Insurance is something that you probably hate getting, but it’s necessary when you have a car. This might be one of the few things that you pay for but hope to never use.

So, how can you save as much money on auto insurance as possible? While there are probably numerous ways, let’s go over the five ways that usually do the trick.

Look Around

Whenever you are looking to purchase items of significance or great value, you might look around for the best rates. For instance, looking at various airlines before booking with one. Try the same with your auto insurance to find the best value.

If you plan on using some internet tools, keep in mind that they might only show quotes from some companies. The sea is full of fishes, and you should look around until you find something that is comfortable.

Don’t Be Shy to Ask

Some insurance companies have discounts that they offer to customers, which is why you should not be shy to ask whoever you talk with.

These discounts usually come into effect when you get home, business, or other types of insurance policies from them as well. Then they offer a discount on all of them collectively.

Another thing companies do is that they offer discounts to customers that have more than one vehicle or other family members that need insurance.

If your vehicle has some anti-theft technology or some unique safety features, then you might still be eligible for some discounts.

Paying your policy collectively, such as quarterly, bi-yearly, or yearly, has also been a tactic that people use to get discounts.

Review Your Insurance Policy Regularly

Some of the coverage included in your insurance policy is a part of the minimum requirement set by your province. However, most of the time, insurance policies have some extra coverage and adds-ons. If you didn’t initially go over your policy, you should really go over it to find out what is included.

You should also note down the areas of coverage your policy offers or simply go over the papers every now and then to find out if there is something in it you no longer require. This can save you some money, which is why you should do this with other insurance policies as well.

Think About Increasing Your Deductible

Before your insurance policy kicks in, you will have to pay a sum out of your own pocket. This is called a deductible.

Usually, these are not significant payments. However, you can voluntarily ask your insurance company to raise your deductible. With a higher deductible, you might see that your insurance premiums are much less. You don’t even have to go too high. Simply by increasing it from $250 to $4550, for instance, can reduce your premiums by 15% to 30%.

However, you should be absolutely confident that your budget can handle the higher deductible if you get in an accident. Remember that your insurance doesn’t instantly kick in. You will have to wait for a little while for the process to go through.

Make Your Payments on Time

The insurance companies don’t usually go around checking how financially stable you are or if you are employed. Still, they can definitely cancel your coverage if you fall behind on the payments. Not only that, but you might also have to face trouble when you go to purchase a new policy from another company. They will either increase the premiums or reject your application altogether.

But your credit score or history won’t matter because they aren’t allowed to ask about it.