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Paying less for car insurance
Car insurance premiums vary a lot between companies for the same driver. Comparing at each renewal is one of the easiest ways to lower your cost of driving.
What to know
- Shop before renewal
- Get quotes from several insurers a few weeks before your policy renews, for the same coverage.
- Understand your coverage
- Liability is required in most states; collision and comprehensive cover your own car. Lenders usually require them on financed cars.
- Choose your deductible
- A higher deductible lowers your premium, as long as you could pay it after an accident.
- Ask about discounts
- Bundling, safe driving, good student, low mileage, anti-theft devices and paying in full.
- Reconsider coverage on older cars
- If a car is worth little, the cost of collision and comprehensive coverage may outweigh what you'd get after a claim.
Questions to ask
- What would my premium be with a higher deductible?
- Which discounts am I eligible for that I'm not getting?
Where to check
- Your state insurance department
- Minimum coverage requirements and complaint help.
General information for US drivers, not financial, legal or mechanical advice for your situation. Consumer protection, title and lemon laws vary by state. The Nickel Stretcher isn't paid by any dealer, lender, insurer or brand mentioned here.