We all love to save money. Some download e-coupons, while others cut back on morning macchiatos or carpool to work. These are all good ideas, but there’s another way to save money without sacrificing you’re a guilty pleasure – reduce your car insurance premium. In many states, you can often save a few hundred dollars on auto insurance, especially if it’s been a while since you’ve gotten a quote. New Jersey insurance is no exception.
Independent insurance brokers, like me, work with companies that provide a combination of low rates, discounts and excellent claims services. Switching auto insurance providers isn’t the only way to save money, however, which is why I always recommend reviewing your car insurance policy annually, at the very least.
Here’s a top-seven list on ways you can cut costs on your auto insurance:
- Safe cars get savings – Certain safety features on your car can translate into insurance discounts. Car alarms, Airbags, and anti-lock brakes are just a few items that can net a nice savings on your auto insurance.
- Save when you drive less – Drivers who put fewer miles on their car year-over-year can often receive lower rates. Be prepared to provide odometer readings or service records to verify your annual mileage.
- Bundle up and save – Many insurance companies offer savings if you buy two or more types of coverage from them. Insurance brokers can help you identify these opportunities for discounts.
- Ask for specials – Many auto insurers also offer discounts for good drivers, multi-car discounts, and good student discounts. Never be afraid to ask!
- E-bills – Some car insurance providers offer cash savings when you choose to receive your bills electronically. In addition, often times, you can save money on installment fees when you sign up for auto-pay.
- Boost your deductible – If you are able negotiate a higher deductible in the case of a claim, you will also be able to lower your monthly premium. Just make sure you can afford to pay a higher deductible!
- There are many ways to lower your auto insurance rates when you take the time to find those discounts that apply to you.