How to save on auto insurance

As prices soar on everything from toilet paper to toothpaste, finding savings where you can, is necessary. So, where do you start?

The first thing you can do is to look at your auto insurance. Are you getting the most savings you could be getting?

Savings Tip that Works for Everyone

Anyone who carries full coverage can save on auto insurance by having a higher deductible. A deductible is an amount you would pay before the insurance carrier kicks in in the event of a covered loss. While most carriers have their own set of discounts that you could qualify for. Having more skin in the game on your part can lower your overall insurance costs. 

You can still find savings on your auto insurance even if you don't carry full coverage. If you have a homeowners or renters policy, you could bundle the two for extra savings.

So what if you don't carry full coverage on your vehicle? Not to worry, there are still ways you can reduce your monthly payments.

Discounts anyone can take advantage of:

Paying your bills on time. Drivers with a great payment history or good credit rating may see lower rates than other drivers.

Use the same provider for all of your insurance needs. Often insurance companies can offer you discounts if you have existing policies. This is also the case for financial institutions that provide insurance.

Are there discounts you may be missing out on? Some insurance carriers offer special discounts for seniors, students, or employees of particular organizations. But you won't know unless you ask. Asking if you qualify for any additional discounts could mean considerable savings.

Shop multiple carriers. Just as with any major purchase, shopping around will ensure that you get the best deal possible.

And lastly...  

Be a safe driver. While you can't predict everything that will happen out on the roads, doing your part to reduce accidents and speeding tickets will keep your annual premiums low.