Save Money on Car Insurance Without Changing Carriers
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Save Money on Car Insurance Without Changing Carriers

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What if you like the service you currently receive, but just want to pay a little less?

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You may be able to save on car insurance in 15 minutes, or even in seven minutes, if you are willing to change insurance companies. What if you like the service you currently receive, but just want to pay a little less? There seems to be an excuse every renewal period as to why your premium went up a few dollars a month. For the frugal-minded, like myself, I think about how those few dollars would be better left in my favorite high-yield savings account. There are ways you can combat those renewal increases without changing your current coverage.

Get a Quote Online
Pretend you are a new customer and get an online quote at your current carrier’s website. Compare the quote with your renewal rate. I filled out their questionnaire and received a quote reference number with a lower rate. With that reference number, I called my carrier and asked why the quote was significantly lower than my renewal rate. If your carrier doesn’t have the disclaimer “only for new customers” associated with the online quote, they should give you that lower rate.

Telecommuting Can Cut Costs
If you drive your car less than average, you should get a break on your rate. For example, I work remotely one day a week. Since my yearly mileage decreased, my carrier decreased my rate.

Check Your Discounts Every Renewal Period
Don’t assume your car insurance company has applied all discounts to your account. It is your responsibility to ensure all applicable discounts are applied. Every renewal period, give your insurance carrier a list of all your memberships. Both my alumni association and professional organization provides discounts with my carrier. I make sure if I can only have one discount, they apply the larger of the two.

Get Rewards for a Clean record
Every car insurance company has some sort of good driver discount. Every year of no claims, you should be rewarded. Make sure they apply that discount every renewal period.

Use One Carrier
You need insurance for your car and house or apartment. Why not bundle? I get a discount just by having multiple items covered by the same company. They want your business, so negotiate a great rate for all your insurance needs.

Pay Up and Save
If you had cash to buy a car, you can negotiate a much better deal than the sticker price. Car insurance is the same. When you pay monthly, you are paying a service charge to process each payment. Save that money and pay yearly or every six months.

I manage to save hundreds of dollars every renewal period. A great company will want to keep you. If none of these methods work for your car insurance carrier, it may be time to save by switching.

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