My renewal is up, and I’m trying to cut the cost without doing something dumb like dropping coverage I’ll need later.What changes made the biggest difference for you? I’m looking at stuff like:-raising my deductible (but I don’t want to set it so high it’s useless)-checking for discounts I might be missing (mileage, safe driver, bundling, etc.)-getting multiple quotes and making sure the coverages match line by lineI ran a quick comparison through Save Max Auto just to see how far apart rates can be, but I’m more interested in what people did that reliably moved the number down long-term. Any traps to avoid when shopping?
What’s actually worked for lowering your auto insurance premium?
byu/Ok_Zookeepergame1772 inFrugal
Posted by Ok_Zookeepergame1772
10 Comments
Any kind of help is welcome
I personally use Geico and with all my stacked discounts, I pay $675 every six months but I do drive an 08 Honda Accord. I also set my deductibles to $1000 and have a dashcam for insurance purposes.
My gf just got a new car and finally updated her address to my house. We both have State Farm and they said because we live together, we both have to be listed as drivers on the other one’s policy.
My 2020 Tucson went from $104/mo to $72/mo adding her as a driver. 😂🤷♂️🤷♂️🤷♂️🤷♂️
Shop around quotes. I thought loyalty paid off and I had USAA since the time I was a teenager. My rates steadily increased overtime and month to month, was like this is ridiculous.. went and pulled quotes for other companies, got slightly better coverage for 50 dollars less a month (118 to 66 a month)
I save now with bundling my renters and motorcycle policy. Some companies will list things you can do for discounts, and some associations you may belong to offer discounts to certain insurers.
Whenever my policy comes up for renewal I always check around quotes.
I told my 23 year old it was time for them to get their own policy.
Identifying my vehicle as pleasure use only. Working from home means I’m not driving everyday. Same when you retire.
Shop around.
Have your coverage needs listed out so if you do have to speak to a live agent you can quickly get customized.
We have an independent agent that helps find better options each year. We switched 3 times before staying. Bundling with our home insurance helped.
We went line by line over the coverage and took out things like rental coverage. Between family, careful planning, and Uber/taxis we’d be fine. For about $12/year we have our deductable at $100 rather than $1000. It really depends on what makes sense in your life.
Progressive Snapshot. I got the maximum discount of 30%.
Shop around. I’ve had Progressive for years but they wanted to raise my premium from $1500 to $1900 because some truckwad rear-ended me on the freeway. AAA was $1550 and also significantly less for homeowner’s insurance.