5 Tips To Reduce Your Insurance Bill

5 Tips To Reduce Your Insurance Bill 

For protection, car insurance is a must, but it can put a financial dent in your wallet. There are some simple things you can do to reduce your premiums. If you are looking for ways to reduce your car insurance bill, take a few minutes to read these tips from the insurance experts at Media Benefits Insurance Services. 

1. Bundle Your Coverage 

Bundling helps reduce your insurance rates. If you purchase insurance coverage for multiple things, such as a few cars or a car and your home through the same insurance company, you should get lower rates on your auto insurance coverage.  

2. Choose a Higher Deductible 

The deductible is the amount you must pay for covered repairs before your car insurance pays the remaining balance. If you increase your deductible, it should decrease your premium. Make sure you can afford the higher deductible before you change it because you will need to pay it in the event of an accident. Ideally, you should keep the amount of your deductible in an emergency fund. 

3. Reassess Your Limits 

Take some time to review your policy for limits that you selected for liability, collision, and comprehensive coverage. If you have an older vehicle, you may want to lower the limits on collision and comprehensive, which will reduce your rates. Be cautious about lowering your liability limits; it could be financially devastating if you’re at fault in an accident. You should always have enough liability coverage to protect your assets. 

4. Check Duplicate Coverage 

In addition to the fact that your vehicle is getting older and you may want to consider lower limits, you may also need to refresh your memory on what coverage has been added over the years. You should review your policy carefully to ensure you don’t have duplicate coverage impacting your premiums.  

5. Consider Usage-Based Insurance 

Usage-based auto insurance, also known as pay-as-you-drive (PAYD) insurance, calculates your premium based on the actual usage of your car. With this insurance, you place a device in your car to record things, such as how much you drive and how abruptly you brake. If the device shows that you drive less often than average and are a safe driver, you’ll typically receive a discount on your auto insurance.  

Contact Us Today for Your Free Auto Insurance Review! 

If you are looking for ways to reduce your insurance rates, schedule an appointment for a free auto insurance review. Our agents will be able to give you valuable insight into adjustments that can be made to your policy. You can schedule an appointment online or contact one of our agents to meet in person or over the phone.  

Contact one of our agents: 

Let us help you find the best rates for your auto insurance! 

*Insurance services offered through Media Benefits Insurance Services CA Lic#0H99393, a DBA for Media Benefits Corp., a wholly-owned subsidiary of First Entertainment Credit Union. 
** Insurance discounts provided by Mercury Insurance