The start of the New Year is a time when people’s thoughts turn from parties, feasts and vacations to fresh beginnings, healthier living and improved money management.  Budgeting, paying down debt and building your savings account are all important ways to be fiscally responsible. Making some simple adjustments to your auto insurance policy may also help you save money to put towards achieving your financial goals in 2019.

Here are five quick insurance tips that could save you some money.

1. Bundle Your Policies. Do you have an auto insurance policy with one company and a homeowners or renters insurance policy with another? Bundling your policies not only makes things easier by having everything in one place, but it may also lead to nice a discount. Mercury Insurance, for example, provides up to a 15% discount on both your auto and homeowners policies when purchase them together.

You might also be a candidate for a discount if you insure more than one vehicle with the same carrier, but discounts may vary by state, so check with your insurance agent to learn more.

2. Pay in Full. Auto insurance premiums are typically offered in six-month terms. While you may be given the option to pay in monthly installments, paying your full premium up front might qualify you for a discount.

3. Increase Your Deductible. A deductible is the amount you would have to pay out-of-pocket for damages to your vehicle before your insurance would kick in if you make a claim.If you’re willing and able to pay a higher deductible in the event of a collision or other damage to your car, your insurance premium will most likely go down.

4. Limit Your Mileage. The number of miles you drive impacts your insurance premium – the more you drive, the higher the risk of getting into a collision. Consider leaving the car in the garage or driveway and carpooling or taking public transportation when possible, and be sure to report your lower mileage to your insurance agent. Driving less can help lower your insurance premium, and it also comes with an added benefit – it’ll also save you money on gas.

5. Factor in Teen Drivers. It’s no secret – teen drivers are more likely to get into a collision than any other group of drivers, due in part to inexperience and a higher willingness to take risks. Parents of teen drivers are sure to see their insurance premiums go up, so before your son or daughter gets their license you might want to shop around. Rates for teen drivers can vary dramatically, so get a quote from several different companies, because you could end up saving anywhere from a few hundred dollars to a thousand dollars or more.

And here’s one final tip for parents of teen drivers: take the time to teach them how to drive. Education is an important factor in teens becoming better drivers and parents play a very big role in this process. 

Armstrong Insurance and its agents are ready to help you save!