Are you looking to save money on your car insurance. We are going to talk about 5 ways that you can make this possible so that you have more money in your pocket each month.
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Hi, my name is Deacon Hayes from Well Kept Wallet and today we are going to talk about ways you can save money on your car insurance. Yeah, that’s right. Because why pay more money if you don’t have to?
1. Increase your deductible
The first thing that you’re going to want to do is increase your deductible. But I only want you to do this if you have money in an emergency fund. So you want to have the cash in the bank to cover the deductible. If you have at least $1000, put the deductible up to $1,000. If you have 2,500, put it up to $2,500. So that way you have cash to pay the deductible. It’s for insurance, it is for IF something happens so that you are covered regardless. But that will save you money on your monthly premium.
2. Change your job
The second thing that you can do is change your job. No, but seriously, if you have a low-risk occupation your insurance company will give you lower and better rates. So that is something to consider. I am not encouraging you to do that right now, but that definitely plays a role in your insurance rates.
3. Good Student Discount
The third thing that you can do if you are a student is you can get a good student discount. So just study, pay attention, get good grades and they’ll give you a better rate.
4. Combine your insurance policies
Another thing you can do is combine your insurance policies. So if you have a home policy over here and another car policy over here, maybe you have a renters policy, you can put those all in one and often times they will give you a break for combining all of your policies.
5. Shop around
The last thing that you can do is shop around. You might not know that you are getting a bad deal, so shop around. There is a site called Esurance where you can just put in your information and they will spit out a quote. They will say hey, apples for apples is this better and more often than not, they are. So definitely check out Esurance, there is a link below this video. And just wanted to show you ways that you can save money on your car insurance so that you can have more money to achieve your financial goals.