Riding Solo: How To Get The Best Auto Insurance Rates For Single Drivers

​Being a single driver can have its perks: freedom, flexibility, and the ability to choose your own car. However, when it comes to auto insurance, single drivers may face higher premiums compared to married individuals. While married drivers are often seen as lower-risk policyholders, single drivers can still secure the best possible auto insurance rates with a little effort and knowledge. In this blog, we’ll walk you through strategies and tips to help you get the best auto insurance rates if you're riding solo.

1. Understand Why Single Drivers Pay More
Insurance companies determine auto insurance premiums based on a variety of factors that signal risk. While marital status is not a direct risk factor, statistics show that married drivers tend to have fewer accidents and file fewer claims, making them a lower-risk group. Since insurers base premiums on risk, single drivers may be seen as a higher risk, and therefore, their premiums can be higher.

However, being single doesn’t mean you have to pay exorbitant rates. By taking proactive steps to lower your risk profile, you can still find affordable coverage.


2. Opt for the Right Coverage for Your Needs
As a single driver, you might not need the same level of coverage as a family with multiple drivers. One of the easiest ways to save on auto insurance is by choosing the right amount of coverage for your situation.

• Liability Coverage:
  If you're driving an older or less valuable car, you might not need comprehensive or collision coverage. In some cases, liability insurance, which covers damages you cause to others, could be sufficient.
  
  
• Full Coverage:
  If you drive a newer or high-value car, you might want full coverage, including collision and comprehensive, which covers repairs or replacement of your own vehicle in case of an accident or damage.

Remember that the state you live in will set minimum liability coverage requirements, but opting for more coverage than the minimum could provide better financial protection.

3. Increase Your Deductible
Your deductible is the amount you pay out of pocket before your insurance kicks in. If you're willing to assume more risk in the event of an accident, increasing your deductible can lower your premiums significantly. Before increasing your deductible, however, make sure you can afford to pay the higher amount in case of a claim.

For example, raising your deductible from $500 to $1,000 could reduce your premiums by 10% or more, depending on the insurer.

4. Take Advantage of Discounts
Many insurance companies offer discounts that you may be eligible for as a single driver. Some common discounts include:

• Good Driver Discount:
  If you have a clean driving record and haven’t been involved in any accidents or received traffic violations, many insurers will offer discounts for being a safe driver.
  
  
• Low Mileage Discount:
  If you don’t drive much, you could qualify for a low mileage discount. Insurers may offer this discount if your annual mileage is below a certain threshold.
  
  
• Bundling Discounts:
  If you have renters or homeowners insurance, consider bundling your auto insurance with the same provider. Bundling policies can often result in substantial savings.
  
  
• Defensive Driving Course Discount:
  Some insurers offer discounts if you take a certified defensive driving course. These courses can help improve your driving skills and potentially lower your insurance rates.

Make sure to ask your insurer about available discounts and verify your eligibility to take full advantage of any potential savings.

5. Maintain a Good Credit Score
Your credit score can have a significant impact on your auto insurance rates. Insurers often use credit-based insurance scores to predict the likelihood of a claim, as studies have shown that individuals with higher credit scores are less likely to file claims. Therefore, maintaining good credit can help you secure more favorable insurance rates.

If your credit score isn’t in good shape, consider working on improving it by paying bills on time, reducing credit card debt, and checking for any errors on your credit report.

6. Consider Usage-Based Insurance
Many insurers now offer usage-based or pay-per-mile insurance programs that track your driving habits, such as how much you drive and how safely you drive. If you're a safe driver and don’t log many miles, these programs can help you save money on your premiums. Typically, you'll need a device or mobile app to track your driving behavior, but the savings can be significant, especially for single drivers who drive fewer miles.

If you're a single driver with a relatively low driving frequency, this could be a great option to lower your overall costs.

7. Review Your Policy Annually
Your auto insurance needs may change over time. Reviewing your policy annually allows you to adjust coverage levels, compare new quotes, and make sure your insurer is still offering you the best rates. For instance, if you’ve paid off your car loan or your car’s value has decreased, you might consider reducing your coverage or switching to a more affordable insurer.

Conclusion
As a single driver, you might face higher auto insurance premiums, but with the right approach, you can still secure affordable coverage. By opting for the right coverage, taking advantage of discounts, and maintaining a good credit score, you can reduce your premiums without sacrificing essential protection. Regularly reviewing your policy and considering usage-based options are also great ways to ensure you're getting the best deal. With a little effort, you can enjoy the freedom of the open road while keeping your insurance costs under control.

At Insurance Agency Network, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get insurance that fits your needs. You can get more information about our products and services by calling our agency at (425) 448-9190. Get your free quote today by CLICKING HERE.

Disclaimer: The information presented in this blog is intended for informational purposes only and should not be considered as professional advice. It is crucial to consult with a qualified insurance agent or professional for personalized advice tailored to your specific circumstances. They can provide expert guidance and help you make informed decisions regarding your insurance needs.