How To Save Money On Car Insurance (8 Ways To Save $$$)

These are eight ways how to save money on car insurance. We all know that car insurance can be a real pain in the wallet, but the good news is, by understanding what affects your auto insurance costs, you can get good coverage without breaking the bank.

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First and foremost, let's talk about the importance of shopping around. Companies base your rate on a variety of factors, such as the kind of car you drive, your age, driving history, and even your location. But here's the thing, they weigh these factors differently, which is why it's so important to compare rates.

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To give you an idea of just how much money you can save by shopping around, we did some research. We compared rates for a 30-year-old driver buying full coverage insurance and what we found was pretty astounding. The costs varied by hundreds of dollars a year!

For example, good drivers with good credit can save more than $160 a month, on average, by switching from the most to the least expensive insurer in their state. And the savings can be even bigger for drivers with a recent at-fault accident or poor credit – almost $275 and $450 a month on average, respectively.

Now, here's the catch. The company with the lowest rates in one state can be the most expensive in another. And the cheapest company for a good driver with good credit might not be the cheapest for someone with a DUI or a recent accident. So, it's important to keep that in mind when shopping around.

But don't let that discourage you! The bottom line is, by taking the time to shop around and compare rates, you could be saving yourself a significant amount of money each month. So, take the time to do your research and you'll be well on your way to getting the coverage you need at a price you can afford.


Alright, now that we've talked about the importance of shopping around, let's talk about another way to save money on your car insurance premium: Discounts! Every insurance company offers special ways to save, but it's important to remember to compare quotes based on your own situation. Just because an insurer offers multiple discounts doesn't mean it offers the lowest overall price. So, make sure to do your research and take advantage of any discounts that apply to you.

And speaking of ways to save, let's talk about the importance of driving safely. We all know that speeding tickets, accidents and other traffic violations can drive up your car insurance premium. But did you know that if you get a ticket, you may be offered the opportunity to go to traffic school to get it dismissed or reduce the number of violation points that go on your driving record? It's true! And if you can keep the violation off your driving record, the time spent in class could lower your car insurance up to $400 per year on average, according to experts.

Alright, now we're getting into some more advanced ways to save money on your car insurance. Let's talk about the importance of dropping car insurance you don't need. If you're still driving around in that clunker of yours, it might be time to consider dropping collision and comprehensive insurance. These types of insurance pay for damage to your vehicle, but if your car is worth less than your deductible plus the amount you pay for annual coverage, then it's time to say goodbye to them.

Alright, now we're getting into some lesser-known ways to save money on your car insurance. Have you ever thought about how your credit score can affect your car insurance premium? Believe it or not, your credit can be a big factor when insurance companies calculate how much to charge. In some cases, it can even count more than your driving record. But, there are a few states where insurers aren't allowed to consider credit when setting rates, such as California, Hawaii, Massachusetts, and Michigan.

Alright, now let's talk about an option for those of you who don't drive a lot: usage-based insurance. If you don't mind having your driving behavior tracked, this could be a great way to lower your car insurance costs. There are a few different types of usage-based insurance out there, such as pay-per-mile insurance and programs that track behaviors like speeding and hard braking.

That's it for our video on how to save money on car insurance. Don't forget to subscribe to our channel for more helpful videos and tips about car insurance. And remember, contact your insurance provider if you have questions. Enjoy your day and see you on the next video!
Disclaimer: The information provided in this video is for general educational purposes only and is not a substitute for professional advice. Please always check with your individual insurance agent for your specific insurance needs and requirements.

Cheers to saving on car insurance!
Team Cheap Car Insurance Scout
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