Many people find car insurance to be one of those annoying bills that keeps rising. It feels like rates will definitely continue to rise and if we want to be protected, we have to pay whatever the insurance company charges.

However, there are some smart ways to lower your costs without sacrificing the important coverage you really should have.

In this article, we’ll explore 6 methods you’ve used in your life to lower your car insurance premiums while maintaining adequate coverage.

With these handy tips, you’ll save over $400 a year that you can now use on other, more fun or important things!

Save money while maintaining the coverage you need

When money is tight, one of the first things we do is cut insurance. Especially when it comes to cars, it feels like we're giving a lot and getting nothing in return!

But before you ditch basic coverage to save a few bucks, there are smarter ways to cut back on your budget. No comprehensive insurance provides quick relief, but it could leave you with a hefty bill later if you need repairs after an accident!

The trick is to carefully balance lower premiums now with maintaining protection so that if something happens, you'll blame yourself for losing that protection.

First, ask your insurance company if increasing your deductible or bundling your policies could save you money without having to cancel important coverage. Smaller tweaks like this are often enough to save significant amounts of money.

6 Proven Tips to Save $400 a Year on Car Insurance

Fortunately, there are ways to not only save on insurance coverage, but also on car insurance costs. Here are six tips for achieving big savings:

1. Increase your deductible

Don't want to cut back on important coverage, but need to save money? By agreeing to pay more for repairs up front, you can reduce your monthly bill.

Here's why it works:

● Less risk, lower premiums: By putting you on the hook for more of the potential repair costs, the insurance company can lower your rates because you're assuming some of the risk.

● Significant Savings: By increasing your deductible from $200 to $500, you’ll save up to 30% on your premium, or $120 back in your wallet!

Could you save over a hundred dollars a year with a simple change? You will accept it!

2. Install a security reward tracking device

Usage-based "telematics" programs use small devices installed in cars to monitor safety habits, such as wearing seat belts and avoiding emergency braking. In return, they offer significant discounts for great driving performance.

Here's what happens when you try:

● Easy installation: Installing small devices requires little time or effort. Painless!

● PREVENTION BIG BONUS: Your insurance company will reward you with savings of over $100 per year just for driving safely with a monitor.

With returns like these, a telematics project becomes very irresistible.

3. Shop smarter by comparing prices

Want the fastest way to save tons of money? Easily compare rates when your policy comes up for renewal! Insurance companies change prices regularly. So if you find a better deal, switch.

Here’s an eye-opening tip to save big bucks:

● Changing prices: Car insurance rates fluctuate regularly, which means other companies may now be beating your current premium.

● A little effort goes a long way: Whenever your policy needs to be extended, you can compare quotes from insurance companies. With just a few hours of effort, getting a cheaper plan can often save you $350 or more per year!

If you get a cheaper deal, switching insurance companies is a quick way to significantly reduce costs. The annual policy shopping spree is definitely worth it!

4. Check bundle discounts

Do you need to reduce costs with little effort? Take advantage of insurance company loyalty programs! By combining your home and vehicle insurance, you may qualify for a bundle discount.

We'll tell you about a sweet savings package:

● Kill two birds with one stone: you have combined your home contents and motor vehicle insurance with one provider and are therefore entitled to their loyalty package discounts.

● Extra Savings: Now you can automatically get 10% off your total insurance cost with just one-stop coverage! Quick and easy.

With double customs discounts, you can save almost effortlessly. It's a winning combination!

5. Evidence of low mileage

Driving less can actually pay off! Simply keeping a mileage log to record that I drive less than 5,000 miles a year earns me a small usage discount.

Load it:

● Discover hidden discounts: You keep a simple mileage log that shows you drive less than 5,000 miles per year. This means you qualify for a small usage discount!

● Benefits of driving less: Recording evidence of your mileage limits will save you about $65 per year.

Who would have thought that driving less would make financial sense? They’d love to put the extra money toward more road trip adventures!

6. Monitor your credit score

Research shows that insurance companies offer better rates to people with better credit and payment histories.

Ensuring you have more than 700 stays will ensure savings such as:

● Financial prudence pays off: If your credit score exceeds 700, you signal to insurance companies that you are in safe hands and reduce your risk profile.

● Save money through liability: This financially prudent practice can reduce your premiums by more than 5%, saving you $55 per year!

Healthy credit habits mean healthy savings on car insurance. It’s a win-win situation for you!

Follow these tips and save $400 a year on your car insurance

By regularly reviewing your policy, adjusting coverage, comparing rates from different insurance companies, and employing a variety of savings strategies simultaneously, you can minimize expenses while maintaining basic coverage.

If you practice just a few of these car insurance savings tips consistently, you could save $400 or more each year.