15 Tips and Ideas for Cutting Car Insurance Costs

Due to the litigious nature of our society and the increasing prices of vehicles, car insurance rates are on the rise across the country. The bad news is that insurance isn’t likely to come down in price anytime soon. The good news is that there are things you can do to minimize increases or reduce the burden on your wallet.

Key Takeaways

  • One of the ways to lower car insurance is through a discount bulk rate for insuring several vehicles and drivers at once.
  • Lower car insurance rates may also be available if you have other insurance policies with the same company.
  • Maintaining a safe driving record is key to getting lower car insurance rates.

1. Multiple Cars and/or Drivers May Save Money

If you obtain a quote from an auto insurance company to insure a single vehicle, you might end up with a higher quote per vehicle than if you inquired about insuring several drivers or vehicles with that company. Insurance companies will offer what amounts to a bulk rate because they want your business. Under some circumstances they are willing to give you a deal if it means you’ll bring in more of it.

Ask your insurance agent to see if you qualify. Generally speaking, multiple drivers must live at the same residence and be related by blood or by marriage. Two unrelated people may also be able to obtain a discount; however, they usually must jointly own the vehicle.

If one of your drivers is a teen, you can expect to pay more to insure them. However, if your child’s grades are a B average or above or if they rank in the top 20% of the class, you may be able to get a good student discount on the coverage, which generally lasts until your child turns 25. These discounts can range from as little as 1% to as much as 39%, so be sure to show proof to your insurance agent that your teen is a good student.

Incidentally, some companies may also provide an auto insurance discount if you maintain other policies with the firm, such as homeowners insurance. Allstate, for example, offers a 10% car insurance discount and a 25% homeowners insurance discount when you bundle them together, so check to see if such discounts are available and applicable.

2. Mindful Driving Cuts Costs

In other words, be a safe driver. This should go without saying, but in today’s age of increasing in-car distractions, this bears mentioning as much as possible. The more mindful you are, the more accidents or moving violations you’ll be able to avoid—events that raise your insurance rates. Travelers offers safe driver discounts of between 10% and 23%, depending on your driving record.

For those unaware, points are typically assessed to a driver for moving violations, and more points can lead to higher insurance premiums (all else being equal).

3. Take a Defensive Driving Course

Sometimes insurance companies will provide a discount for those who 

Your Driving Costs | AAA NewsRoom


Spike in Finance Costs Drives Increase

ORLANDO, Fla. (September 12, 2019) – It’s going to cost more for those looking to buy a new car this year. Finance costs on new car purchases have jumped 24% in 2019, according to new AAA research, pushing the average annual cost of vehicle ownership to $9,282, or $773.50 a month. That’s the highest cost associated with new vehicle ownership since AAA began tracking expenses in 1950 and a reminder that the true costs of owning a vehicle extend far beyond maintenance and fuel.

“Finance costs accounted for more than 40% of the total increase in average vehicle ownership costs,” said John Nielsen, AAA’s managing director for Automotive Engineering & Repair. “AAA found finance charges rose more sharply in the last 12 months than any major expense associated with owning a vehicle.”

Additional Resources

The spike in finance charges – which rose from $744 to $920, a nearly $200 increase — was fueled by rising federal interest rates and higher vehicle prices. It comes as 72-month car loans have become increasingly common – meaning car buyers are paying more, and longer, for vehicles that lose value the moment they’re sold. Long-term loans offer lower monthly car payments, but they ultimately cost the consumer more. AAA found that, on average, every 12 months added to the life of a loan adds nearly $1,000 in total finance charges.

“Smaller monthly payments may be tempting to potential buyers, but they can add big costs in the long run,” Nielsen said.

The new figures come from Your Driving Costs, which reviews nine categories of vehicles – consisting of 45 models – to determine the average annual operating and ownership costs of each. AAA focuses on top-selling, mid-priced models and compares them across six expense categories: fuel prices; maintenance/repair/tire costs; insurance rates; license/registration/taxes; depreciation; and finance charges. Annual average costs increased in each category.

