As Ford F-150 drivers already know, full-size trucks can cost a fortune to insure. If you’re paying too much to insure your F-150, why not shop around for a more affordable policy? Rates vary widely by insurer, and not all insurers offer low-cost rates to owners of full-size trucks, so shopping around could save you hundreds of dollars each year. There are plenty of effective ways to keep costs low. Here are 9 easy ways to save money:
1. Increase Your Deductible
Increasing your deductible will lower your premium significantly. Filing a claim will cost you more out-of-pocket, but if you’re a safe driver who doesn’t file claims often, you might save a bundle in the long run.
2. Multi-Line Insurance Discounts
The most under-recognized car insurance discount is one of the best: a multi-line discount. According to the Insurance Information Institute, purchasing your auto and home insurance policies with the same company could save you up to 15 percent on both premiums.
3. Good Student and Senior Discounts
Students with good grades often receive lower auto insurance premiums, as many companies feel conscientious students make conscientious drivers. Similarly, insurance companies value the wisdom of experienced drivers, offering discounts to drivers over 50.
4. Safe Driver Discounts
It’s tempting to let loose and zip around town like a race car driver in an F-150, but if your driving record is clear of tickets and accidents in the past three to five years, ask your insurer if you’re eligible to save money with a safe driver discount. If your insurer doesn’t offer this discount, search for an insurer who does.
5. Discounts for Safety Features
Many car insurance companies offer discounts for various safety features on your vehicle, including air bags, security alarms, factory-installed mechanical seatbelts and antilock brakes. When getting a quote, be sure you mention your vehicle’s safety features to take advantage of these discounts.
6. Drive Less, Pay Less
If you keep a low annual mileage, a number of insurers will offer you a low-mileage discount. This is especially true if your commute has changed or you take alternate transportation to work.
7. Drop Unnecessary Coverage
Are you paying for coverage you already have? For example, you may be a member of an auto club that provides towing services, yet you're also paying for towing on your car insurance policy. Save money by eliminating unnecessary coverage.
8. Pay in a Lump Sum
If you pay in installments, you’re paying more for the same coverage. Fees are applied to drivers who don’t pay their premium in a lump sum. Be aware that a monthly fee of just $7 can add up to $84 over the course of a year.
9. Don't Overpay for Tickets
If you’re tagged with a ticket, your car insurance rates could increase. But who says you have to be a prisoner to your car insurance company? Don't let your insurer unduly punish you--shop around and see if you can find a more reasonable rate with another company.
See? Pricey F-150 premiums are not a foregone conclusion if you follow a few basic money-saving tips. Visit InsWeb.com to shop and compare quotes from several different companies.
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