I certainly don’t intend to turn this into a “how to save money on transportation” blog, but there’s a lot of interest and information out there right now due to increased gasoline costs. Suze Orman has a list of ten ways to drive down your car costs. These are all methods of reducing your auto insurance costs, and they include:
- Boost your deductible — a higher deductible produces lower costs.
- Get less mileage out of your policy — be sure that your insurance policy accurately reflects the number of miles you drive.
- Home in on a discout — carry car insurance and homeowners insurance through the same company.
- Couple up on your policy — be sure that you and your partner carry a combined policy.
- Get defensive — defensive driving courses often reduce premiums.
- Put your degree to work — some insurers offer discounts for advanced degrees or for specific professions.
- Play group — some professional associations and other groups are able to obtain group discounts.
- Slow down — an unblemished record can bring discount as much as twenty percent!
- Give yourself credit — your credit record can actually effect your insurance premiums!
- Make the grade — when you add your children to your policy, their grades play a role in your rates.
Though I’m not a high-risk driver, I admit that I’ve never shopped around for insurance. My family has used the same small-town insurance agent for thirty years. I’m 37, drive a 2000 Ford Focus, and pay $50/month in auto insurance, and have no idea whether this is a lot or a little. I’ll have to do some research in the coming weeks.
GRS is committed to helping our readers save and achieve their financial goals. Savings interest rates may be low, but that is all the more reason to shop for the best rate. Find the highest savings interest rates and CD rates from Synchrony Bank, Ally Bank, GE Capital Bank, and more.