Lower Insurance Costs
8 WAYS TO A LOWER AUTO INSURANCE COST
Shop Around for Insurance
Prices vary from company to company, so it pays to shop around. Let us save you valuable time by shopping for you! We have over 30 insurance companies and our duty is to match you with the perfect fit that saves you the most money possible while keeping you and your family properly protected.
Before You Buy a Car, Compare Insurance Costs
Before you buy a new or used car, check into insurance costs. Car insurance premiums are based in part on the car’s sticker price, the cost to repair it, its overall safety record, and the likelihood of theft. Many insurers offer discounts for features that reduce the risk of injuries or theft.
Ask for Higher Insurance Deductibles
Deductibles are what you pay before your insurance policy kicks in. By requesting higher deductibles, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15 to 30 percent. Going to a $1,000 deductible can save you 40 percent or more. Before choosing a higher deductible, be sure you have enough money set aside to pay it if you have a claim.
Reduce Insurance Coverage on Older Cars
Consider dropping full coverage on older cars and switching to liability coverage. If your car is worth less than 10 times the premium, purchasing the coverage may not be cost effective. Review your coverage at renewal time to make sure your insurance needs haven’t changed.
Buy your Homeowners Insurance and Auto Insurance from the Same Insurer
Many insurers will give you a break if you buy two or more types of insurance. You may also get a reduction if you have more than one vehicle insured with the same company. Some insurers reduce the rates for long-time customers. You may save money buying from different insurance companies, compared with a multi-policy discount.
Maintain a Good Credit Record
Establishing a solid credit history can cut your insurance costs. Insurers are increasingly using credit information to price auto insurance policies. To protect your credit standing, pay your bills on time, don’t obtain more credit than you need and keep your credit balances as low as possible.
Take Advantage of Low Mileage Insurance Discounts
Some companies offer discounts to motorists who drive a lower than average number of miles a year. Low mileage discounts can also apply to drivers who carpool to work.
Seek Out Other Insurance Discounts
Companies offer discounts to policyholders who have not had any accidents or moving violations for a number of years. You may also get a discount if you take a defensive driving course. If there is a young driver on the policy who is a good student, has taken a drivers education course or is at a college out of the area without a car, you may also qualify for a lower rate.