Bookmark and Share
RecessionInfoCenter.com LLC. All rights reserved.
Recession Info Center
Please visit our disclaimer page before using this site.
Recession tips: Reducing your car insurance bill in recession:

There are many ways to shrink your budget expanses in recession.  And car insurance is
one of those expanses. Here are some recession tips on car insurance to take into
consideration:

  • Ask if you qualify for any discounts: Ask your insurance provider about different
    discounts available for their members. Insurance policies change often so it is a good
    idea to keep yourself updated about any changes you may qualify. For example:

  1. Most insurances offer discount for drivers who drive less than an average
    driver (fewer than 12,000 miles a year).
  2. The elderly may qualify for various available discounts.
  3. Students who maintain GPA 3.0 or better are also may qualify for discounts
    by some insurance companies.
  4. Cars with particular safety features often qualify for additional discounts.
  5. Some insurance companies give discounts to military families.
  6. If you are a parent of a teen who is moves out or goes to college, you may
    qualify for discount since he/she does not drive your car anymore.  
  7. Sometimes, some insurance can decrease monthly payment if you are willing
    to combine car and house insurance with them.

  • Be a good driver: Driving carefully saves you in many ways. You avoid tickets and
    save on mechanical, gas and insurance bills. Keeping good driving records should be
    a priory for you especially during bad economic time.

  • Shop around before and after purchasing insurance: Before buying an insurance
    get several rate quotes.  It is always good to compare and contrast. Also keep in
    mind, insurance policies change very often so if you think you got a great deal on
    your car five years ago, check if it’s still is good. To compare insurance price
    policies, start with the internet.

  • Consider safer features for your car: When you are looking for a new car for
    yourself always consider the safety features. It is not only good for your safety, but
    also good for cutting insurance cost.  Most insurers take the auto performance
    seriously, so check for “crash-test” data available at iihs.org and safercar.gov before
    making a decision.

Finally, if you are thinking about decreasing costs on your car insurance, make sure that
you will not under-insure yourself.  The best approach to this is to educate yourself about
different options and choices you have. Ask insurer for advice, but remember that they are
sales people.