5 Things You Can Do Right Now to Save On Car Insurance

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

There are plenty of tips, hacks and tricks to help you meet your monthly budget. But if you find yourself saving money in labeled envelopes for months for a 2-day vacation or obsessively organizing coupons that expire before you get to use them and STILL coming up short, it may be time to switch to some more well-traveled paths.

The following steps aren't the next innovative trick from your favorite life-hack influencer -- but they are tried-and-true methods that will reduce how much you're spending on car insurance and put some money back into your wallet.

Step 1: Shop Around For Car Insurance  

Shopping for car insurance may not sound like the most fun, but having extra money in your pocket always makes for a good time. Don't miss out on a better price by getting too comfortable with your current policy. 

The best way to shop around for car insurance is to use Benzinga's car insurance quote comparison tool, or a service like Policygenius. This will allow you to see all of your available insurance options side-by-side. With all the information about each insurance plan in front of you, you can make the most informed decision and ensure you're getting the best possible price.

Step 2: Enter to let Benzinga Pay Your Car Insurance 

Saving money usually requires some heavy lifting, but not always. Does reducing how much you'll pay in car insurance this year by $1200 just by filling out a form sound like a good way to save some extra coins in 2021? Yeah, us too. 

That's why we're going to pay $1200 of one person's car insurance. We know it's been a tough go for the past 12 months, and we want to keep giving back to Zinger Nation -- it makes us feel good to see all of you winning and living your best lives.

Entering to win to let Benzinga pay your car insurance is super easy -- just visit this page to submit your entry anytime before August 1, 2021.

3. Take Advantage of Discounts

The dreaded word: 2020. The year when we went from watching the miles tick up on your car in record time to not leaving our couch for days...or months...and suddenly it was 2021. Thankfully, many insurance companies saw the absurdity of paying full price for an insurance plan you aren't actually using and responded by cutting costs and offering discounts. 

Whether this is old news or new...news, do you know for sure that you're maximizing your available discounts and paying the lowest possible price? Insurance is expensive, so any reduction in overall cost is well worth the effort of double-checking with your provider.

Get in touch with them to see what type of relief they can offer you. And if your policy didn't budge, or your premiums went up during COVID-19 -- it might be time to shop around for a new one.

4. Check Your Credit

A lot of things can affect your insurance premium. The type of car you drive, your driving record, where you live and more. But did you know that your credit can affect how much you're paying, too? That's why it's so important to keep your credit in good shape.

If your credit needs work, don't worry -- there's plenty you can do to boost your score. Repairing your credit takes time, but getting started is usually more intimidating than the actual process. Take a deep breath and check that credit score, even if you're scared of what you'll see. And then? Get to work.  A good credit management app can help you strategize. Or use these tips to get started. 

5. Practice Mindfulness

If you're wondering when you wandered out of an article about saving money on car insurance into your Sunday yoga class, don't worry, we're still with you. While practicing mindfulness can be beneficial in almost any area of our lives, we mean -- be mindful while driving. Safe, careful driving -- and the absence of oopsies, uh-ohs, fender benders and speeding tickets -- will do wonders for keeping your car insurance premiums low.

Know you're a super safe driver, or see something on your driving report that doesn't quite add up? Don't be scared to call your insurance company to negotiate your rate or correct any errors. You never know until you try.

Pay Less This Year for Your Car Insurance

Dealing with car insurance -- and the considerable dent it puts in your finances -- isn't always the most pleasant, but it feels a lot better if you're paying the lowest price possible. With a little work on your part, you could see yourself with a lower payment next month, saving you money overall. 

And, don't forget to enter to have Benzinga pay your car insurance. That's an automatic $1200 off the total you'll pay for car insurance in 2021, and all you have to do is submit an entry by August 1, 2021.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.