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8 Ways to Reduce Your Car Insurance Rates

Reduce Your Car Insurance

Have you found your car insurance rates skyrocketing over the last few years? Whether you’re accident-prone, or simply finding yourself unlucky in your search for reasonable rates, there are ways to actively improve and reduce your car insurance rates. Doing so can take some effort and know-how, but as your bank account becomes heavier, you’ll be glad you made the steps to lower your rates. 

Unfortunately, many people resign themselves to the burden of paying out the roof for insurance month after month, but there are options available to you! To help you on this journey, here are eight ways to reduce your car insurance rates in 2022: 

01. Boost Your Credit Score

Knowing how to boost your credit score can score you many amazing benefits in life. Car insurance is one of these and will help you save that much more money month-to-month as a result. Improving your credit score will almost certainly lower your base rates, and may even help you unlock additional cost-saving benefits on your insurance plan as well. After all, since we all need car insurance when driving, we may as well get the lowest rates that are humanly possible. 

02. Look Into Low-Mileage Discounts

A little-known fact is that insurance providers will offer discounts to customers based on how often, and where, they drive. If you know you only get on the road occasionally, let your insurance agent know and they may score you a low-mileage discount. If you take public transportation a lot, this can provide another route to securing this useful, premium-lowering discount, so be as communicative with your insurance agent as possible. 

03. Download a Performance Tracking App

Many insurance providers will give you a hefty discount if you download an app that actively tracks your driving performance. As they are given that extra assurance that you’re constantly driving safely, and not using your phone constantly while behind the wheel, they will allow you to gain larger discounts on your insurance premiums. Additionally, this will give you that much extra motivation to stay as safe as possible while driving. 

04. Bundle Your Insurance Needs

Sometimes your car insurance can be lowered by adding other types of insurance to your life through the same provider as your car insurance. Bundling is one of the most surefire ways to save some money and is a route that’s available for nearly everyone (even if your credit is not as strong as you’d like it to be). Additionally, this can help you gain discounts on the other insurance packages you’re bundling with your car insurance as well. 

05. Take a Defensive Driving Course

Defensive driving courses can help you perfect your driving skills and habits in a way that will drastically lower your chances of getting in an accident. Not only will this lack of accidents save you money, but many insurance providers will actually both pay you to take these courses and give you a discount on your premiums once you’ve taken them. With such a win-win situation, you have no excuse not to enroll in a defensive driving course sometime this year. In the case you find yourself in an accident that is not your fault, contact the best auto accident attorney Chicago has to offer. 

06. Pay For Your Insurance in Advance 

In addition to bundling, there are a fair amount of insurance providers that will give you a discount if you pay for your insurance in a bulk amount, instead of on a month-to-month basis. While not everyone can afford to do this, those that can should seriously consider this cost-cutting measure. 

07. Get a Vehicle that’s Cheaper to Insure 

Sometimes it’s the actual type (or color) of the vehicle that you’re driving that’s keeping your insurance rates sky-high. When this occurs, it may be time to find a vehicle that will not cost you an arm and a leg to keep effectively insured. If you’re worried that your current vehicle is causing your high insurance rates, call your insurer and speak to an agent about your options. 

08. Consider Switching Your Coverage

If all else fails, it may be time to change up your insurance provider. Many providers will jump at the chance to poach a customer from a competing insurer, so be sure to mention that you’re looking to find a cheaper alternative to your current provider when seeking out the coverage. Be sure to emphasize your dedication to safe driving to unlock additional savings when switching providers. 

Unlock Low Insurance Rates Now

High insurance rates can be an absolute bummer, especially if you’re already finding your monthly budget right. But with these eight tips, you can begin the process of pushing your rates down as low as humanly possible. With any luck, you’ll free up money that will help significantly improve your quality of life.

Hi, I'm Michael, a research writer with expertise in technology, education, business, finance, insurance, real estate, and legal insights. My goal is to share the newest updates and trends from these industries with you.

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