How to Reduce the Cost of your Collision Coverage

The are a few ways to reduce the cost of collision insurance.

Probably the most common is to increase the amount of the deductible. The higher the deductible, the less you pay. I’m not sure how effective this is in the last few years. Years ago a lot of accidents could be repaired for a couple of hundred dollars. Dents could be hammered out and metal could be repainted. With the advent of so many plastic parts and clearcoated paint, this isn’t the case any longer. Many parts cannot be repaired and must be replaced. The cost of paint with clearcoat is more expensive than picking up a can of paint at the auto parts store and doing it yourself.

Almost any accident is going to cost $500 or more. So most accidents will require you pay the entire deductible.

You should do some research and see how often someone at your age in your location can expect to have a moving accident. Then checkout how much you will save by accepting a large deductible. I think you’ll find the amount you save will NOT cover even one accident.

You also should check with the lender if your car is financed, they sometimes have collision minimums that you must meet and report to them.

Another way to save is to shop around and find cheaper rates. This days this is particularly easy on the Internet and you can make comparisons easily to look for cheaper rates.

Driving older cars will save money on collision insurance.

Driving safely, defensively and obeying traffic laws will ultimately reduce your collision as well as liability insurance. This last way is probably the surest and the most important.