There are two ways to save on car insurance by reducing coverage. First, you can lower your policy limits. The other option is to eliminate unnecessary types of coverage. For example, if you have an old car that isn't worth much, you might consider eliminating collision coverage and comprehensive coverage.
Prices vary from company to company, so it's worth comparing prices. Get at least three price quotes. You can call companies directly or access information on the Internet. Your state's insurance department can also provide price comparisons for major insurers.
Perhaps you swapped an old model for a newer one that raised your collision and all-risk insurance rate. As a result, simply comparing prices could save a teen driver hundreds of dollars a year on car insurance. However, before you reduce your car insurance, you should weigh the benefits of a lower premium against the loss of protection. Even moving a short distance or paying some credit card bills late can increase the cost of car insurance.
You should reduce your car insurance coverage when you can no longer afford your current rate or you no longer need certain types of insurance, such as collision or comprehensive insurance. Practicing safe driving habits and avoiding traffic violations can help you qualify for the lowest long-term Progressive insurance rates. Before buying a new car, you should get an insurance quote and decide if the cost of coverage fits your budget or not. Other notable ways to lower the cost of car insurance for teens include reducing your teen's coverage and getting multiple quotes.
However, you could still get into trouble if the police or your insurance company decide that your driving without shoes caused an accident. Finally, if you're still struggling to pay for your Progressive policy, you should consider switching to another insurer. Many insurance companies offer discounts for driving well, having multiple cars, insurance packages, and more. There are very few scenarios where you can avoid paying the car insurance deductible, and if you have an accident, you don't want to have to pay more out of pocket than you can afford.
As you gradually increase and improve your credit, over time you'll begin to see a drop in your insurance premiums. Because your credit history is correlated with your likelihood of filing an insurance claim, Geico uses your credit data to calculate your premium in states where it's legal. Other ways to save include discounts for buying a new car, good grades in school, multiple policies, and even discounts on payments.