Shrinking Your Car Insurance Payment

Here are some helpful tips to ensure you are getting the savings you deserve on your auto insurance.

1. Maintain a Good Driving Record
Companies charge safe drivers (i.e., free of at-fault accidents or violations) lower rates for automobile insurance. Each company has different guidelines to determine what price an individual will be charged.

2. Comparison Shop
It pays to shop around before buying insurance, since prices can differ among companies. When you call for a quote or fill out an application, give complete and correct information because your premium quote will be based on this information. In addition to cost, you should also carefully consider other factors such as service, dependability, and the financial condition of the insurance company.

3. Ask About Discounts
Ask if you’re eligible for any discounts. Here are some discounts that may be offered:

Two or more cars on a policy
Participation in driver education courses
Good student driver under age 25 Mature driver (between 50 and 65 years of age)
Airbags or other safety equipment
Anti-theft devices
Auto/home insurance on same policy or with same company

4. Consider Revising Deductibles
You may reduce your auto insurance costs by raising the deductible on physical damage coverage. Be sure to review your current deductibles to determine whether you can afford to absorb a larger portion of your loss in the event of an accident.

5. Review Insurance Costs Before Buying a Car
Insurance companies usually charge higher premiums for cars that cost more to repair or offer occupants less protection from accidents.