Affordable Auto Insurance Shopping In A Tough Market

With insurance rates climbing in most parts of the country, shopping for affordable auto insurance can be a challenging task. Although there are several ways you can save money on your premiums, you might need to work hard to find affordable auto insurance in your budget.

Here are some of the ways you can find affordable auto insurance that provides the coverage you need at a price you can afford:

Shopping Around

With the current insurance market, going with the first insurance company you come across isn't likely to yield great results. When you take the time to compare quotes from multiple companies to see which one offers the best rates, consider getting a little help from an insurance broker.

Insurance brokers essentially shop for you. That means making inquiries on the insurance marketplace with multiple insurers simultaneously.  Although some brokers work closely with insurance providers, making them less objective, requesting a consultation doesn't require signing up for a policy. Once the broker gives you a series of premiums and coverage options, you can compare them with the options you've found yourself.

Look for Discounts

Affordable auto insurance providers are motivated to attract safe drivers, with good credit. Not only are these drivers less likely to get into an accident, but they're also more likely to pay their premiums promptly. If you're a safe driver, with decent credit, you can leverage your position to get discounts.

  • Safe Driving: many insurance companies offer discounts for things like having a good driving record, completing a defensive driving course, or having safety features on your vehicle. Be sure to ask about any discounts that may be available to you. Some affordable auto insurance providers will also decrease your premium and/or deductible as you continue to drive safely, pay your premium on time, and stick with the same provider.
  • Bundle: if you have multiple types of insurance, such as home and auto, consider bundling them with the same company. This can often lead to discounted rates. Although this can also mean having to switch multiple insurance policies, the discounts can be substantial.

Policy Adjustments

Not all drivers require the same level of auto insurance. Sometimes affordable auto insurance comes down to adjusting your coverage options.

  • Higher Deductible: choosing a higher deductible can often lead to lower premiums, as you are taking on more of the risk yourself. Just be sure to choose an amount that you can afford to pay out-of-pocket in case of an accident. This is perfect if you have an older vehicle that you own outright.
  • Alternative Coverage: usage-based insurance, which tracks your driving habits and offers discounts for safe driving, which can also deliver more affordable auto insurance policies.

To learn more, contact an auto insurance agency in your area.