When it comes to auto insurance, we all want the cheapest policy possible. Sure, it is definitely important to get an adequate amount of coverage before worrying too much about price. Going with the minimum legal standard usually doesn’t make practical or financial sense.
But all things being equal, when we’re talking about the same level of coverage from difference providers, we don’t want to pay for something that we could get for 25% less through another company.
How do you actually make sure you aren’t being overcharged? Where can you find the best rates? How do you actually go about finding more affordable auto insurance?
If you start with the following three pro tips, you should be able to pay less without sacrificing on coverage.
1. Working for Discounts
There are so many different types of discounts and savings opportunities out there — if you just look. Really, the biggest problem most people have is awareness. How much money are you leaving on the table by simply failing to search for a better premium?
The first place you should look is your employer. Does your job or union present opportunities that you didn’t even know exist? Lawyers in some states, for example, can get an instant discount through their local bar association. Several providers offers savings for teachers. And veterans and military members — including their families — can obtain some of the best auto insurance offerings on the market through USAA. Don’t miss out on this easy-to-obtain rate reduction.
2 State of the Union
Even beyond the blanket savings available to people in certain fields, many individual unions have negotiated discounts for their members. So no matter whether you are in construction, engineering, or some other line of work, you are likely to be able to lower the rate you’re paying each month.
United Food and Commercial Workers International Union (UFCW) can get double-digit discounts. Members of the American Society of Civil Engineers (ASCE) are eligible from some providers. Unaffiliated small business owners who are self-employed in the Freelancer’s Union can often find savings. And the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) has partnered with various financial institutions to secure a policy discount.
3. Buy in Bulk
One other simple way to get a great rate that too many buyers overlook is buying in bulk. Most of us do this now when buying home goods. But little do some people know that the same can apply to their auto insurance — and other policies.
Most leading financial providers these days want to land good clients who need various products and services. So if you are willing to get a package of different coverages — from auto and homeowners to life and health — they are happy to offer you some savings. And the same goes for multiple people. You should be able put the whole family onto one auto insurance plan. And if your teen gets a license this year? Sign them up and ask for an even lower rate.
Getting the Best Auto Insurance Policy You Can
Today may just seem like another day of the week. But if you just put in a few minutes, it could be the day that you get some money back in your pocket. Get excited! And then get on the internet to do some research and get on the phone.
Ask for discounts that apply to your profession or another affiliation, such as military service or university alumni associations. See if your union offers savings opportunities that you didn’t know about. And consider moving any policies you have with multiple companies to the same firm.
Remember, insurance premiums are something you pay monthly. So unlike one-time purchases such as TVs and computers, even a small reduction in your rate can add up over time. Then the only question will be what you do with all the extra cash you have at the end of the year?