In this video we're gonna discuss the top 11 ways to lower your car insurance and what you can do immediately to lower your costs yes we are going to be discussing at number five that discounts that you can apply to your car insurance and for those of you that do want to stay till the end of the video I'm gonna go give you an added bonus and I'm gonna.
Go through the top 15 discounts that you can save extra money through your car insurance please smash the thumbs up if you guys get really good value out of this definitely share it with a friend that you think could use the advice that I'm giving today the whole goal of this channel is to make you smarter about your car insurance so you can make more.
Informed decisions get better coverages but ultimately save money what I'm gonna do is I'm gonna go through my notes here that I've written I've got three pages of notes to give you guys the best advice we're gonna try to cram it all in about 10 minutes so grab a pen and paper if you're writing this down don't worry if you don't get all this information.
You can always watch the video and then I will also post my notes on my blog but number one is don't assume that any one company is the cheapest and what I mean by that is for drivers with good credit the difference between the worst and the best insurance is about $100 a month a driver with poor credit the same thing it's even more so it can make a.
Difference between the best and worst person paying for that coverage with that company can be $200 a month don't assume progressive is the cheapest because in your situations they might be the cheapest but for someone that has perfect credit and has a house and all that other stuff they may be $200 more a month for that situation but it's very.
Situational and that doesn't change from state to state either what what I mean is the difference of the the company that might be the cheapest in Michigan may be the highest in Florida don't just base it on one specific company tip number two is don't ignore your local or regional insurance companies I'm a perfect example of this I actually work.
For a local company we're considered if you were to look us up you would find us as local but we work with 21 some odd States be it cells 17 different companies up to 21 States that's a small company with a huge reach whatever your situation is don't just rely on Allstate or state Farm where they can only sell you Allstate or State Farm for.
Same reasons they might be cheap in one area but not in the other it's always good to talk to a local agent that can look at multiple companies for you and determine what's the best fit number three you are credit it plays a very very large factor there are states like Hawaii California Massachusetts they don't allow you to charge as charge.
Different for credit but in the majority of things they've been able to articulate that credit does play a factor on claims in history that's one of the things you need to improve ways to do that make your loan payments on time keep credit card balances low or near half limit my dad actually was a CPA so I kind of grew up in the credit.
World having credit cards that are close to that half limit or lower personal opinion don't use them at all it'll hurt your credit but it's still worth it in the end I'd rather save the money then pay the interest don't use credit checks or loans to open accounts and limit the amount of credit you have available those are just some.
Of the ways that you can improve your credit score which improves what's called an Insurance score which is kind of a fancy word for credit tip number four consider insurance cost when you're purchasing a vehicle that's the number one thing I see people miss when they're purchasing a vehicle they never think how much is the insurance gonna be on.
This I've had people actually have to return the car because of the cost of the insurance was as much as the car loan and they just couldn't afford it so make sure that you get the difference in price the Volkswagens vs. the infinities is a big price difference a station wagon or a van which is considered a station wagon is different than driving.
An acura which is considered a performance car when you're looking at the car grab a couple of ins that's the best way to do it call your insurance agent and have them plug it into their system and give you an idea of what price difference you're going to be looking at in your car ensure it can be $100 a month more for just a different.
Car make sure you're mindful of that tip number five check for discounts if you can qualify for a homeownership discount which most states allow if you're married you usually get a better price if you don't have kids you're getting a little bit better but you're not kidding charge more if you have multiple cars you can do multiple car discounts if.
You're going to know your parents if you're young there's a lot of different discounts that you can qualify for even being part of credit unions and banks and ARP and all those different things that you can apply for there are tons of discounts now remember at the end of the video I am gonna go through I'm gonna list the top 15 discounts also.
If you are interested I did do a video somewhere up here I'll link it that does go over the top 10 or 15 discounts in car insurance as well number 6 if you have a clunker car it might not be worth it to have comp and collision on that cuts comprehensive and collision the calculation I personally came up with is figure 4 years if you add up the cost at.
Your pain if you look at your policy it'll say comprehensive there will be a price at your pain it'll say collision there will be a price at your pain now what you do is you add those up multiply that by 4 so 4 years just assume we have no claims no tickets no accidents no nothing right and we paid that amount for 4 years assuming the price never.
Changed is that worth more or less than the value of your car if your car is worth less than that then it's probably a good idea to remove that coverage altogether and that leads into tip number 7 and that's raise your deductibles if you are paying too much and the prices just getting outrageous it may be worth it to put a higher.
Deductible to your policy if you look at that same line where you're looking at how much you're paying for comprehensive and collision what would it be if you did a 500 a thousand dollars or a fifteen hundred dollar deductible if you have a really high-end car you can go 2,500 if you want but typically it doesn't make a big price difference past.
