Can you find a better deal on car insurance? | OkCarz

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How to tell if you’re paying too much for car insurance 

Car insurance is a necessary part of owning a car, and for a good reason. When you buy a vehicle, you’re putting everything into it. If you were to get into an accident without insurance, it could leave you financially devastated, which is why most states require drivers to carry at least some form of car insurance. While you don’t want to get caught without the requisite insurance, you also want to make sure that you’re getting the best possible rate so that your monthly payments don’t eclipse your earnings. If you think you might be paying too much for car insurance, here are some ways that you can lower your rates.  

Know your discounts 

If you’re a good driver, you might qualify for a good driving discount. In many cases, drivers who are without an accident within the last five years on their driving record are considered good, safe drivers who may qualify for lower premiums. If you’re a student or the parent of a young driver, you can check to see if your insurance provider offers good student discounts, which can lower your rate if you’re receiving good grades.  

Shop around for coverage

While there might be some benefits to remaining loyal to your insurance company, you could be languishing with a company that isn’t providing you with the best price for your insurance needs. Every so often, it can be good to reevaluate your insurance provider if you see increases in your cost. Online, there are plenty of tools that you can use to determine if your insurance is really the best deal around.  

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[Related: Insurance prices for new versus used vehicles]

Make sure your coverage fits your vehicle 

If you drive an older vehicle, you’re less likely to need coverage that will help replace your vehicle, since the total cost is probably much less than what you’re paying every month for comprehensive coverage. If you’re financing your vehicle, having comprehensive coverage might be a good idea, as it can help prevent you from going upside down on your loan, but on many older models you might end up overpaying for services that you don’t need.  

Learn more about your insurance options and other aspects of car buying when you visit the OkCarz blog. Drivers who are interested can find information on topics from financing to vehicle safety and much more on the dealership’s blog.

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