Lower Car Insurance Rates in 2023: Where & How to Get Them

Lower Car Insurance Rates in 2023: Where & How to Get Them

Posted on January 4, 2023

Hey, you want cheaper car insurance right? Of course you do, everyone does! That’s why they make it hard to do. Insurance companies don’t want to give you cheaper insurance, that's why you need to find your own creative ways to get it, and in this article we’re going to help you by sharing our best secrets to getting lower car insurance rates. 

Shop Elsewhere

Insurance is a business, and like any business there’s competition. What that means is that if you aren’t getting a price for insurance that you think is fair, you can and should look elsewhere. There are many price comparing sites and tools you can use to see where you can get a good deal, and if you still prefer some of the other benefits of your current deal, you can take that price back to your current insurer and ask if they’ll match the price.

Increase Your Deductibles

A very easy way to lower your monthly insurance rates, provided you’re willing to take a little risk, Is to increase the amount of your deductibles. A deductible is the amount of money that you pledge to pay should an accident occur, say a car accident costs you $3000, a deductible could be $500 and then the insurance company agrees to pay the remaining $2500. 

Because the higher your deductible is, the less the insurance company needs to pay in the event of an accident, that means that there is a direct link between your deductible agreement and your monthly fee. If you agree to pay more, they charge you less, just make sure you have the money to cover the deductible should an accident actually happen. 

Decrease Your Coverage

Oftentimes insurance brokers will offer standard packages that come with a bunch of coverages that you don’t actually need, so if you’re looking to get lower car insurance, it’s worth taking a thorough reading of what you’re actually paying for. Some charges like towing fees can easily be taken off without missing them, or your car is old enough that collision coverage no longer makes sense to have, meaning you’re paying more than it’s actually worth to fix. 

Bundle up Coverage

Insurance companies usually offer more than one type of insurance, and it’s more than likely that you need more than one kind of insurance to go about your day to day, so it only makes sense to bundle things. Insurance companies will often offer discounts if you bundle multiple different insurance types like home insurance and car insurance together, so when you’re going insurance shopping, it’s worth taking into consideration the other things you need to insure as well. 

Thanks for reading, hopefully this article helps you get lower car insurance payments. If you have any questions, please contact us here!