Driving is a necessary part of life but operating a car can be very expensive. In fact, it is estimated that the average monthly cost of keeping a car in the United States is $563, not including money lost due to depreciation. And, with all expenses, including fuel, increasing due to inflation, it’s now more important than ever to make sure your car bills are optimized. Here are 5 simple tips for reducing your car expenses.
Find Your Most Economical Insurance Policy
Insurance is one of the most expensive parts of running a car, so it is important to know that you are getting the best deal. Therefore, whether you’re looking for the cheapest car insurance Illinois or anywhere else has to offer, it’s always worth checking multiple price comparison websites to determine the optimum price for your insurance policy. It’s also worth considering whether paying for a policy with less comprehensive cover could be more economical for you in the long term, depending on how valuable your car is.
Get Creative to Reduce Insurance Premiums
Outside of which insurance provider you choose, there are several other ways you can slash the amount you pay for your auto insurance premiums. For example, increasing your voluntary excess and switching from paying your premiums monthly to annually can save you substantial amounts on your premium. Similarly, maintaining your no claims bonus can reduce the amount of your premiums by up to 80%, depending on your provider. Elsewhere, younger drivers may be able to decrease their insurance costs by adding a more experienced driver to their insurance policy.
Drive Carefully
Surprisingly, the way you drive can have a noticeable impact on your expenses. Driving gently and carefully, for example, can reduce the amount of strain put on your car, thereby decreasing the amount of maintenance required. It can also decrease the likelihood of your involvement in an accident, which would obviously erase your no claims bonus and increase the cost of your premiums. Finally, things like braking and turning sharply consume significantly more fuel than doing so gently.
Only Drive When Necessary
Next to insurance premiums, fuel costs are the other major expense associated with running a car. Naturally, therefore, one of the best ways to save on your monthly car costs is to use the vehicle less. While certain trips like daily commutes may be unavoidable, pre-planning car use can help avoid those unnecessary journeys which could be avoided. Setting up a car-sharing system for regular journeys like commutes can further reduce the amount you spend on fuel.
Avoid Minor Repair Costs by Doing Them Yourself
Regular maintenance work is necessary for any vehicle to avoid the development of more major issues. However, this can be a substantial cost, especially when minor works are often not covered by insurers. Learning to do things like changing fuses, oil, and tires can therefore be a useful way of saving money in this respect. Avoiding claiming on your insurance for such repairs can also help retain your no-claims bonu
