Gas prices, tight budgets and rising inflation – according to our recent survey,* seven out of 10 Americans say inflation has negatively impacted their finances, and close to one in three people (27%) are taking money out of savings to make ends meet.
With expenses running high, many people are looking for ways to save money. Because car insurance is a regular expense, you may be able to trim those costs. Consider these four ways to save money on car insurance.
1. Follow the Speed Limit
You don’t have to have an accident to see your car insurance rates increase. Speeding tickets or other traffic offenses also make those costs jump. If you need an incentive to be on your best driving behavior, enroll in COUNTRY Financial’s DriverIQ program and start with a 10% car insurance discount that could increase to as much as 25% with safe driving.
2. Keep Your Credit Score Up
Staying in good standing with credit agencies can help save money on car insurance. Pay your bills on time and check your credit history often to ensure it is correct. You can access your credit history for free at annualcreditreport.com.
3. Choose Your Car Carefully
Luxurious, sports and newer-model cars are expensive to buy and expensive to fix, so they cost more to insure. On the other hand, newer cars with sensors and other safety features don’t just give you peace of mind on the road, they can be safer to drive and help you save money on car insurance as well. The next time you’re car shopping, call your insurance agent to check rates on the make and model of the car you’re planning to buy. Think of auto insurance as one part of the cost of owning your car, and that could impact your buying decision.
4. Look for Car Insurance Discounts
Many companies offer car insurance discounts, and in some cases, you can qualify for more than one discount for greater savings. For example, you could get a discount when you insure multiple cars or bundle your home and car insurance. But taking a defensive driving class, keeping a good driving record, being a good student or having a certain career could layer more car insurance discounts and add up to more savings. Check with your insurance agent to make sure you are receiving all the discounts you can.
While you may explore trimming coverages or making changes to your deductible, talk with your insurance agent and make sure you completely understand the impact of those cost-saving changes. They could have long-term consequences if you have an accident or car insurance claim.
Visit countryfinancial.com to learn more about COUNTRY’s car insurance discounts and coverage options.
Whether you’re looking for auto insurance or need to review your existing insurance coverage, contact your local COUNTRY Financial representative for a quote or to review your coverages or auto insurance discounts.
See more: How to Plan Ahead and Avoid Running Out of Money in Retirement
About the author: Kelvin Schill serves as senior vice president of property/casualty for COUNTRY Financial.
*COUNTRY Financial Security Index, fielded by Ipsos
