The Best Car Insurance Advice from Reddit

photo of the reddit logo on the website homepage

Where can you turn to get answers to your auto insurance questions? Sure, you might ask a trusted friend or parent. You might even turn to the old trusty Google, but what about Reddit?

Reddit is a discussion website allowing everyday people to ask questions and get answers. Personal finance is a popular category that leads to many questions being asked on auto insurance topics. 

While every answer isn’t reliable, you can get some good information from these Reddit discussion boards. That’s why we’ve put together a list of the best car insurance advice from Reddit threads. 

Shop Around to Compare Auto Insurance Quotes

Someone posed a question about how to save on auto insurance when you’re under 25 years old. This is a common question for young drivers because this age range tends to pay the most for auto insurance. 

Here’s what “sephiroth3650” had to say in response to this question. 

Best car insurance advice from reddit

One of the best things you can do to save money on your auto insurance is compare quotes. This message is in response to a driver under 25 years old who wants to know how they can save money. Not only does the responder share that your auto insurance is likely to be higher when you’re in this age group, but they recommend that you get quotes from several auto insurance companies to see if you can save. 

When getting quotes you’ll learn that rates can vary drastically for the same coverage, so it’s likely you’ll be able to secure coverage with a different company at a lower rate without sacrificing quality. 

Another important point to note is that you need to be sure you’re comparing apples to apples. If you just ask a friend how much they’re paying, but you have different coverage levels, you’re comparing apples to oranges, so it doesn’t really tell you if their insurance company will get you lower rates as well. 

The best thing you can do is use an auto insurance comparison calculator to compare rates and see which company can offer you the best price. 

Don’t Allow Your Auto Insurance to Lapse

A driver posed the question – should I cancel my auto insurance for a couple of months since I won’t be using it. This is a thought that I’m sure has gone through many people’s minds when they knew they wouldn’t be driving for a certain period. While it sounds easy enough to just cancel your policy and start it back up when you’re ready, it’s not that simple. 

Here’s what “t-poke” had to say in response to this question. 

Best car insurance advice from reddit

Going any period without auto insurance can be costly. Let’s say you know you won’t be driving for several months and choose to cancel your policy. You’ll find that once you replace your policy you’ll be paying more than you did in the past. That’s because auto insurers now see you as a high-risk driver and will set your premium accordingly. 

Instead of canceling your insurance altogether, it’s often better to decrease your coverage, see if your insurance company offers a storage only policy that you can use temporarily or just keep your coverage as is. Otherwise, with your rates increasing, you’ll likely wind up paying more in the end. 

Also, keep in mind that if you have a loan or lease on your vehicle, your finance company will still require you to carry the appropriate level of insurance to protect your interest, so in this case you don’t have much of a choice. 

If You’re at Fault You Can’t Choose Whether the Other Party Uses Insurance

One driver came to Reddit wondering if they could convince the driver they were in an accident to skip out on filing an insurance claim. 

“Nails_for_Breakfast” had the perfect response to this dilemma. 

Best car insurance advice from reddit

Let’s say you rear end someone but the damage is miniscule (or so you think). You’d rather pay for the damages out of pocket, but the driver you hit wants to go through their insurance company. Ultimately, you have no rights in this situation. The other driver who’s not at fault doesn’t have to skip insurance and let you pay for the damages. That’s why auto insurance exists. Whether damages are great or small, your insurance is there so drivers don’t have to work with the other drivers directly and instead, their insurance company can offer financial protection while being the go-between for the two parties. 

Look at Pay-Per-Mile Insurance Plans

With increased auto insurance prices over the last few years, everyone is looking to save money and the driver who asked this question is no different. They were looking for ways to save and when the topic of pay-per-mile insurance popped up, “mrandre3000” chimed in about how it saved him big time over several years. 

Best car insurance advice from reddit

Thankfully, some auto insurance companies are using technology to help you save on your auto insurance. There are telemetric programs and pay-per-mile insurance programs that allow you to pay based on how much you drive instead of paying a flat monthly fee no matter how much you’re behind the wheel. 

