🔎 Disclosure: WE DON’T SELL ANY COURSES. Money Vice is reader-supported. When you buy through our links, we may earn a commission at no extra cost to you. The ideas presented on this site are opinions and are presented for entertainment purposes only. We’re not licensed financial advisors. The information presented should not be construed as financial or legal advice. Always do your own due diligence.
1. Drop Coverage You Don’t Need
You know that feeling when you realize you’ve been paying for something you haven’t used in years?
Yeah… that’s probably your car insurance coverage right now.
If your car’s old enough to have its own “vintage” nickname, you probably don’t need full coverage anymore.
Paying for comprehensive and collision on a car worth less than your deductible is like buying a diamond case for a flip phone. Pointless.
You can still keep liability coverage (because, well, the law), but trimming the rest might save you more than you think.
👉 Here's How You'll Do It: Check your car’s value on Kelley Blue Book, then call your insurer and drop extra coverage that costs more than what your ride’s worth.
📌 SAVE IT FOR LATER! 📌
2. Raise Your Deductible to Lower Payments
You know how your gym offers discounts if you “commit” to showing up more?
Well, your insurance works somewhat similarly to that. Except instead of sweating, you’re just agreeing to cover a bit more if something happens.
By raising your deductible, you instantly lower your monthly payment.
Sure, you’ll pay more out-of-pocket if you crash, but that’s a “maybe,” while those monthly premiums are a guaranteed hit.
It’s basically betting on yourself to be a safe driver. And honestly, that’s not a bad gamble.
👉 Here's How You'll Do It: Log into your insurer’s website and adjust your deductible from $500 to $1,000 to see how much your premium drops.
3. Review Your Policy Once a Year
Your insurance company isn’t your mom. They’re not going to call and say, “Hey, you’re overpaying again.”
So, yeah, it’s on you to check your policy once a year.
Rates can change fast, especially if your credit score improves or you move to a safer neighborhood.
Sometimes insurers even sneak in new discounts for things like telematics or safe-driver programs, but they won’t tell you unless you ask.
A quick policy review could be the easiest cash you ever saved. Zero effort, big reward.
👉 Here's How You'll Do It: Mark a calendar reminder every 12 months to compare quotes on Insurify or The Zebra before your policy renews.
Bonus Tip: Compare Quotes Before Renewing
Here’s a little secret your insurance company hopes you never figure out. Loyalty rarely pays.
You’d think staying with the same insurer for years would earn you a gold star and a cheaper rate, right?
Nope.
In fact, companies often raise prices quietly over time, counting on you being too busy (or too lazy 😅) to notice.
That’s why smart drivers shop around before every renewal. It’s like checking gas prices before you fill up.
And honestly, it’s never been easier.
Sites like Insurify let you compare multiple insurance quotes in minutes, showing you real prices side by side so you can grab the best deal without all the phone calls.
👉 Here's How You'll Do It: Head over to Insurify, enter your ZIP code, and instantly see which insurer offers the lowest rate for the same coverage you already have.
4. Keep a Clean Driving Record for Better Rates
Think of your driving record as your insurance report card. Except the grade costs you hundreds.
Every ticket or fender bender sends your rates flying higher than Miami rent in July.
But here’s the twist. Staying clean for a few years usually resets your score, and many insurers will lower your rate automatically.
So yeah, maybe skip that “Fast & Furious” audition at the red light.
The fewer claims, the cheaper your future premiums. Easy math.
👉 Here's How You'll Do It: Use apps like EverDrive or your insurer’s safe-driver program to track habits and earn safe driving discounts.
5. Maintain Good Credit for Cheaper Premiums
Here’s the thing no one tells you. Your credit score doesn’t just affect loans or credit cards.
It affects your car insurance rates, too.
A higher credit score tells insurers you’re less likely to file claims, so they reward you with lower prices.
So every on-time payment and lower balance helps your driving wallet, even if you never leave your driveway.
Good credit = cheap insurance = more tacos on Friday night. Win-win.
👉 Here's How You'll Do It: Use a free app like Credit Karma to monitor your score and set autopay on your bills to keep it high.
📌 SAVE IT FOR LATER! 📌
And that’s it!
Never forget it…
🍔 A Bigger Bank Account Is Waiting For You!
😉 Dale!
