Due to the negative impact of Coronavirus on the economy, many people are searching for ways on how they can cut their spending. Car insurance can be one of the areas that take a lot of money out of your pockets. That’s why we’ve come up with this list of tips that hopefully can save you hundreds of dollars in the long run.
To make them more appealing and easy to digest, we’ve broken them down into the Q&A format.
Can You Turn to a New Insurance Provider Right Away?
Yes. It doesn’t matter if you just signed for a renewal or maybe two months ago. You can switch on whenever you want.
Isn’t It Always Better just to Stay with Your Insurance Company for a Long Time So You Can Get Their Discounts?
And apparently that’s not true, in fact, it’s kind of the opposite. If you’re someone that’s been with the same car insurance provider for let’s say 20-25 years, they may not grant you any discounts that you may want. For them, it’s a no brainer. You are already paying a fixed amount of money and you are not going anywhere. Some companies can even steadily increase prices for their premiums every single year.
So as you can see it’s not always the best choice to stick to the same car insurance provider. Brand loyalty doesn’t always work well in the care insurance business.
On the other hand, some car insurance providers out there can offer discounts for new clients, just to attract more people into their business. So benefit from shopping around and look for a discount. In this way, you can save hundreds of dollars in the long run. Compare the price and don’t pay overpriced rates for your premium.
How to Get the Best Prepaid Car Insurance Plan?
Prepaid car insurance can really save you hundreds of bucks in the long run. To make sure that you are going to benefit from it to the max, it may be a good idea to compare 3-4 providers and make a decision.
How long do your accidents and your tickets stay on your driving record as far as insurance is concerned?
It’s different from state to state. So if you’ve got anything like a bad driving record and it’s about to fall off, take advantage of it once that time has expired. That’s because that really does a number on your policy premium. And there’s no
point in overpaying if you don’t have to.
How often should you shop around for a new car insurance policy quote?
It’s good to do it pretty much every single time your current policy comes up for renewal. Make research and find out if there’s a better deal out there.
At What Age Do You Get Your First Discount?
If you are 25 years old you are eligible for a discount. So if you’re 24 and a half or less and you think your car insurance is a little bit expensive, definitely know that relief is on the way.