It’s a new year, and it’s time to get your finances in order. Why not start out by saving some money on your auto insurance? The average consumer saves up to $301 on a six-month policy after shopping around and purchasing a new auto insurance policy from one of the top companies at InsWeb.∗Here are InsWeb’s top five ways save money on your auto insurance.
1. Shopping Around
This is the #1 way of saving money on insurance. Are you sure you're getting the best deal possible with your current insurance company? Many people find it easy to stay with the same company for years, but fail to realize they have the potential to save hundreds of dollars each year by comparing quotes from multiple companies. You should shop around at least twice a year to see if you are getting the best deal possible.
2. Multi-Policy Insurance
Various insurance companies offer various discounts if you insure more than one vehicle on a single policy, or if you have your home insured with the same company that insures your vehicle(s).
3. The Higher the Deductible, the Less $ Out of your Pocket?
Yes, it's true; the higher your deductible is, the lower your premium. However, you must be careful not to get in accidents with a higher deductible, as this is the amount that will come out of your pocket before your insurance company starts paying for the rest of the covered damage to your vehicle.
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