You may be able to save money on your policy just by making a few small changes. Read on for tips on how to lower your premiums and get a good deal on auto insurance.
Review Your Coverage
Take a look at your policy and determine if you carry any unnecessary coverage. If you are, you can save a lot by dropping it. For example, if you have collision coverage on an older car, it may not be worth the cost of the premium. The value of your car might be less than the deductible you would have to pay if you made a claim.
Also, if you have a loan on your car, your lender likely requires you to carry collision and comprehensive coverage. Once the loan is paid off, you can drop this coverage for a cheaper one like liability insurance. But keep in mind that liability insurance only covers damage to other people and property, not your own vehicle.
If you're not sure what coverages you need, talk to your agent or insurer. They can help you determine what is required in your state and what coverages make sense for you based on the value of your car and your driving habits.
Take Advantage of Insurance Discounts
Many insurers offer discounts that can save you money on your auto insurance premium. Some standard discounts include:
Safe Driver Discount
This is usually given to drivers who have no accidents or violations on their record. Your insurer could see this as a lower risk and reward you with a lower premium.
Low Mileage Discount
If you don't drive much, you may be able to get a lower rate. The less you drive, the lower your chances of getting into an accident.
Multiple Policy Discount
If you have more than one type of insurance with the same company, you may be eligible for a discount. For example, you might get a break on your auto insurance if you also have homeowners insurance with the same company.
Anti-theft Device Discount
If you have an anti-theft device installed in your car, you may be able to get a lower rate. Devices like GPS tracking systems and alarms can deter thieves and help you get your car back if it's ever stolen. As such, cars with these devices are less likely to be stolen.
Speak with an agent or insurer such as Clover Insurance about what discounts are available and see if you qualify. You could save a significant amount of money just by taking advantage of the discounts that are available to you.
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