Cheap car insurance can save 50% on the price of your car insurance and when you consider that the national average is $1576 per year, this equates to a savings of $750 per year. In some areas, the amount you will save will be more and in others it will be less.
I live in Florida and here the average cost of auto insurance for residents is $1657.
I pay a total of $676.44 per year.
By applying all available discounts, I save $980.56 per year on the cost of my auto insurance.
The price of insurance policies is based on several factors including your age, gender, occupation, education, and where in the country you live. These are factors over which most people have little or no control.
However, there are factors you do have control over and you can make changes to save money and buy cheaper insurance.
You can save money on your auto insurance by following these steps.
5 steps to save money.
1. Drive a four-door sedan. Yes, with a small 6-cylinder engine. Many people don’t realize that the type of car you drive has a big effect on the price of your car insurance. If you’re driving a high-powered sports car that’s worth a lot of money, you’ll also be paying a lot of money for your car insurance.
2. Security features. I have these. If you have seat belts, which everyone is supposed to have, in addition to airbags and an anti-theft device, this will have the effect of lowering the price of your car insurance.
3. Go only with liability insurance. I did this because my car is paid for. If your car is paid off, you can get away with just having liability insurance on your car and this will further reduce your rate by 20%. This is a national average savings of $315. I just did this myself.
4. Deductible increase. I did this. If you raise your auto insurance deductible to $1,000 per accident from $200 per accident, the results will be a 40% reduction in your auto insurance premiums. This is a national average savings of $630.
5. Do what I do and buy your auto insurance from the same company you buy your home insurance from. This will save you 10% or a national average of 157.
You can also include business insurance in this package if you own a small business and save even more money on all three. I sold my restaurant, so this does not apply to me.
Affordable car insurance isn’t hard to find because you can save money, an average of $750 or more on your car insurance by taking advantage of discounts that most car insurance companies will make available to you.