Car insurance premiums increased 19.5% between June 2023 and June 2204, according to the Department of Labor’s July 2024 Consumer Price Index. ; The reasons are many and include lingering inflation, the rising cost of repairs, an uptick in severe weather and the number and severity of accidents. ; Even though rates are on the rise, you don’t have to break the bank to pay your premiums. Here are tips to get the best price on car insurance.
Key Takeaways: ; Many factors influence car insurance premiums, but taking advantage of the multiple discounts most insurers offer can reduce your costs. ; Combining individual discounts, no matter how small, can lead to substantial annual savings, so be sure to take advantage of everything you’re eligible for. ; When shopping for a new policy or renewing an existing one, ask about new discounts to maximize your savings.
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EFT, pay-in-full and good payer discounts · You can save based on how you choose to pay. You could save when you pay your car insurance premium in full. Or save by paying with electronic funds transfer (EFT), payroll deduction or by consistently paying your premium on time.** ; Early quote discount · If you’re new to Travelers and get an auto quote before your current policy expires, you may be eligible for a discount on your Travelers auto insurance, depending on how far in advance you shop for your policy.** ; Driver Training Discount · To encourage young drivers to sharpen their skills with driver training, we offer a discount for those drivers who have successfully completed an approved driver education course.
Depending on the company, you may also get a bundling discount on your other policy (home, condo or renters). You can usually grab this multi-car insurance discount if you insure more than one car with the same insurance company. Typical discounts advertised are up to 8% to 25%. If your car has safety equipment like anti-lock brakes, airbags, and daytime running lights, you may get a discount. Daytime running l ...
auto insurance and homeowners insurance, you can usually get... discount to drivers who insure two or more vehicles on the same car insurance policy. Online purchase: Some insurers will...
How to find cheap car insurance? Find out ways to get cheaper car insurance quotes from price comparison sites and how to haggle with car insurance companies to save money. Which company gives chea...
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