Auto insurance rates are composed of dozens of different variables and while that may add to your confusion, it also allows many chances to find lower rates. By following the tips below you will be able to better tailor your policy to your needs while also saving as much on your premiums as possible.
Increase your deductibles: You can choose to increase your comprehensive and collision deductibles. Many policies are issued with a standard $250 or $500 deductible on these physical damage components. Calculate the savings you will have if you raise these deductibles to $1000. If raising your deductible saves you $125 every 6 months, it would take you two years for you to break even in the event of a claim. Determine if this is an acceptable risk to you.
Get older or get married: Most car insurance policies offer lower rates to older drivers. It's simply a matter of time before your reach 18, 21, or 25 years old and become eligible for these discounts. You can also get married. Married customers can combine their 2 policies into one to save money and married couples are usually offered a lower rate due to their decreased risk of accidents.
Take defensive driving classes: AARP, AAA and other agencies offer defensive driving classes. Check with your insurance company and see if they offer an additional discount for completing a defensive driving class. Even if they do not, the knowledge you gain from attending the class can be an invaluable asset to your driving ability.
Make sure your distance to work is accurate: If you change your job, work from home, or retire, make sure you notify your insurance company. Your rate is calculated partly on the number of miles you drive to work each day and if you are improperly classified you may be paying more money than necessary.
Shop online for your insurance: Online insurance companies offer some of the most competitive rates available today. Shopping online is easy and allows you access to a large number of companies competing for your business. By spending 10 minutes online you may be able to save $100 - $500 a year or more on your car insurance. You can find out how much you can save online by clicking the link below and getting your free quote today.
Please note that this description/explanation is intended only as a guideline. Contact your licensed agent for more information.