According to a recent study, the average annual cost of car insurance paid in the United States was $907.38, and $1,388 in the state of Nevada, in 2014. With the expectation these costs will continue to rise in years to come, here are some tips on how to save money on your auto insurance policy.
When possible, try to have all of your insurance policies through one carrier. Most carries offer fairly large multi-line discounts, and the more policies you have with them, the bigger the discount!
Insuring all of your vehicles through one carrier can yield great multi-car discounts
Stick with a carrier; don’t hop around every renewal date
Several carriers offer loyalty discounts. The longer you are with them, the larger the discount. Shopping around for the cheapest coverage every renewal can actual cost you more in the long run.
When buying a new or new to you car, find out the insurance costs first
There are many factors that go into your insurance premium cost. Older cars are generally less expensive to insure. However, sometimes newer cars may be less expensive or close to the same cost as an older car to insure. Reasons for this are all of the new safety features included on newer cars. So be sure to get a quote on the auto insurance before you buy a car!
Low Mileage Discount
Many insurance carriers offer low mileage discounts. Check with your carrier to see if you qualify.
Good Driver Discount
The most obvious discount is the good driver discount. The longer you go without an accident or ticket, the larger the discount.
If you have recently taken a drivers safety course, inform your insurance carrier as you may qualify for an additional discount.
Your credit is often another factor in your insurance premium. The better your credit is the better chance you have at a lower premium.
Good Student Discount
If you have a driver on your policy that is in school and gets good grades, be sure to ask your insurance carrier about a Good Student Discount
Safe Driving Monitoring Device
This is a new option for drivers that have been adopted by many insurance carriers. Check with your insurance carrier to see if this is an option for you.
Be sure to have a comprehensive insurance review annually to make sure your coverage is up-to-date on current values and you are identifying all possible ways to save money on your policies. Every little bit helps!