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Saving Money: How to Lower Car Insurance 

Driving a car

In the event of an accident, car insurance can offer financial protection you otherwise wouldn’t have. But when you consider the fact that the averageAmerican pays about $330 more for auto insurance than necessary, it helps to know where to look for cost savings. That’s why today, we will share five ways for how to get lower car insurance. 

How to lower your car insurance five different ways

1. Increase your deductible

A car insurance deductible is an amount a driver is responsible for paying before repairs can be made after an at-fault accident. Your deductible amount can play a big role in how expensive your car insurance premium is, with lower deductibles raising the premium price and higher deductibles lowering it. If you have a low deductible and wiggle room in your budget to pay a higher deductible of $500, $1,000, or even $2,000 in the event you cause an accident, increasing your deductible may help reduce your premium. 

However, if it will cost a lot to repair your car in the event of an accident, it may not make sense to take such a high deductible, so you may want to look elsewhere for cost savings. 

2. Reduce your insurance limits

If you have a full coverage auto insurance policy, you may want to consider investigating what coverage amounts can be lowered. Each state has its own set of minimum insurance requirements, so even reducing coverage down to the “bare bones” or just less than your current limits could help save you money. 
Before lowering coverage limits, make sure the new limit you’re choosing can cover the cost of damage or liabilities you’ll be responsible for if an accident were to occur. For instance, it may be a good idea to keep enough liability insurance to cover what you could potentially lose in a lawsuit if you were to ever get into an at-fault accident rather than settling for the minimum requirements.

3. Shop around for better rates

It may seem like a daunting task to find the best coverage at a more affordable price on your, but comparing rates is one of the best ways to lower car insurance. Many drivers stay with inadequate policies to avoid the hassle and headache of searching for new car insurance. 
Luckily, Rate Retriever makes it easy to find cheaper car insurance. By answering a few questions about yourself and your car, we’ll match you with the car insurance providers that are likely to give you the best rates without compromising coverage limits or financial protection.

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4. Report changes to your driving habits

Your premiums are impacted by how often you drive. If you now work from home or reduced the amount you drive or where you drive (like if you moved and don’t need to drive as far as often as you used to), call your insurance company and let them know of these important changes. This could help reduce your insurance premium.

5. Ask about special discounts or bulk rates

Depending on your car insurance company, you may be able to get lower car insurance through special discounts like student or military discounts, good driver discounts, or bulk discounts for multiple drivers. You may also be able to bundle your home/renters insurance with your auto insurance for even more savings. If your current insurance company doesn’t offer these deals, consider changing insurance companies.

Lower your car insurance with Rate Retriever

At Rate Retriever, we’ve made it easy to compare and save on your car insurance. Combined with the five money-saving ideas above, you’ll be on your way to more affordable driving in no time.  

About Rate Retriever

At Rate Retriever, our mission is to make the way you shop for insurance transparent and fair through user-friendly tools that respect your privacy and deliver reliable, comprehensive results 

So we took everything we hated about comparing insurance quotes online – the spam, the long questionnaires, the limited choices, the inaccuracy of quote prices – and threw it out the window, favoring a short form that more accurately estimates what you’ll pay at each of the top insurance providers near you. 

Rate Retriever is an independent company that is not owned by an insurance provider, nor do we provide insurance ourselves. This independence allows us to be your free and impartial insurance research tool, helping you make the best decisions for your insurance needs.  

We may earn a commission when you click one of the links or call one of the providers listed on our site; however, we do not allow our partnerships to influence which information we provide. 

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