Paying for auto insurance sucks, but it’s something we all have to have. If you’re looking for a cheaper auto insurance rate, you’ll need to do your homework and find out which insurance carriers provide the best discounts.
Here are some simple questions to ask when you’re doing your research and comparing prices:
• Do you offer a multiple car discount?
• Do you offer a discount for excellent driving records?
• Do you offer a good student discount (usually a 3.0 “B” average or better) ?
• Do you offer a discount for car safety features (automatic seat belts, air bigs, etc.) ?
• Do you offer a discount for anti-theft features (alarms, lo-jack, etc.) ?
• Do you offer a discount for taking a certified driver’s safety course?
Another way to save on your insurance premium is to choose a higher deductible. Although you’ll pay more when making claims, the amount you save on your premium in the long-term, may offset the difference.
Never toy with the idea of being uninsured. Although you may be a safe driver, accidents do happen, and your auto insurance will relieve you of the financial and legal burdens you may face. Medical and auto repair bills are not cheap by any means.
I pay roughly $2k a year for insurance on my 2006 BMW M3. Having a multiple car discount, good driving record and anti-theft features helped a lot. What are you paying?