Of all costs, depreciation, a measure of how quickly a car loses value, remains the single biggest cost of ownership, accounting for more than a third (36%) of the average annual cost. It slowed a bit this year, with vehicles included in the study losing an average of $3,334 a year, up $45 – or 1.4% – from last year. In 2018, depreciation rose by $117, or 3.7%. In two vehicle classes this year – small and medium sedans – depreciation costs actually declined.

Other key findings of this year’s Your Driving Costs include:

  • Average fuel cost rose to 11.6 cents per mile, 5% higher than last year. The per-mile increase was driven by gasoline prices, which are up 15.6 cents per gallon over the timeframe covered by the study. Electricity prices for EV charging also rose 0.1 cent per kilowatt-hour (0.08%), but the market share of the electric vehicles in the study (0.48%) makes the effect of this increase on the overall average fuel cost negligible. Fuel costs vary widely by vehicle type, ranging from a low of 3.65 cents per mile

Used Cars At Low Costs, Affordable Used Vehicles

By now all of us of heard concerning the challenges that many face with credit right this moment. Additionally you must try a corporations website if they do not have one or it is poorly put collectively that may be an indicator that the corporate does not pay much attention to element. Typically occasions we’ve repaired other automobiles in the neighborhood and have glad prospects just down the road.

For one time jobs you should utilize a decide-up truck, or trailer, but these aren’t probably the most supreme vehicles due to them not having safety from the elements. The businesses who deal in such methodology will assist the folks to take away their junk or useless vehicles from their garage spaces.

You might not actually understand that some vehicles eat extra fuel than what is anticipated and that is because of the restrictions set by their producer. The gas is burnt inside the chamber only, and a car engine’s full title is an inner combustion engine.

Should you want to do an EUROPEAN remap on your vehicle, you should definitely choose a reliable ECU mapping firm to do the job. Driverless vehicles are believed to be nearly 100% safer than these with drivers behind the wheel. In the instance above, your insurance coverage company would doubtless determine your vehicle to be an Economic Complete Loss.

Therefore, in such cases, hybrid vehicles are more usually most well-liked because it has been revealed through intensive experimentation that the extent of emission in case of hybrid vehicles is very low in contrast the emissions produced by traditional internal combustion engine vehicles and within the face of frequently rising gasoline prices, these hybrid vehicles are helpful in maintaining higher gas economic system.…

Used Automobiles At Low Costs, Inexpensive Used Cars

It looks like on a regular basis we are seeing major automakers, as well as main firms, reveal their prototypes and fashions of latest electric and self-driving vehicles. Give their employees the usage of an organization vehicle as a result of there may be usually a need to get a very early begin, respond to emergency calls and in addition in lieu of the necessity to travel extensively to completely different locals on a regular basis as part of the business’ providers.

Since hybrid vehicles are identified to have a very good storage of electrical vitality, it is smart that the brand new air injection system for hybrid vehicles is powered by electricity. Basically any firm that repairs your vehicle with out requiring you to pay a deductible is supplying you with a “discount.” This is utterly authorized and actually most PDR companies will not require you to pay your deductible.

The know-how is aimed to be used by hybrid vehicles. An sincere ECU remapping firm will do a diagnostic examine in your vehicle to make sure there are not any attainable points that could cause a problem for EU remapping to take place. Most of the firms provide a reasonable quantity in change for the outdated and completely dead automobiles.

These are people who haven’t got an organization, haven’t got employees, have a rental lot or something that comes with the working of a automotive dealership. This has opened the door for a lot of people who find themselves contemplating to start a secondary stream of income or even a part time enterprise.

In accordance with the federal government gasoline economic system website, the most efficient standard measurement vehicles are the Chevrolet Silverado 15 Hybrid wheel drive and the GMC Sierra 15 Hybrid 2 wheel drive. One factor to recollect is that if you’re paid the worth of your vehicle, the insurance coverage company will retain the salvage or damaged vehicle after which promote it to a vendor.…