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Auto insurance is designed to protect you, your vehicle, and others from the unexpected. With a reliable policy in place, you can avoid having to pay substantial out-of-pocket costs if an accident occurs. As necessary as it is, however, most drivers wish they could save a little money without cutting corners on valuable coverage. The good news is there are ways to lower your monthly premiums. Here are several to consider.

How to Save Money on Auto Insurance Payments

1. Take Advantage of Discounts

Most providers offer a variety of discounts that can lower your premiums. These include installing anti-theft systems on your vehicle and rewarding teen drivers for good grades. Other incentives, such as passing an approved defensive driving course and loyalty for renewing each year, may help keep your payments affordable. Be sure to ask an agent about all the discounts you’re eligible for.

2. Stick With One Provider

auto insuranceIf you have all your insurance policies from one carrier, you may also be rewarded a percentage off your total premiums. Consider securing auto insurance coverage with the same company that provides you with homeowners, life, or motorcycle insurance. As you shop around, compare the costs of having separate policies with multiple providers versus having all of your policies with one provider.

3. Increase Your Deductible

Another way to lower your auto insurance costs is by raising your deductible. This is the out-of-pocket amount you pay before the insurance company picks up the remaining tab. If you can afford to do so, consider boosting your deductible, but be sure there’s enough of an emergency fund to cover what you’ll pay.

4. Maintain a Good Driving Record

Insurance providers strongly consider your driving record when determining premiums. If you have one free of speeding tickets, accidents, and other violations, you could be eligible for lower rates. The longer your maintain a clean driving record and don’t accumulate any points on your license, the cheaper the premiums.

 

For more than 40 years, MP Davis Insurance Agency in Randleman, NC, has served the Piedmont Triad area by offering affordable vehicle coverage. The independent firm will shop on your behalf for the best rates from a range of top auto insurance carriers. You can always count on personalized attention, quality customer service, and explanations in clear and transparent terms. Call (336) 498-7606 for a free, no-obligation quote. Visit the website to learn more about coverage options.

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