Beyond those five ways that nearly everyone can take advantage of, here are a few more savings opportunities that are more specific:
– If you have a teen driver, you know how expensive it can be to have them on your policy. But check with your insurance company regularly, because the premium drops with every year they age.
– You should probably get married for other reasons, but if you’re looking for one to sway your decision, married people pay the least in car insurance, while single people pay the most. When you get married, you can expect your annual car insurance premiums to drop by about 6%.
– Like your car? Then hold on to it and don’t be so quick to switch to the new hotness. Nationally, auto insurance drops about 3.4% on average with each year your car ages.
– It may seem counterintuitive, but people with a job pay less for car insurance than the unemployed. It’s only about 1%, but there is a difference. Looking to squeeze out even more savings? Join the armed forces. Being in the military or holding an advanced degree can also lead to lower insurance rates.
– Don’t buy a car without checking what your new insurance rates will be. In general, trucks are cheaper to insure than cars.