6 Ways to Turn Expenses Into Savings
Boost your budget and cut these 6 nonessential costs.
By Dawn Klintworth
Gas prices, tight budgets and rising inflation – according to our recent survey1, 9 out of 10 people are concerned about achieving financial goals because of the current economy. With expenses running high, many people are looking for ways to save money. Because car insurance is a regular expense, you may be able to trim those costs. Consider these four ways to save money on car insurance.
You don’t have to have an accident to see your car insurance rates increased. Speeding tickets or other traffic offenses also make those costs jump. If you need an incentive to be on your best driving behavior, enroll in our DriverIQ program and start with a 10% car insurance discount that could increase to as much as 25% with safe driving.
Staying in good standing with the credit agencies can help save money on car insurance. Pay your bills on time and check your credit history often to make sure it's correct. You can access your credit history for free at www.annualcreditreport.com
Luxurious, sports and newer-model cars are expensive to buy and expensive to fix, so they cost more to insure. On the other hand, newer cars with sensors and other safety features don’t just give you peace of mind on the road, they can be safer to drive and help you save money on car insurance. The next time you’re car shopping, call your insurance agent to get rates on the make and model of the car you’re planning to buy. Think of auto insurance as one part of the cost of owning your car, and that could impact your buying decision.
Many companies offer car insurance discounts, and in some cases, you can qualify for more than one discount for greater savings. For example, when you insure multiple cars or bundle your home insurance and car insurance, you could get a discount. But taking a defensive driving class, keeping a good driving record, being a good student, or having a certain career could layer more car insurance discounts and add up to more savings. Check with your insurance agent to make sure you get all the discounts you can.
While you may explore trimming coverages or making changes to your deductible, talk with your insurance agent and make sure you completely understand the impact of those cost-saving changes. They could have long-term consequences if you have an accident or car insurance claim.
Whether you're looking for auto insurance or need to review your existing insurance coverage, contact your local COUNTRY Financial representative for a quote or to review your coverages or auto insurance discounts.
1The COUNTRY Financial Security Index® survey of 1,031 U.S. adults, fielded by market researcher Ipsos.
Discounts and availability vary by state.
COUNTRY Financial® is the marketing name for the COUNTRY Financial family of affiliated companies (collectively, COUNTRY), which include COUNTRY Life Insurance Company®, COUNTRY Mutual Insurance Company®, and their respective subsidiaries, located in Bloomington, Illinois.