5 Ways to Save Money on Car Insurance

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

Laura Adams, MBA
5-minute read
Episode #308

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.

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About the Author

Laura Adams, MBA

Laura Adams received an MBA from the University of Florida. She's an award-winning personal finance author, speaker, and consumer advocate who is a frequent, trusted source for the national media. Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers is her newest title. Laura's previous book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love, was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show.