Your Auto Insurance Savings Checklist
Get the best coverage and the best rate!
Request an
Insurance Quote
Want to save money on your auto insurance?
It’s not as difficult as you think. Here are a few ways you can start saving money on your auto insurance premiums without sacrificing the coverage you need.
Compare costs before you buy.
The two important issues to consider when trying to reduce your auto insurance costs are safety and the possibility of theft. Take a little time to do your research before you buy your car. Insurance premiums are partly based on things like:
- The vehicle’s sticker price
- The cost to repair the vehicle
- The likelihood of theft
- The vehicle’s overall safety record
- If the vehicle has anti-theft devices installed
- The presence of anti-lock brakes
- Other injury- or theft-reducing features
You can learn more about car safety at the Insurance Institute for Highway Safety. Just enter the make and model in the handy search box to find your car’s rating. To learn more about which cars thieves target, check out the National Insurance Crime Bureau.
Consider going for a higher deductible.
Your insurance premiums aren’t the only expense to consider when trying to find discounts. Your deductible, or the out-of-pocket money you pay before you can utilize your insurance policy, can make a huge difference, too. Requesting a higher deductible could significantly lower your premiums, sometimes by as much as 40%. Consider raising the deductible to $500 or $1000 to reduce costs; just make sure you have that same amount available should you have to pay it.
Reduce your insurance coverage for older cars.
In general, the older your vehicle is, the less it’s worth. Unless your vehicle is a classic car, it might not be cost-effective for you to insure an older vehicle with collision or comprehensive coverage. If your car is worth less than 10 times the amount you pay for coverage, you can reduce your insurance rates by choosing the minimum liability coverage. To find out how much your vehicle is worth, you can look it up online at Kelley Blue Book or ask one of our agents at Wilson Insurance.
If you don’t drive much, you could qualify for low mileage discounts.
You can usually get a discount of 5-15% if you have low mileage. According to the U.S. Department of Transportation Federal Highway Administration, the average mileage per driver is 13,476 miles per year. So, if you drive less than that you could get this discount.
Save money with safe driver discounts.
What makes a safe driver? Insurance companies look at:
- Your driving record: Usually no accidents in the last three years means you’re a safe driver.
- Your age: If you’re over 50 you may be considered a safe driver because of driving experience.
- Your driving knowledge: Especially if you are young or have a young driver in the household, having taken a driver’s education course may qualify you for a safe driver discount.
Bundle your homeowners and auto insurance from the same insurer.
Everyone likes a loyal customer, so bundling your home and auto insurance can mean significant savings. Multi-policy discounts offer a few pros, too, like:
- Discounts of 5-25% over single policies
- Time savings because you can manage your policies from one place or with one agent
- A lower chance of being dropped if you do have to make an auto claim
Maintain a good credit rating score.
Earning and maintaining a good credit rating does more than just help you get great rates when you finance your car or home. It can also affect how much you pay for insurance. To get the best rates, monitor your credit scores on a regular basis and do your best to maintain good scores. Your credit scores can be monitored from all three of the major credit-rating agencies here:
Contact us today
If you’re ready to get the most discounts on your auto insurance, contact us today to speak with one of our agents. We’re ready to help you get the best auto insurance rates in North Carolina. Trust Wilson Insurance Services for your insurance needs!