With most pay-per-mile insurance programs, you’ll be assigned a low flat monthly rate. Then, you’ll pay an amount for each mile you drive that month. So, if you have a short commute, work from home or don’t drive your car often, you might find great savings by switching to one of these programs. 

Consider the Financial Risk You’re Willing to Take

It’s common to question whether you have too much or not enough auto insurance coverage.  While all states have minimum auto insurance coverage requirements, any additional coverage you select is up to you. 

“Imthe801” gave a pretty good response to the question that makes you consider how much risk you’re willing to take when considering how much auto insurance to secure. 

Best car insurance advice from reddit

While we know it’s annoying to pay for insurance you might not use or rarely use, in many cases it’s worth the protection you’re gaining. If you’re asking yourself whether you should drop coverage in order to save on your premium, you have to ask yourself whether you can financially handle the worst case scenario taking place. 

For example, if you drop collision and comprehensive coverage, can you afford to pay for all of your medical and vehicle related expenses if your car is totaled. In that case, you might choose not to continue carry coverage. However, if you know it would bankrupt you, then it’s probably a good idea to maintain these coverages because doing without isn’t worth the financial risk. 

There Are Many Ways to Save on Your Premium

There’s more than one way to save on your auto insurance premium. Yes, you can shop around and compare rates, but it doesn’t stop there. Another option is to increase your deductible. In agreeing to pay a high deductible, you’ll lower your insurance premium? Why? Because auto insurance companies know you’re agreeing to pay a greater amount before your insurance coverage kicks in. So you’re less likely to file a claim, decreasing how much they’ll have to pay while you’re covered under them. 

Best car insurance advice from reddit

This is a much better way to save on your insurance compared to dropping collision/comprehensive coverage or decreasing your coverage limits. 

The only thing you have to keep in mind is that you need to be able to afford to pay the deductible before your insurance protection will kick in. So, if you know you won’t be able to come up with $1,000 if you’re in an accident next month, don’t set a $1,000 deductible. 

Cancel Your Policy in the Right Order

Having a lapse in your auto insurance is easier than you might think. Let’s say you’ve decided to cancel your policy. You might think you can cancel your plan then sign up with a new policy the next day. Even one day without insurance is considered a lapse and makes you a high risk driver in the eyes of auto insurance companies. 

Best car insurance advice from reddit

The best thing you can do is sign up for your auto insurance and get the date your new policy will become active. Then set the cancellation date for your current policy to a couple of days after the new one starts. This allows you to be safe and ensure you won’t have a lapse on your policy. 

Get the Max Amount of Coverage You Can Afford

Best car insurance advice from reddit

When you’re left wondering how much auto insurance you should get, the best thing you can do is secure the max amount of coverage you can afford.  That’s because as the respondent said, you never know whether you’ll be involved in an accident with a brand new Tesla or a $1,000 Honda Accord. Either way, even if the vehicle isn’t damaged, with the rising cost of healthcare expenses, you could be on the hook for expensive bills if you don’t carry enough coverage to pay for the bills through your insurance policy. 

FAQs About the Best Car Insurance Advice on Reddit

How do I get the best car insurance rates according to Reddit?

According to Reddit, the best way to get good car insurance rates is to compare quotes from different companies. Shopping around allows you to see which company can offer you the best premiums without sacrificing quality coverage. 

What’s the best car insurance right now?

Many factors go into whether an auto insurance company is considered the best. So, while it’s tough to give a cut and dry answer without adding more context, if we look at overall ratings, State Farm, Farmers, Nationwide, and GEICO are some of the best insurers on the market. 

Can I ask my insurance to lower rates?

Yes, you can discuss how to get lower rates with your auto insurance company. While they might not be able to lower your premium outright, they might let you know you’re eligible for a discount that can save you 5-30% or more on your premium. 

Compare Car Insurance Quotes