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Here are some suggestions that can help you reduce your auto insurance costs: Ask for Higher Deductibles. Deductibles represent the amount of money you pay before the auto insurance company pays a comprehensive or collision claim. The average driver files a collision claims only once every ten years, so odds are that over the life time of your car, a higher deductible will save you money. By requesting higher deductibles on comprehensive and collision coverage, you can lower your costs substantially. For example, increasing your deductible from $250 to $500 could reduce your comprehensive and collision costs by 20%. Buy a "Low Profile" Vehicle. 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. Pay Your Premium in Full. If you are able, pay your total auto insurance premium up front. You may save payment fees, and many companies offer a discount for payment in full when you start a policy and at renewal. Drop Comprehensive and/or Collision Coverages on Older Cars. It may not be cost effective to have comprehensive or collision coverages on cars worth less than $1,000 because any claim you make would not substantially exceed annual cost and deductible amounts. Auto dealers and banks can tell you the worth of your car. Consider Insurance Costs When Making a Move. Costs tend to be lowest in rural communities and highest in cities where there is more traffic congestion. Inquire about Discounts. You may be eligible for 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 and New York, require auto insurance companies to give discounts for cars equipped with the brakes and some insurers have a nationwide discount in place. Some insurers offer discounts for things like no accidents in three years, drivers over 50 years of age, driver training courses, anti-theft devices, and having more than one car insured with that company. 2010 has shown auto insurance rates dropping all across the nation. Now is the time to see how much you can save on auto insurance. Instant online quotes can help. Comparing a lot of quotes is the only way to be certain of getting the lowest auto insurance rates. It will be time well spent if your patience pays you back with savings on your auto insurance. |
