Hello! I'm Dan Lyles with Lyles Insurance. And in this video we're going to go over 8 short-term ways to getting cheaper auto insurance.
There are a few things drivers can do to lower their auto insurance rate. But they're simply not taking advantage of them. And so that's why I've provided this list of short term things you can do to lower your rate. And don't worry! I'm not going to ask you to make any major life-changing events. For example, I'm not going to suggest that you move to a smaller town, or buy a home, or get married, or something like that. These are all simple things that just about anybody can do fairly easy. Now, not all of these are going to apply to everyone. But they're all easy to do and can be done in about six months or less.
So let's get started. And we'll start with one of the biggest money savers. Number one: Shop around! Don't be afraid to get quotes with other companies. This is one of the biggest money savers. But it's also one of the things that people neglect to do. Experts recommend that you
should shop around at least every two years for cheaper auto insurance. But very few people actually do it. And remember that the more companies you quote with, the better your chances of getting a lower rate. And that's why it's very efficient to quote with an independent agent, where you get multiple company quotes at once instead of shopping around with just one company at a time.
Number two: Pay for your policy in full. This is another big money saver, sometimes up to 20 to 30%. When you pay your policy in full you get the highest discount. Now I know that's a lot of money to save up at once sometimes. But it is the cheapest way to go.
Now, if paying in full is not possible. Your second best option is to have your monthly payments automatically withdrawn, from like a checking account (some companies allow you to do it from your credit card). But at least that way would cost you less versus making
monthly manual payments.
Number three: Carry active auto insurance for at least six months without a lapse in coverage. By doing so, you get what's called a prior coverage discount. And depending on the company, can range from anywhere between a ten to twenty five percent savings, sometimes even more. Many companies will also give you more of a discount if you've had coverage a lot longer than six months. And some also give you a boost in the discount if you
have higher levels of liability coverage than just carrying state minimum levels. Now, this is important. If you didn't have prior insurance before, make sure to re-quote again after you've had coverage for six months. That's when you're really going to see the savings come in.
Number four is paperless discount. Now this is probably not as big of a money saver as the three I mentioned earlier. But it's still significant nonetheless. And it's very easy to do. All you need is an email address to sign up for a paperless discount. And documents that are not
required by law to be sent through the mail, they'll go to your email instead. And just by doing so, you'll save several percent on your auto insurance.
Number five: Is driver behavior discounts. This has to do with drivers who are low mileage drivers. If you drive a lot less than the average person, you're a prime candidate for this discount. Companies will use different methods depending on who your auto insurance company is. Some of them will have you use plug-in devices. Others you just install an app on your phone. Some just want to check your odometer on occasion. But nonetheless if you don't drive a lot of miles, you should seriously look into this. Because some of these discounts tend to be very significant.
Number six: Is anti-theft device discount. If your vehicle has an anti-theft device, be sure to check with your agent to see if a discount is offered. And if so, make sure that discount is being applied to your policy. A lot of vehicles will qualify, but are not getting credit for it.
Number seven: Is defensive or safety driving course discount. Many companies will offer a discount if you've taken a recent defensive driving course or safety driving course. If you or any of the other drivers on your policy have taken such a course, make sure to ask your agent about applying that discount.
And finally, Number eight: Good student discount. If you have a young driver on your policy who gets good grades in high school or college, this discount is usually a big money
saver. And you don't have to be a straight A student or valedictorian to qualify. Usually with most companies, a 3.0 GPA or higher, or a recent honor roll or Dean's List certificate is all that it takes to qualify.
So I hope you've learned something that you might not have thought of before. Hopefully, you can save some money on your policy. Thanks for watching and have a great day!
Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..