Lowering Your Car Insurance Rates
Saving money on your car insurance policy is easier than you think. There are several steps you can take to start saving right away. Using an Independent Agent is helpful in reducing unnecessary costs on your policy. Your agent can advise you on proper coverage and shop the rates among many companies. The difference between two companies can literally be hundreds of dollars.
- The internet have made even this unnecessary. You can compare quotes without even leaving your home.
If you have an older car, consider dropping the physical damage coverage. Depending on your car’s value and where you live, comprehensive and collision coverage may not be worth keeping. You can speak with your agent about this and they can help you research your car’s value to determine the value of the coverage. If you do not want to drop the coverage, raise the deductible. According to the Insurance Information Institute, raising your deductible from $200 to $500 could reduce your collision and comprehensive cost by 15% to 30%. In addition, because the average driver files a collision claim only once every ten years, odds are that over the lifetime of your car, a higher deductible will save you money.
-Choose a high deductible and then put that amount in a savings account to cover your risk.
Look for the many discounts that are offered. Many insurance companies offer discounts for adding multiple policies. For example, if you add a homeowner’s, umbrella, ATV, or other type of policy, you could save anywhere from 5% to 20% on your car insurance. Companies also offer discounts for certain driver traits or car features. For example, being a homeowner, a good student, a senior citizen who has taken an approved defensive driving course, a car with antitheft devices and antilock brakes, air bags, etc. All of these factors may lower your rate. Your agent will know what discounts apply to your situation.
- Find out what qualifies you for the discounts. Make sure your anti-theft devices are recognized by the insurance company before investing in them.
...![Pub Owner Lets Patrons Know Their Firearms Not Welcome Bristol Herald Courier]("http://nt0.ggpht.com/news/tbn/6Jlvus46vn335M/6.jpg")
Bristol Herald CourierPub Owner Lets Patrons Know Their Firearms Not WelcomeBristol Herald CourierWe haven't heard what this law does to a bar's insurance premiums. Who's going to get sued when you and Billy Bob Whoever shoot each other? and more »