With so many people living paycheck to paycheck, it is no wonder that the idea of living a frugal lifestyle has become increasingly popular in recent years. The problem is, while living within your means may sound like an easy concept, putting this concept into action can often be far more difficult. This is because while some expenses can easily be eliminated from your monthly budget, others such as car insurance are not quite so easy to get rid of. After all, the only way to eliminate your car insurance bill all together is to stop driving and this simply is not an option for many people. The good news is, while you may not be able to eliminate this cost all together, you can certainly help to minimize it. In fact, the tips outlined below can help you to start saving big on your auto insurance as soon as today.
Tip #1: Bundle Your Car Insurance With Your Other Existing Policies
If you currently carry more than one type of insurance policy, bundling these policies with your auto insurance can help you to save money on all of your insurance needs. This is because insurance companies routinely offer discounts to loyal customers who choose to purchase more than one policy through their company. The best part is, this discount not only applies to your original policy, but to all of the policies you choose to purchase. Consequently, if you choose to purchase an insurance bundle that covers your auto, life, and homeowners insurance needs, you will not only be saving on your car insurance, but on your life and home insurance as well.
Tip #2: Make Sure You Have Accurately Reported Your Mileage
The cost of your auto insurance will be based in part on how much time you spend on the road each day. This is because the more time you spend driving, the greater your risk of being in an accident will be. This is precisely why insurance companies inquire about the primary use of your vehicle and the average number of miles you drive on a daily basis. If you did not provide your insurance company with an accurate answer to these questions when requesting your insurance quote or if your daily driving habits have changed since you first got the policy, taking the time to accurately report your average mileage could allow you to enjoy an immediate discount on your auto insurance policy.
Tip #3: Sit Down With An Insurance Broker To Review Your Coverage
Over time, your auto insurance coverage needs will change. This is because each year that you own your vehicle, the value of your vehicle will decrease due to depreciation. If it has been a while since you reviewed your coverage limits, sitting down with an insurance broker to review your current coverage limits will allow you to identify any unnecessary coverage that you are paying for. Best of all, most insurance brokers, from places like Matt Roenker Insurance Agency, will provide this service at no cost to you in return for the opportunity to try and find you more affordable auto insurance coverage.
Share5 March 2015
