Saving money on your car insuranceCar insurance is completely necessary and is a legal requirement, so not paying it is simply not an option. If you are found driving without car insurance, you can be fined and receive points on your license. In some cases, you can be banned from driving for any amount of time. However, it is clear that car insurance can be particularly expensive for your and/or recently qualified drivers or for those who have a poor driving record. Here are some things you can do:
- Pick up the phone and call your insurance company to ask how much money you can save by raising the deductible on your auto collision insurance.
- Get to know the certain safety features on your car which may help you qualify for a discount on your insurance. If you have any of these, make them known to your insurance provider and they will apply the discount, saving you money.
- If you own a car which is older, consider about dropping collision and comprehensive coverage. Collision coverage is obligatory if you have a car loan. Be aware, however, that an older car will weigh the car’s book value against your collision premiums. If you are not aware, your car’s book value is what an insurance company would end up paying out to you if you were ever in a situation where your car was written off.