Many people know that being a safe driver can effectively lower their car insurance payments, but there are a few clever and little-known things that can also help you save money on car insurance payments. While calling up your insurance company and haggling over prices may not be the most fun way to spend an afternoon, doing so can help keep a significant amount of money in your pockets. Here are 5 ways you may be able to save money on car insurance costs.
No, we’re not suggesting you tie the knot just to save on insurance costs, but most insurance companies charge married people less than singles. The savings are more considerable when you are younger, which is also when car insurance rates tend to be the highest. If you are married and around 20 years old, you could pay 21% less for an insurance policy than if you were single. This is because insurance companies consider married people to be less likely to be involved in an accident. A 2004 study backs this up, by finding that unmarried drivers have twice the risk of driver injury than their married counterparts.
This may not be possible for everyone, but in most states, insurance companies reward drivers who use their car less. This is because, statistically, the more time spent on the road means the greater chance of an accident. To give you a better idea, drivers who put 20,000 miles on their car each year typically pays 9% more than someone who only drives 5,000 miles.
Work a Safer Job
Again, this won’t apply to everyone, but there are some professions that insurance companies see as “safer.” These jobs include teachers, nurses, accountants, and similar professions. It may not be a universal truth, but it’s worth asking your insurance company if your job makes you eligible for a discount on your policy.
Be a Good Student
Most insurance companies offer discounts for students who earn good grades. The savings you could receive if you are an enrolled student who earns good grades can be as high as 25% at most companies, yet this is a discount that very few people take advantage of. If you meet these requirements, the savings you could get from that 4.0 GPA could be substantial.
Take Defensive Driving Classes
Most drivers would balk at the idea of taking additional driving classes once they’ve received their licenses, but taking defensive driving classes could well be worth the effort. Additional and optional safety classes can help assure your insurance company that you are a safe driver who is less prone to accidents. It’s worth looking into, as these classes require a minimal amount of time to complete, and could provide savings for years to come.
If you fall into one or more of these categories, consider giving your car insurance company a call to see if you can have your rates lower. A small investment of time could equal major annual savings.