Auto Insurance Savings Tips

4 Auto Insurance Savings Tips

Prices continue to rise, and everyone is looking for ways to save money, including auto insurance savings. While shopping for auto insurance is never a fun process, the monthly savings may be well worth the effort. We’ve compiled some easy tips and tricks to help you save while making the process less stressful.

Driving Habits and Safe Driving Impact your Premiums

Your previous driving habits is an important factor when you are looking to save on your monthly payments. Your driving record can have a huge impact on your monthly premium rate. On average, insurance companies look at your driving record over the past three to five years. This includes any traffic violations, reckless driving, accidents, and DUIs. The more points you have on your record, the higher the risk is for auto insurance companies. This can be more costly for the customer.

So, whenever you are involved in an accident or receive points on your driver’s license, keep in mind this stays on your record for approximately seven years. Consider taking a defensive driving course or asking your agent how to lower your premium after an accident.

There are many companies that may also offer safe driver discounts, so the safer you drive the lower your premiums can be.

Bundling Home and Auto Insurance

Another great way to save on auto insurance is to bundle home/renters and auto. This can help you manage your different payments and consolidate them into one simple payment. Discounts may vary, but bundling can ultimately save you some money in the long run. Make sure to always shop around so you can get the best rate, as pricing can change each year.

Did you know, that as a benefit of being an Industrial Federal Credit Union member, you automatically get discounts on your auto and home insurance! You can receive a FREE no obligation quote, and compare to your current plan. Learn more by clicking below.

Credit Score and History

Credit scores are an important factor in a lot of decisions we make financially. With auto insurance, it can affect your monthly premium amount. If your credit score is lower, insurance companies will view this as a red flag, and may charge higher premiums for coverage, deeming you a higher risk.

Need help or guidance to increase your credit score? IFCU has certified financial counselors that can put you on the right track. IFCU's financial counselors can lay out personal plan to increase your credit score, and potentially put you on a path to some substantial monthly savings!

Compare Insurance Policies

While there’s a number of steps policyholders can take to reduce insurance rates, it’s worth shopping around for the best rates and policies for you. Wouldn't it be nice to make one phone call and compare rates? What if I told you, you can! IFCU members can make one phone call and get the lowest rate possible. Our partner insurance agents do all the research for you, saving time and limiting the hassle of calling multiple insurance companies.  Call today and see how much you can save! Get started here!

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