Getting an employment discount isn’t your only option for lowering auto insurance costs. Here are other ways to save.
If you’re a homeowner, bundle your home and auto insurance to save money by taking out policies from the same provider. Bundles can apply to any type of insurance, such as renters, life and more.
Lowering your limits will decrease your auto insurance premiums but will also mean your insurance company will be less financially responsible for your future losses. It’s a trade-off; saving money now could mean spending more money later.
In the same vein, increasing the size of your deductible for collision/comprehensive coverage will also lower premiums but will mean you’ll owe more out of pocket for your physical damages.
You can get away with purchasing only the minimum amount of car insurance your state requires, dropping optional coverages like rental car coverage, roadside assistance and new car replacement. No state requires collision or comprehensive coverage and it’s probably not a necessity if you drive an older car.
Ask for More Discounts
Your employment discount is probably not the only discount your car insurance company has available. Ask your agent what other discounts apply to you, like rate cuts for having multiple vehicles or enrolling in online billing.
Enroll in Usage-Based Insurance
Are you a good driver who never drives distracted, drowsy or drunk? Maybe you drive very few miles because you use your work vehicle primarily or work from home. If that’s the case, consider usage-based insurance, in which you’re charged based on either your mileage only or a combination of your mileage and driving behaviors.