A new study suggests you can save yourself some money by driving less, and it might even help you avoid serious injury.
According to a new report from Accenture, the average American spends $17,200 per year on insurance, and that number has steadily grown since the 1970s.
According for the report, one of the reasons insurance companies charge higher rates for the same coverage is because they are trying to cover as many claims as possible.
That can lead to higher deductibles, and when you factor in the fact that you’re less likely to sustain serious injury, you’re also less likely actually to actually get the coverage.
To help get the most bang for your buck, however, you should be able to lower your costs on your car insurance, according to Accenture.
“You can also save money by choosing a better vehicle,” said Kristin O’Donnell, Accenture’s director of insurance and program development.
That means buying a vehicle that’s more reliable and that’s equipped with better safety features, such as electronic stability control, collision avoidance systems, and collision warning systems.
You should also consider a lower-mileage vehicle, such a compact SUV.
“If you have an SUV, it can be very important for you to drive in a city, but that’s where you can pay the least for the insurance,” O’Neill said.
If you’re not comfortable driving, though, you can always opt for a more affordable car like a minivan or minivan, which can have a smaller footprint and will have a more practical driver’s seat.
You can also take advantage of discounts on auto parts and repairs, which means you can get an auto insurance that’s cheaper than the ones that cost more.
“When you buy insurance, you usually have to pay for a few items like a mechanic, a car insurance company, and a car loan,” O’sonney said.
“So you can usually save a little bit of money by purchasing a vehicle with lower premiums and lower out-of-pocket expenses.”
The best way to save on your auto insurance costs?
Here are some ways you could cut your car’s insurance bill.
Make your car more efficient.
“I think it’s really important to drive a more efficient car,” said O’Neil.
“A lot of times, insurance companies make their rates based on the mileage of a car, and they don’t take into account the fact they are spending money on fuel.
And if they can save $50 or $100, it will save them a lot of money.”
This can save you money because it can reduce your out- of-pocket costs.
So instead of paying $250 a month for your car, you could pay $100 a month instead.
“By getting an engine-only model, they’ll save you $50 to $100 on your monthly payment,” O said.
Shop around for a better deal.
“Some people think, ‘Well, I’ve never had an accident before, so I can’t possibly know what I’m getting into.’
That’s not the case,” O-Naughton said.
You might not have to worry about driving while impaired, but if you do, it’s important to take extra precautions.
“For instance, if you are in a car that’s been involved in an accident, the first thing you should do is call 911.
If someone is there, the 911 operator can go in and help you get the car fixed,” O told Business Insider.
“But if you can’t call 911 because you’re at a red light, that’s when it’s time to call an auto repair company.
This is really important,” O added. “
The second thing you need to do is get your insurance company to cancel your policy.
This is really important,” O added.
Pay attention to your insurance bill once you make your purchase.
You have to keep an eye on your insurance payment to make sure it’s on time.
“One of the best ways to save money on your vehicle is to shop around for the best auto insurance company,” O suggested.
“It might not be the best deal, but they will help you to get the best coverage,” she added.
If your car has a limited warranty, O said, you might consider paying for a repair.
“With a limited liability, the vehicle owner can take a cut of the cost of the repair, and you’re saving money,” O noted.
Get more education.
“Be sure to have the most up-to-date driving safety information,” O advised.
“Even if you’re driving your car just for fun, you need that information in case you need help with your insurance or collision claim,” she said.
Take care of your insurance!
“You want to be cautious about what you put in your car,” O