and your family is already covered by a reliable medical insurance policy.

2. Select a Higher Deductible – A little known trick in the book when it comes to reducing your premiums. As long as you don’t make your deductible impossibly expensive when you need to file a claim then you should be OK.

3. Pay Annually – Get to save as much as 20% on your annual car insurance bills by agreeing to setup a yearly payment scheme (if available). This is another smart way to save money on your coverage.

4. Discounts – This is a great way to get low cost car insurance. Some of the most common include discounts for: good driving history, defensive driving courses, safe cars, low-mileage, etc. Ask your insurer about other discount options.

5. Keep a Good Driving Record – Your driving history (as well as those who use your vehicle) has a big impact on how much rates you pay. Aim to avoid even minor driving tickets so you can get an affordable policy and keep it for years to come.

6. Comparison Shop Online – Sometimes an insurer can only help you with low rates so much, in that case it would be a good idea to know what offers are available elsewhere. Get a free quote on a car insurance comparison website and compare your options well.