GREENSBORO, N.C. — Another day, another bill to pay. Which means we're all having to figure out where we can save. Let's talk car insurance. Consumer Reports has several recommendations.
RAISE YOUR DEDUCTIBLE
You can save on your monthly premium by raising your deductible. A $1,000 deductible versus a $500 deductible can reduce your premium by more than 10%. Just know, an accident could cost you more.
Tracking Programs like State Farm's "Drive Safe & Save Connected Car" and Progressive's "Snapshot" use technology to track your driving habits.
Many drivers will get a discount right out of the gate, but Consumer Reports says there's a cost to this savings too.
“You're looking at a privacy tradeoff. So, if you're willing to give up some of these details about where you're going and how you're driving, how often you're driving
then you might see some benefit, but if you don't want the insurer riding shotgun with you then you might say no to some of these programs,” said Kaveh Waddle of Consumer Reports.
BE A SAFE DRIVER
Even if you don't want to get tracked, being a safe driver will still reap rewards. One driving violation can quickly raise your rates.
BUNDLE YOUR INSURANCE
Once you’ve found the right insurer, CR says bundling is the best way to get a big discount.
That means buying your homeowners and auto coverage from the same company, which can save up to 30 percent. Think about extra items to bundle, like coverage for a boat or motorcycle.