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7 Ways to save on Car Insurance
While we cannot force rates down, there are ways to save money on individual policies. These are some tips to share with your policy holders (or even use yourself) to save some money on personal car insurance premiums.
- Location, location, location : This is one factor that really pushes up the cost. Living in cities (the bigger the city the higher the price) is more costly than living in rural communities or smaller cities. So, if you have that dream to “move to the country” then put lower cost of auto insurance as one of the plusses.
- Choose the right car : If you are in the market for a new car, research into which cars cost the most to repair or are targets for thieves. Those cars will cost more to insure. There are resources on the internet to see which ones fit in the higher categories.
- Check out those defensive driver schools : Don’t save taking the course to get rid of a ticket. Some people do and lose out on the initial savings. If you get a ticket you can still take a course to get the ticket off your record. The savings is 10% off of most of the coverages. Be aware that County Mutuals do not have to allow the discount, so check with your insurance company first. It is better to take the course and get the savings than wait to get a ticket to get the savings.
- If your car has automatic seat belts, airbags or anti-lock brakes: ask to make sure you are getting your discount. Most companies automatically give it if the VIN number shows it is on the car, but it does not hurt to ask to be sure you are getting all the credits you can.
- Ask about any other discounts a company may have: Good grades of students, anti-theft systems, taking the drug and alcohol awareness course or over 50 discounts and accident free are just a few but they may need some type of documentation. Asking questions is free.
- Check your deductibles: The higher deductible the lower the premium is the general rule. Just make sure you can pay the higher deductible if you have a loss. If you are disciplined enough, you could take the savings you are experiencing with the larger deductible and bank it to use in case you have an accident. In just a couple of years, you could save the difference in your current deductible and the higher one plus YOU get the interest.
- Shop: If you have a good record, check out other carriers. Sometimes our own carriers get complacent and don’t automatically give us the best deals they have. See what it out there. Ask questions and the answers may save you some money.
Tips of the Trade by Mary Roth CPCU