Inflation is affecting the cost of housing, groceries, petrol, and now auto insurance in North and South Carolina. Industry and media estimates indicate that auto insurers may increase premiums this year by 6% to as much as 10%.
You might be able to find ways to save money if you know what’s driving up the cost of your auto insurance. Here are the strategies to assist you to keep your cost of auto insurance in South Carolina as low as possible.
Combine your insurance coverages
Combining your house and auto insurance plans, which includes purchasing several insurance policies from the same provider, is one of the simplest methods to save money on insurance. Benefits of combining your house and auto insurance can include:
Higher savings: The savings from a multi-policy discount could reach 25%, depending on the provider and your location. Streamlined handling of policies. Managing various policies that are issued by the same firm should be easier.
Security insurance: Having additional insurance plans with the same provider can reduce the likelihood that your insurer will dismiss you if you’ve filed auto insurance claims or received citations.
Limit your mileage
You might be qualified for a discount on your auto insurance if you can figure out a way to drive less. Your annual mileage is a factor that insurance companies use when determining your rate. By carpooling to work, commuting by bike, using the bus, or choosing to work from home occasionally, you can potentially cut your annual mileage.
Additionally, some insurance providers offer usage-based insurance that is electronically monitored and based on your driving patterns.
Don’t try to cut back on coverage to save money
The National Highway Highway Safety Administration reports that the number of traffic fatalities is currently at a 16-year high (NHTSA). Roadways in North and South Carolina are significantly riskier now than they were in the past.
- The rise in fatal traffic accidents is being ascribed to several factors, including an increase in risky driving behaviors including distracted driving and speeding, a drop in routine car maintenance (presumably due to increased prices), and a return to pre-pandemic traffic levels.
- Drivers shouldn’t lower their auto insurance coverage to save money because car accidents in North and South Carolina are on the rise. If you only have a small amount of coverage, it could cost you a lot more money if you are hurt in an auto accident.
Boost your credit rating
Numerous individuals disagree with insurance companies’ use of your credit score as one of the variables in deciding how much you pay for auto insurance.
The good news is that you can save hundreds of dollars a year every time you move up a tier (for example, from Average to Good). You would save $1,408 a year if you started at the bottom (Poor) and worked your way up to where you are now (Exceptional). If you are living in Carolina, and looking for car insurance quotes in Georgia, then you can contact us.
