Saving Money on Your Auto Insurance
9 Ways to Save...
Prices for the same coverage can vary from company to company, so it
pays to shop around. But don't shop price alone. The insurer you
select should offer both fair prices and excellent service. Quality
personal service may cost a bit more, but you buy insurance in case
you need to make a claim, so it's important to get a company with a
good reputation. Check the financial ratings of the companies with
Standard and Poor's.
Ask for Higher
Deductibles represent the amount of money you pay before you make a
claim. By requesting higher deductibles on collision and
comprehensive (fire and theft) coverage, you can lower your costs
substantially. For example, increasing your deductible from $300 to
$500 could reduce your collision and comprehensive cost by 15% to
and/or Comprehensive Coverages on Older Cars.
It may not be cost effective to have collision or comprehensive
coverages on cars worth less than $1,000 because any claim you make
would not substantially exceed annual cost and deductible amounts.
Buy a "Low
Before you buy a new or used car, check into insurance costs. Cars
that are expensive to repair, or that are favorite
targets for thieves
, have much higher insurance costs.
of Low Mileage Discounts.
Some companies offer discounts to motorists who drive fewer than a
predetermined number of miles a year.
Insurance Cost When Making a Move.
Costs tend to be lowest in rural communities and highest in cities
where there is more traffic congestion.
Find out about
Automatic Seat Belt or Airbag Discounts.
You may be able to take advantage of discounts on some coverages if
you have automatic seat belts and/or airbags.
Anti-lock brakes improve steering control and stability when a car
is brought to a stop, thus reducing accidents. Some states,
including Florida, New Jersey and New York, require insurers to give
discounts for cars equipped with the brakes and some insurers have a
nationwide discount in place.
Inquire About Other Discounts.
Some insurers offer discounts for things like
no accidents in three years, drivers over 65 years of age, driver
training courses, anti-theft devices, and having more than one car
insured with that company. Many companies now offer account credits
up to 10% on your home insurance if they also insure your auto.