That thousand or $1,500 mark if it does make sense make sure that you put enough money away so if I have a thousand dollar deductible set up a savings account try to get a thousand dollars in there maybe you paid $20 a month hundred dollars a month whatever it takes but try to get that thousand dollars in that account that way in the case of an.
Emergency you're not gonna have to come out of pocket it's already saved up and it's ready to go and then you just continuously save that extra cost that you were paying in your insurance every year rubber 8 consider usage based insurance this is very good for those that don't drive a lot there's a video I did on route insurance they are usage.
Based insurance they don't do them in all the states there's also companies like triple-a they offer discounts for lower mileage not using the car as much they offer a triple-a drive the progressive offers snapshot Safeco or citizen's offers their system that you can get a discount it's ten to twenty five percent off if.
You can prove that you're a good driver they are gonna track your driving most of them don't share your information I don't think any of them do although that's the fear that everybody has but you could ask they have to disclose that stuff if they get caught they're gonna lose a lot of money if they're disclosing that information you got to.
Trust them at some point tip number nine tip number nine so location where you live makes a difference if you are moving you want to make sure that you call your insurance company and see what the prices are I've had a situation where I had a person move we change the address in their system and they're now paying.
Ten to twenty dollars a month more they weren't too happy but that's the you can't control that what they do is each company rates a location and they take all the insured's that they have in that location and they calculate what's the cost or what's the average of somebody having to claim their tip number ten driving records driving history oh my.
Goodness I feel sorry you can't control them all so there are states that count not at fault claims against you most states or a lot of states count partial claim so if you're fifty percent at fault and fifty percent not at fault your insurance is gonna pay part of that and you will have a rate increase now what you want to do is make sure that.
You're not just filing claims to file claims because if you file a claim that's that's putting you in a different pool so to speak or a different risk sometimes if you have a chip on the windshield and it's only twenty twenty-five dollars to get it repaired it might be worth it to out pocket that cost if your state charges comprehensive.
Claims against you what the crap do I buy insurance for that's the reason it is but it's a pool of people everybody's sharing the risk when you have that claim that at fault accident and booboo you pop you up and so now you're a higher in this pool of people so the price that you pay is going to be contributed to.
The amount of risk that you're adding to the group the tip number 11 is going to be the amount you pay so if you pay more upfront and I'll explain what I mean you're gonna get a better deal if you pay monthly that's fine if you're on a credit card you're gonna pay a fee if you're on an EFT electronic funds transfer comes right out of your savings.
Or your checking account they're usually gonna waive that fee if you pay quarterly not all but a lot of companies will give you a discount if you pay every six months it's less if you pay every year it's even less I've got a company that I work with that knocks off almost two hundred three hundred I've seen him knock off close to $400 a year.
If they're willing to just pay the whole thing and fall it's kind of like investing so instead of you getting money back from the stock market you're just not paying more for the insurance when you're paying monthly you're paying an extra cost there's fees involved with that congratulations you guys made it to the.
End we are gonna go through the 15 discounts right now do me a favor if you haven't liked the video like it subscribe so we've already gone over the top 11 discounts and we're gonna add the additional ones onto this the other discounts that we're missing is group discounts like I mentioned earlier are you part of a credit union the biggest.
One is are you part of the military or have you been part of the military that's huge are you a engineer Engineers get big discounts teachers get big discounts if you don't talk to your insurance person about that make sure you do now have you graduated college alumni they usually get a discount are you part of a motorcycle club any club.
That you're part of look at ARP is one of those discounts if you're 50 or older you can get a discount with many different companies I know nationwide gives a huge discount for it Liberty Mutual gives discounts for different things and there's just tons of them so it's just what you're attached to take a defensive driving.
Course check with your agent make sure they offer this but most states offer a discount for taking a defensive driving course usually an online course you don't have to do much for it pay in full we mentioned that earlier security system having an alarm system there's a couple versions will give you a discount on.
That as well not just a security alarm system but also having a anti-theft but a vehicle recovery system if you can track the car where did it go your occupation actually plays a part in most insurance company whether you're a construction worker or a businessman and a bank one thing you want to think of is.
There's other words you can use when I used to work at a large company it was just mind boggling if you're a professor versus a teacher the professor was like 10 percent higher than the teacher I don't get it because you can call yourself a teacher as a professor so kind of play with the thoughts of that maybe I'll do a video.
On what gives you the best discounts for those anyways guys I hope this was helpful share with anyone that you think can get good advice out of this definitely like it share subscribe all that stuff I will see you in the next one