There are a number of simple car insurance tricks you can use to lower your insurance costs. Some of the most common are to reduce collision and comprehensive coverage, raise your deductible, add another driver, and drop collision coverage if your car is an older model. The best tips to save money on car insurance are very obvious and may even surprise you. Keeping a clean driving record is one of the most important car insurance tricks. Avoiding accidents is another important way to reduce the costs of car insurance.

Reduce collision and comprehensive coverage

Some people believe that they can save money by raising their deductible. Although this is true, it can put your assets at risk. If you are not properly covered for an accident, you will be responsible for any expenses. Other ways to reduce the cost of your coverage are to increase your deductibles. Raise the deductibles of your collision and comprehensive coverage to lower the premium. Increasing the deductible will reduce the cost of your insurance premium by 15 to 30 percent. You can raise the deductible to $1,000 if you are willing to make the sacrifice. You must have the funds on hand before increasing the deductible.

Increase your deductible

One way to save money on your car insurance is to increase your deductible. You might not think of it right away, but you could save anywhere from 10% to 40% by raising your deductible. You can use the money you save to save on other expenses, such as an emergency fund or a bank account for unexpected expenses. However, before you choose to increase your deductible, make sure you can afford it. Read on for some tips.

Add a more experienced driver to your policy

There are a number of reasons why you may want to add a more experienced driver to your car insurance plan. Adding another driver to your policy may lower your rate, but it may also raise it. To make sure that you get the best rate possible, it’s always a good idea to shop around for a policy. Below, MoneyGeek answers some of the most common questions that you may have about adding a driver to your policy.

Drop collision coverage on older cars

You might be wondering if it is worth dropping collision coverage on an older car. Every car injury lawyer will tell you that the truth is that most cars that are at least 10 years old are not worth as much as newer cars. The main factor that should determine whether you should drop collision coverage on an older car is how much you can replace the vehicle if it were totaled in an accident. For example, if your car is worth $3000, you probably won’t need collision coverage if it’s totaled, and if it isn’t, you probably don’t need it.

Avoid having a tracker in your car

You may have noticed advertisements for car insurance tracking devices on television, billboards, or even your mailbox. These devices can track your movement and even store phone data. Though there is no regulation governing car tracking devices, several state law enforcement agencies have access to this data. If you are worried about your privacy, avoid installing a tracker in your car. You’ll get the same results as if you installed a GPS tracking device.

Change your zip code to get a lower rate

You’ve probably noticed that auto insurance premiums are based on several different factors, including your ZIP code. Your location, driving history, and claims history all play a role in determining how much you pay. However, you might be surprised to learn that moving even across the street can lower your car insurance rate. By following these tips, you can lower your premium and enjoy a lower price on your vehicle insurance policy.