As a lead foot driver, I’ve experienced many situations when I needed to find a better rate on auto insurance. If you’ve had a speeding ticket, you know how much your insurance rates rise following the citation.
Driver Safety Class
When living in Texas a few years ago, I was accidentally speeding in a subdivision and got a ticket. This, of course, caused my insurance rates to rise. I learned that the Texas Department of Motor Vehicles offered a driver safety class. The DMV class featured a series of gory accident films and monotone lectures. It is likely the most boring 4 hours I’ve experienced but taking the class compensated for my higher insurance rate from the speeding ticket. Check with the DMV in your state to see if this class is available for a better rate on auto insurance.
Change Companies
If you’ve been involved in an accident that was not your fault, your auto insurance rates may have gone up. This happened to me. I immediately changed insurance companies and got a better rate on auto insurance. That was several years ago, as well.
Don’t Change Companies
Following my most recent speeding ticket, I again looked into switching companies. I found that because of my length of time with my current insurer, I was given a “loyalty forgiveness” rate for the cost of my coverage. None of the other auto insurance companies could touch the rate given by my current provider. This proves that you should sometimes stay with a company that offers forgiveness benefits in the case of a citation or accident.
Multi-Vehicle Discount
I keep all of our vehicles, boats, trailers, etc on the same policy. Multi-vehicles discounts can result in a much better rate on auto insurance. A homeowner’s or renter’s policy qualifies you for this discount with some companies.
Avoid Duplicate Coverage
Carefully check your policy benefits. I dropped the roadside assistance on my current policy, as it duplicated some of my other benefits. The savings is small, but it resulted in a better rate on auto insurance.
Maintain a Good Credit Score
In trying economic times, it is hard to pay all your bills on time. Give it your best shot and don’t let anything be reported as 30 days late or even unpaid. A good credit score puts you in a better position for a good rate on auto insurance.