Here are five hassle-free ways you can save on your auto insurance:
Improve your credit score. Pay your bills on time, slash your credit card balances and keep your unused credit accounts open to raise your score quickly. You can keep tabs on your score, which ranges from 300 to 850, for free from several card issuers and websites. (The average American has a credit score of 699.)
Choose the right deductible. Consumer Reports found that a two-car couple could save $140 each year by raising their deductible from $500 to $1,000. Be careful, said Jennifer Fitzgerald, CEO of online insurance broker PolicyGenius. "You can't look at the deductible in isolation."
"Make sure you can afford a high deductible in the worst-case scenario where you have to pay both auto and health insurance deductibles," she added.
Consider bundling your insurance. Linking your auto coverage with your renter's or homeowner's insurance can produce an average of $235 per year in savings, according to Consumer Reports.
Try usage-based auto insurance. More than 30 percent of new policyholders now are opting for insurance where premiums are partially determined by how much you drive, according to data from financial services research firm Aite Group. Usage-based insurance can be more affordable for people who work close to home and those who don't drive much, Richardson said.
Drive a vehicle that is cheaper to insure. Premiums vary widely based on the car you drive. You can review data on collision, bodily injury and property damage liability by make and model at Highway Loss Data Institute.
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