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Car insurance is one of the expensive purchase people often make. Though it can be costly, what you’re paying for is the financial peace of mind you can get from having a car insurance that will cover any your expenses in the event of vehicle damage or injuries to other drivers and passengers. While it’s important to get the right coverage, here are some tips to help you save money on your car insurance premiums:

Check Annual Rates

If you already have a car insurance and you’ve been with the same insurer a long time, it might be difficult to beat its rates, especially if you haven’t had any claims recently. You might want to compare annual rates to different insurers. If you’re looking for a comparing website, you can just compare car insurances with GoBear.  

Consider Multi-Vehicle Savings

Have more than one vehicle? It’s always a good idea to insure all your vehicles in one insurance provider. You can get a discount from insurance companies insuring multiple vehicles, which will save you a percentage on each policy.

Look for Higher Deductibles

As a rule of thumb, the higher your deductible is, the lower your insurance premiums will be. If you can afford to have a higher out-of-pocket cost if something happens to your car. Choosing a 13,000 PHP deductible instead of a 6000 PHP deductible to save can reduce your premium on collision by 15 to 30 percent. 

Take Advantage of Discounts

Most insurers offer a whole range of discounts that are essentially based on a low-risk lifestyle. If you don’t know what kind of discounts are available, you can ask your insurer if you qualify for one. 

Choose Your Car Wisely

When you’re getting a car insurance policy, the kind of insurance you prefer, the kind of vehicle you own, and the age of your vehicle will affect your rate. Your insurer will also check on how often a vehicle is stolen. Before purchasing a new (or newer) car, be sure to check if it can show you the difference in theft and claim rates for different vehicles. By selecting a lower risk car can lower your annual insurance premiums.

Shopping for a car insurance probably isn’t something one would enjoy. But since it helps a lot of people cut their expenses, looking for a car insurance that’s cheaper is well worth it.

While it’s not fun shopping for a car insurance, make your shop online easier by comparing car insurances with GoBear today!