11 Money-Saving Tips Your Insurance Agent Wishes You Didn’t Know

Car insurance companies prefer you stay in the dark about some of these little-known ways to save.

Driver using smartphone GPS while driving
Updated July 18, 2024
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Auto insurance helps you pay for expensive repairs after an accident or other mishap. But at the end of the day, an insurance business is still a business, which means it exists to make money.

As a result, your insurer might not rush to tell you all the ways you can cut insurance costs and get ahead financially.

Here are some insider tips on how to make insurance work better for you. Keep reading to start saving.

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Shopping around can get you better rates

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It might be tempting to settle for the first car insurance offer you find, but resist the urge to seal the deal before shopping around.

Shopping around, gathering quotes, and selecting the best policy is a great way to save money on car insurance. You might find that a seemingly sweet deal isn’t as good as you thought it was once you compare it to policy options from other providers.

You can fight back if an insurer denies your claim

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If you submit a claim that your insurance provider denies, you don’t have to resign yourself to paying for everything out of pocket.

Instead, carefully review the denial. Then, get in touch with your provider directly to ask more questions about its decision, including what you can do to appeal and whether the company needs additional evidence to reevaluate its decision.

Rates might be higher simply because of where you live

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Some areas of the country are more expensive places to live than others. Those higher expenses might include the average cost of insurance.

Even within the same city, some neighborhoods will likely have higher insurance costs than others.

While you can’t do much about the cost of living in your current area, consider local insurance rates as you strategize your next move. At the very least, you will want to account for the increased insurance costs in your future budget.

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Gender can impact how much you pay for insurance

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Women can end up paying slightly less in insurance over their lifetime, in part because many insurance companies consider teenage boys the highest-risk drivers to insure.

Unfortunately, there’s not much you can do to eliminate rate discrepancies between genders. But you might be able to save by shopping around for insurance.

For instance, according to one study, some insurers charge women in their 30s slightly more than they charge men of the same age. At other insurance companies, the opposite is true.

Comparing rates and gathering multiple quotes can help you get a better read on whether an insurance company might charge you more or less based on your gender.

An insurance guide might help you find lower rates

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Instead of calling around to multiple companies and asking for quotes, find out if your state publishes a buyer’s guide.

Googling your state’s name plus “insurance buyer’s guide” might get you a state-approved, unbiased overview of insurance rates in your area, which can save you time and energy as you narrow down possible insurance providers.

Your credit score might impact how much you pay

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There are plenty of reasons to keep a sharp eye on your credit score, including the fact that a lower credit score might result in a higher insurance rate.

In many states, insurers use credit-based insurance scores when setting rates. In these places, keeping your credit score as high as possible and monitoring your score for fraud can maximize your chances of lowering your insurance rates.

Improving your credit score can cut your costs

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If you managed to increase your previously poor credit score by paying bills on time and getting rid of debt, don’t hesitate to gather new quotes based on your improved credit.

You might find that it’s worth switching to a new provider who will reward your good credit.

Marital status can impact how much you pay for insurance

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For better or worse, insurance companies tend to consider married couples safer drivers than single individuals.

Whether you are married or not, be aware of how your marital status will impact the quotes you get. And if you got married recently, make sure to ask for new quotes when you update your car insurance.

What you post on social media can hurt your insurance claim

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Before you file an insurance claim, make sure the evidence you submit can’t be contradicted by any recent social media posts.

Plenty of insurance cases have been undone by public Facebook or Instagram posts. So, your best bet is to stay off social media until the claim is resolved.

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You might qualify for additional discounts

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Consider reaching out to your insurance agent and asking if it offers discounts you aren’t aware of, such as price breaks for students who earn good grades.

You might never know about these discounts if you don’t ask.

You can save by letting an insurer monitor your driving

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Some insurance companies offer app-based programs that monitor your driving and reward you based on good driving behavior. The app tracks where you drive, how fast you drive, and how you interact with other drivers.

As long as you are a safe driver, the app could work in your favor by saving you money and improving your financial situation. But beware that monitoring can backfire if you engage in bad driving behaviors.

Bottom line

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Car insurance is a valuable tool for protecting yourself in the event of an accident, and it’s a legal necessity in nearly every state. Going without simply isn’t an option.

But don’t make the mistake of thinking you are automatically getting the most out of a policy because there is a good chance you are not.

Dig a little deeper into the ins and outs of car insurance to make sure you boost your bank account by saving as much money as possible.

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Author Details

Michelle Smith

Michelle Smith has spent a decade writing for and about small businesses. She specializes in all things finance and has written for publications like G2 and SmallBizDaily. When she's not writing for work at her desk, you can usually find her writing for pleasure near large bodies of water.