Another year and another substantial raise in your car insurance rates. Is there anything you can do to curb these costs? There are ways to keep your auto insurance rates down without sacrificing coverage. Review your policy and consider these options to help save money on your auto insurance policy.
Consider taking out higher deductibles for your comprehensive and collision coverages to lower your premium. You’ll also make fewer minor claims on your insurance policy record. Driving a fifteen year old clunker? Drop these altogether for further savings. Most insurance companies do not generally offer collision coverage for older vehicles.
Be a safe driver
Maintain a good driving record. Drive at lower speeds, take fewer careless risks and drive defensively. If your state hasn’t banned the use of hand held cell phones yet, wean yourself off the need to talk while driving. Avoid putting on makeup or eating while driving. All those speeding tickets and accidents translate into higher premiums for you. Drive safely and those costs decrease.
Can you commute to work without the car?
Arrange to take public transportation or carpool to work. More exposure on the road means increased greater risk for an accident. Ask your insurance provider for possible low-mileage discounts or pleasure use rates. Save the air and save money.
Check with your current insurance provider. Insure your car and home with the same company and receive a multi-policy discount. If you have more than one vehicle in your house, have all of your policies with the same company for a multi-vehicle discount.
Buy your vehicle with safety in mind
When shopping around for a new car, consider the make and model. Some vehicles are more prone to theft or are considered high accident vehicles. The National Insurance Crime Bureau (www.nicb.org) lists top stolen cars nationally and for each state. The Insurance Institute for Highway Safety (www.iihs.org) is a great resource for researching which vehicles are more likely to be involved in an accident. Safer vehicles and those that aren’t attractive to thieves can mean greater savings for you.
Protect your car from theft
Does your vehicle come have an anti-theft device? Models having factory installed devices are usually considered in a company’s premium calculations. If you have an alarm system installed after purchase, you may qualify for an anti-theft discount. Note however that steering locking devices like the Club generally do not qualify.
Are you an older driver?
Experience pays off. If you are an older driver with a good driving record, your carrier may offer an age discount. You can also shop around; there are several insurance providers catering exclusively to drivers fifty and older.
Young drivers and driver’s education
Young drivers and high rates go together, but taking driver’s education can payoff in discounts for new drivers. Some companies also offer discounts for young drivers who do well in school; more incentive to study.
Exclude drivers with poor records
A driver in your household has a poor driving record because of accidents, numerous traffic tickets or cancelled insurance policies. Consider taking out an endorsement to exclude that person from driving your vehicle. Avoid having to pay higher premiums for the mistakes of others.
Do your homework
Shop around for insurance quotes to see if you are getting the maximum discounts and rewards available. Comparing coverages and costs will help you decide on the right policy for you.
Your car is a necessity and so is having sufficient insurance. There are ways to keep your auto insurance rates down without sacrificing coverage. Talk to your insurance professional and review your policy to discover the many ways you can save money.