Having a vehicle is a big convenience and, at the same time, a big responsibility. One of the many things that every car owner considers is the cost of regular maintenance and car insurance. Here are some ways with which you can cut car insurance costs and keep a bit more of your hard earned money for yourself, without sacrificing you and your family’s safety and security.

road safety

Choose Your Ride

There are certain makes and models have higher insurance rates, sports cars having the highest rate. Also, there are cars that are called “prime theft candidates”. You will be given more expensive car insurance quotes for these kinds of cars. In order to minimize the cost, make sure that you choose a vehicle that is not considered a prime theft candidate.

How You Drive

Yes, your driving skills and habits play a part in your insurance costs. Companies factor in things such as your history of accidents and speeding tickets with your risk profile. So, drive carefully. If you don’t already know, safe driver discounts can be granted by insurance companies.

Anti-theft and Safety Devices

If you haven’t already, install anti-theft devices in your vehicle. These devices play a role in your risk profile, too. Keep in mind that a car that is less at risk for theft is cheaper to insure. Of course, you’d have to declare these devices with your insurance company so they will take them into account when assessing your risk profile.

Auto insurance companies are not made equal. Make sure you shop around for the best price that covers all your needs.

Debt. Nobody wants to be in debt. Sure, some may say that it is impossible to not incur debts. But think about it, as long as you have debts to pay off, financial independence is impossible. Building a savings account will be very difficult, in fact it may take a long time to accumulate enough savings if most of what you earn will only go to paying off debts.

I have never used a credit card. I have never even tried applying for one. Although some people may say how convenient it is to have a credit card during emergencies, I still stick to debit card. I don’t have a lot of savings, but as much as possible, I try not to be in further debt.

I have nothing against credit cards, it’s just that it is so easy to be tempted to splurge in a shopping spree that I can’t really afford, right?

What about you? Do you avoid credit cards like a plague or are you one of those who find convenience in them, even if it means paying more than you really want (i.e. interest rates and other fees)?