According to MarketWatch, the average cost of full auto insurance coverage is about $1,730 per year or $144 per month. That has left many motorists asking, ” Where can I get cheap car insurance near me?”
In this post, we lay out 6 ways to lock in cheap auto coverage in 2023 and beyond.
How To Get Cheap Car Insurance Rate
Several factors affect a driver’s ability to lock in the cheapest full coverage insurance, including driving record, type of car, location, age, and more. However, you can do a few things to get an affordable car insurance rate.
Improve your driving habits
Your driving record is a top factor that insurance companies use to determine your premium rate. By driving carefully, you’re able to avoid moving violations and accidents, two of the black marks that raise your insurance premium rates.
The best insurance companies will reward your clean driving record with safe driver discounts, which results in cheap car insurance rates.
Shop for cheap car insurance companies
Most people tend to stick with the insurance company their parents use or the one their car dealer recommends. What if that’s not the company offering the cheapest full coverage insurance in town?
The best way to find cheap auto insurance is to rate-shop and compare insurance quotes from at least 3 companies. So, before you buy or renew your auto policy every year, get quotes from several carriers to find lower rates.
Once you find a cheaper alternative, do your research to ensure that they have the financial strength to pay for claims and a reputable claim payment history.
Then, ask your current insurer if they can match the competitor’s cheap car insurance quotes. If they refuse, consider switching carriers to enjoy more affordable auto insurance coverage.
Take advantage of auto insurance discounts
Most motorists are unaware of the auto discounts at their disposal to enable them to lock in a cheap car insurance rate. If you know, you can ask to pay less, right?
Some of the discounts that may be available to you include:
- Good student discounts: If you have a teen driver with B average grades or better. Discounts vary by company but can range from 1%-39%.
- Bundling discounts: If you maintain different policies with the same company, like homeowners and auto insurance. You may get up to 25% off with some carriers.
- Multi-car discounts: Some companies offer a bulk rate when you insure several vehicles with the same company.
- Full payment discount: Pay premiums annually rather than monthly, and set up automatic payments.
- Driving course discounts: Some companies offer cheap car insurance if you complete an approved accident prevention or defensive driving course.
- Membership discounts: Membership or affiliation to some groups or organizations may qualify you to get cheap car insurance rates.
Install safety or security features
You can ask your insurance carrier to pay less if you install safety features or anti-theft devices like Lo Jacks and car alarms. Depending on the company, you may realize up to 23% in potential savings.
Opt for a larger deductible
A deductible is the amount you pay out of pocket before your insurance company steps in to pay a covered claim.
The point is, an accident leading to a claim may happen once in a long time. And, if you’re a careful driver, or drive only a few miles per week, it may never happen.
The higher the deductible, the lower your insurance premium rate. It’s a great way to get cheap auto insurance if you have enough cash flow or emergency savings.
Talk to an independent insurance agent
The best way to get the cheapest full coverage insurance is to engage the services of an independent insurance agent. They work with many insurance carriers and know the best cheap insurance companies nearby.
An agent will also point you to the discounts and savings you qualify for. Then, rate shop with top carriers to help you get the most comprehensive auto insurance at the lowest rate possible.