Auto insurance renewals come up all the time, and that’s always a huge chunk of a bill if you pay in a lump sum or six-month increments.
Though paying in a big chunk can save you money over month-to-month billing options, it’s still a hard, big hit.
So let’s get you some other tips on saving money on your auto insurance coverage with Daniel Miller from Brightway Insurance in Riverside.
He deals with dozens of insurance companies and has decades of experience in the field.
Miller's first tip, try some new technology. Many insurance companies offer driving trackers that you plug right into your car. It tells the company electronically if you are a generally safe driver.
“It’s a device we plug into our car that tracks our driving history,” he said. “It can track whether you are a defensive or aggressive driver. These can save you 20 percent to 30 percent.”
Secondly, he says you should shop around different companies every couple of years. You aren’t obligated to stay with the same place, as companies raise and lower prices periodically.
Miller also says certain companies are better for certain family situations.
“Each carrier has a different focus on what they try to write,” he said. “Some companies like families, some like older drivers, some are good with teenage drivers.”
And third, make sure you’re paying for the product you need. For instance, you may actually have too much coverage for your older vehicle, or maybe a high deductible (generally lower premium) is right for your family. Either way, don’t just check the same old box you check every year with your insurance. Take your time, your car’s value has changed… your family situation may have changed as well. You can save a lot of money by reading the fine print and talking to an agent.
But you have to be upfront and honest with your agent about how much you’re able to spend and your budget.
“We are the state that has the most uninsured drivers, so having the correct coverage is absolutely essential,” Miller said.