Three No-Cost Ways to Lower Your Car Insurance Premium

When it comes to thinking of ways to lower the rate that you pay for your car insurance, there are a variety of options at your disposal. Several of these ideas have an up-front cost, such as having an anti-theft system installed or signing up for a defensive driving school. While the money you save will eclipse your initial investment over time, these options might not be feasible if you're on a tight budget. If this is the case, don't give up on your goal of lowering your car insurance. Call your agent to discuss your options and you won't have to spend a dime to experience some savings.

Policy Bundling

Putting multiple insured items together on the same policy is something your insurance company will see as favorable and, as a result, will offer you a lower car insurance rate. Talk to your agent about putting your homeowners or renters insurance on your existing car insurance policy. Even combining your life or health insurance with your car insurance, depending on the scope of your insurance provider, can translate into further savings. If you have another driver in your home who is insured separately, discuss the cost benefits of adding his or her car insurance policy to yours. The result of any degree of bundling is more money in your pocket.

Deductible Increase

Increasing the amount of your car insurance deductible is something that will cost more at the time of a claim but save you money by lowering your premium. As an extra perk, there's no up-front cost to making this change. Think about the disposal income you have at any given time and evaluate whether it's possible for you to increase your deductible. Insurance companies will give a price break to clients who make this change, so discuss raising this amount from its current level with your insurance agent. This change is something that doesn't affect your day-to-day life and is only something you'll have to think about when making a claim.

Loyalty Discount

In today's age of technology, it requires minimal effort for an insurance client to obtain a quote online and switch his or her insurance provider. As a way of recognizing clients who don't change companies, many insurance providers like Keller & Associates Insurance Brokers give a loyalty discount to long-time clients. The length threshold to receive this discount varies from company to company, but asking your agent about this information can be beneficial. Even if you're not eligible to receive it immediately, it can be satisfying knowing that the discount will apply in a year or two.