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5 Ways to Save Money on Car Insurance

Money Girl has 5 savvy tips to pay less for car insurance without sacrificing your safety.

By
Laura Adams, MBA,
March 26, 2013
Episode #308

Page 3 of 3

Tip #4: Ask About Discounts

Insurance companies offer a variety of discounts, but they don’t always advertise them. So speak up and ask how you might qualify for a lower premium.

For instance, you typically get a significant discount for purchasing multiple polices with the same insurer, such as your auto and renter’s insurance, or having more than one car insured.

You’ll also get discounts for:

  • driving a car with safety features, like anti-lock brakes or airbags
  • having a good driving history with few or no accidents
  • being a student with a high grade point average
  • working in certain occupations, like medicine, education, or engineering
  • completing a defensive driving or accident prevention course
  • serving in the military

Tip #5: Shop Regularly

It’s important to shop most types of insurance policies on a regular basis, like once a year. So, if you’ve never shopped your auto insurance, or it’s been a while, don’t put it off any longer because you’re probably leaving money on the table.

After comparing quotes, you may find that your current insurance provider is giving you a great deal—but you won’t know until you shop at least several different companies.

The easiest way to shop is online, using a free site like insurancequotes.com or carinsurancequotes.com. They allow you to get multiple quotes at once from the nation’s top insurance providers and save a lot of time and hassle.

Shopping for car insurance probably isn’t something you look forward to doing each year. But since it helps many people cut their expenses, I promise that it’s well worth the effort.

More Articles and Resources You Might Like:

5 FAQs About Your Credit Score
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How to Make Decisions About Your Personal Finances
Credit Score Survival Kit – download this free video tutorial
Money Girl’s Smart Moves to Grow Rich – get the paperback or ebook today!

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Insurance image from Shutterstock

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