Understanding Insurance Policies

Understanding Insurance Policies

3 Unique Ways To Save On Car Insurance

Samantha Reynolds

Owning a motor vehicle can make it more convenient to travel from one place to another. While there are many fixed costs associated with owning a car (gas, car payments, etc.), your car insurance doesn't have to remain the same.

If you feel that you are paying too much for your auto insurance policy, here are three unique ways that you can save money on your monthly premiums in the future.

1. Continually monitor the value of your vehicle.

The car insurance policy that you purchase when your car is brand new may not be the best policy as your vehicle ages. Drivers often forget to update their auto insurance as their vehicle grows older, and overlooking this simple detail could be costing you money each month.

Check the Kelley Blue Book value of your vehicle, and then be sure that your comprehensive policy is covering only the present value of your vehicle, not the value it held when you first retained the policy. Eliminating excess coverage will help you reduce your monthly auto insurance premiums.

2. Consider joining a carpool.

Most drivers know that joining a carpool can be beneficial for the environment, but riding to work with others could also put more green back in your wallet by reducing your monthly insurance premiums. The cost of many auto policies is dependent, in part, on the number of miles that a driver travels in any given year.

Insurance agencies are often willing to offer a discount to drivers who travel less than 7,000 miles each year, since these drivers pose less of an accident risk than drivers spending significantly more time behind the wheel. Eliminating your commuter miles by joining a carpool can be a simple way to get your vehicle below the discount mileage threshold established by your insurance agency.

3. Etch your vehicle's VIN on the glass.

Reducing the likelihood that your vehicle will be stolen can be a simple way to cut your auto insurance costs. Prominently displaying your vehicle's identification (or VIN) number could help deter thieves looking to take your car.

Many insurance companies are willing to offer anywhere from a 5% to 15% reduction on your monthly insurance premiums if your vehicle's VIN is etched into its auto glass.

Finding unique ways to reduce your car insurance costs can be simple. By doing something as easy as tracking your vehicle's value, joining a carpool, and etching your VIN number into your car's glass, you can reduce the amount of money you pay to insure your vehicle each month.

For more information, contact local professionals like Martin Insurance Company.


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About Me
Understanding Insurance Policies

After I moved out of my parent's home, I started learning more and more about insurance policies. I was involved in a bad car accident, and I ended up working with my car insurance company as well as my medical and dental insurance companies. I paid my premiums and enjoyed coverage, but I didn't really understand how the entire insurance claim process worked. I wanted to make this blog to help other people like me to learn more about insurance coverage. Check out this blog for more details on insurance coverage, how to file a claim, and what you should expect throughout the shopping process.