Insurers face challenges in ensuring adequate rates while navigating regulatory restrictions and competition. As a consumer, it’s essential to be knowledgeable about these factors and consider strategies for reducing expenses without sacrificing coverage quality.
Auto insurance is an ongoing and nonnegotiable expense for drivers. The following are proven ways to help reduce these costs without compromising on necessary coverage:
- 1 Research discounts. Many insurance companies offer discounts you may not be aware of. Your agent can help identify discounts that may apply to your situation.
- 2 Embrace safe driving programs. Numerous insurance companies reward safe driving. By joining these programs, your premium may align more closely with your actual driving habits.
- 3 Increase your deductible. Talk with your agent to understand how much a higher deductible may lower your premiums.
- 4 Consider usage-based insurance. Usage-based insurance (UBI) tailors your premium based on your driving patterns. UBI could offer substantial savings if you drive infrequently or have safe driving habits.
- 5 Take a defensive driving course. Some insurers and states offer discounts for completing a defensive driving course.
- 6 Choose a car model that is cheaper to insure. Next time you’re in the market for a new car, talk with your agent to identify vehicles that are likely less expensive to insure.
- 7 Change your payment method. Choosing online payments, paperless billing and automatic payments can lead to discounts. Paying your annual premium in full, rather than monthly, can also result in savings.
Your local insurance experts at Deeley are here to help you navigate the changing insurance market. Reach out to us today to learn more about how we can help you find the auto policy that’s right for you. Call 410.213.5600.
