Everyone is looking for ways to save on family expenses but did you even consider how to effectively reduce your insurance premiums?Image result for Car Insurance

These tips, from U.S. News and World Report, offer you the opportunity to save upwards of $500 without even leaving your home.  Some are simple, while others take a bit more thought, but if you’re looking for a way to increase your family savings, cutting back on your family car insurance (without risking coverage) might be the best fit for you.

  1. Drop the coverage you don’t need – what is necessary to be covered on your car 6 months ago might not be required today. Maintaining a 6 month check-up of your car insurance can help purge unnecessary costs and lower your overall premium.
  2. Search for discounts – Along with checking for coverages you can drop, also check for discounts. Just because you searched 6 months ago and got the discounted rates then doesn’t mean you’re getting the best rates now.
  3. Improve your credit score – I know, I know, easier said than done. However, if you do realize your credit score has gone up, take advantage of it! Look into your family car insurance rates and ask for a better deal based on your current score.
  4. Pay premiums with a credit card – If you have a credit card that offers cash back on your purchases than paying your family car insurance by credit card is the way to go. You can generally receive anywhere from 1-5% cash back, meaning you’re basically paying only 95% of your car insurance bill!
  5. Keep your kids grades up – Ever heard of good grade discounts? If you have a teenager or college student on your family car insurance make sure you are cashing in those good grades for some good cash discounts!
  6. Take a driving course – If you participate in a defensive driving course that is approved by your insurance carrier it can actually decrease your overall premium, or at least give you a small discount.
  7. See if your job can save you money – When you are given your rate quote the insurance companies actually put a risk assessment into your amount. This risk assessment is generally based on your job. Specific careers have higher or lower rates, so make sure your job isn’t affecting your high family car insurance rates!

 

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