Paying for a car could be relatively affordable if it wasn’t for those wild insurance rates. You realize that most of your money goes towards your insurance rather than your car payment, and you have to believe there’s another way. In fact, there are an abundance of discounts so you can learn how to save money on car insurance.
TFC Car Title Loans knows cars. One of the leading auto title loan lenders since 1994, we understand that insuring your car can be expensive and cost you. We believe that letting you in on the secret discounts in every insurance company, we can help our customers stress less and enjoy driving.
Every year, different insurance companies change their rates to compete with other insurance providers. If you already have an insurance provider, you should shop around every year and compare to what you’re paying now. Don’t be afraid to ask your current provider if you get a loyalty discount.
If you’re planning to insure your new car, try to compare at least 3 different insurance plans. Compare all the deductibles to the premium rates. Ask your friends and family, too, to see if they enjoy their plans through that company.
When choosing your plan, think about the deductible amount to the premium rate. If there is a low premium rate but a low deductible, you don’t want to pay more if there is an accident with your car. Make sure you are getting a higher deductible amount for a low premium rate.
Base the amount you want for a deductible off of your driving history and habits. Be honest with yourself. If you find that you are a safe driver, you could stand to lower your deductible in different areas. If you know you are a reckless driver that tends to cut it close with an accident, maybe try and keep your deductible at a decent amount. Practicing safe driving can reward you in the end.
Every insurance company has different types of discounts. Call your representative or insurance company to see if you’ll be able to qualify for any of the discounts they offer. Common discounts include some of the following:
If a high school or college student under your plan gets good grades, your insurance company will offer a discount. All you need to do is fax or email your representative a copy of their transcript that shows their GPA.
As long as new drivers have taken a driving course, whether through school or through a private company, they could be eligible for a discount. This could be a high school student or even adult that just began driving.
Some places offer more experienced drivers discounts if they take a refresher course. Rules of the road change so you could benefit in more than one way from taking a refresher course.
Regardless of age or experience, a driver can get a discount for a defensive driving course. You can be prepared for any outcome on the road.
Some insurance companies will offer a discount to drivers who are part of a specific professional, business, and/or alumni group if they offer an insurance deal.
If there is an anti-theft device programed in your car or have any other features on your car that reduce theft or injury, your insurance company may offer you a discount.
If you haven’t had any accidents, moving violations, tickets, or other incidents in a specific time period (or throughout your entire driving history), there can be good discounts or cash back options that an insurance provider might offer.
In some instances, your insurance provider may offer you a discount with your car insurance for getting homeowners, renters, or life insurance through them. Double check with other single-insurers that taking the bundle deal will save you money with those other insurance options.
There are companies that will offer a discount to drivers who drive less than the average number of miles. If your own mile usage has gone down from the previous year because of a new job, new home, or retirement, you can also get a discount for lowering your personal mileage. There is also a usage-based insurance that could save you money if you qualify.
The car you choose will also change the cost of your premiums. Different types of cars and models have different premiums, so if you are deciding between cars, use the insurance cost to choose which will be the cheaper option.
If you’re trying to lower your insurance because you are trying to find ways to put cash in your pocket, consider applying for an auto title loan with TFC. We understand that life calls for different monetary needs, and we want to help you destress with more cash in your hands. Give us a call today to see if you qualify.