Car Insurance Rates Are Surging: 7 Ways to Cut Your Premium Today

Auto insurance premiums jumped over 20% in the past two years. If you have not shopped around recently, you are almost certainly overpaying.

Why Rates Keep Climbing

Repair costs, vehicle prices, and medical expenses have all increased sharply. Insurers are passing those costs directly to you.

7 Proven Ways to Save

1. Compare at least 5 quotes. Rates vary by hundreds of dollars for identical coverage. The cheapest insurer for your neighbor may be the most expensive for you.

2. Bundle home and auto. Savings of 10-25% are standard with most carriers.

3. Raise your deductible. Going from $500 to $1,000 can cut premiums by 15-30%. Just make sure you can cover the deductible if needed.

4. Ask about every discount. Safe driver, low mileage, good student, military, professional association — most people qualify for discounts they never claim.

5. Drop comprehensive on old cars. If your car is worth less than $5,000, the coverage may cost more than the car is worth.

6. Improve your credit score. In most states, better credit means significantly lower premiums.

7. Pay annually. Monthly billing adds $50-100/year in installment fees.

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