How Can I Lower My Car Insurance Premiums This Summer?

When getting a new car a lot of people focus on the cost of their car payments, and forget about the cost of insurance. Depending on a person’s circumstances, that insurance payment can be way higher than expected. Understandably, that has led to a lot of people asking their insurers how they can get that car insurance payment down.

While it’s impossible to eliminate that payment altogether, there are a few tried and true methods of bringing down the cost of your car insurance. Let’s take a closer look at some of our favorites.

Pay Everything
Most car insurance policies last for six months before they get renegotiated. The monthly payment on a six-month policy is a sixth of your policy total. However, if you pay all six months upfront insurers will usually give you a pretty sizeable discount on the total cost of your policy. Yes, it’s more money upfront, but if you can afford it it guarantees that you save money in the long run.

Bundle
If you are looking for a car insurance policy then you are probably in the market for some other insurance policies as well. A great and easy way to save some money on all of them is to bundle as many of those policies together as you can. Bundling will allow you to pay just one bill a month, and discounts can get all the up to around 20% depending on which policies you group together.

Deductibles
Of course, the tried and true method of selecting a higher deductible plan will cause your monthly payments to go down. However, this is a bit of a gamble because if you do have to file a claim that deductible is money that you won’t get back. It’s a high risk, high reward scenario and is usually only advisable if you really need that monthly premium down.

Remember, you need to make sure you always have enough cash on hand to cover whatever your deductible if you are going to go this route.

Usage
Many insurers offer a type of car insurance that is known as “usage based”. Usage-based insurance is a great option for people who don’t actually drive that much. After all, the less you drive, the lower your chances of getting into an accident. It only makes sense that you would pay less for insurance than someone is in there car for hours every day.

If you live in the United States, and you want to drive a car than you simply must have car insurance. It’s important to understand that car insurance doesn’t have to be a major financial burden if you take the time to find the right policy for your lifestyle and your budget.

To learn more about your current policy, or to inquire about a new one, we encourage you to visit www.tgsinsurance.com.

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