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Here
are 8 ways you can save money on your automobile policy, according to the
Insurance Information Institute.
1. Ask for Higher Deductibles.
Deductibles represent the amount of money
you pay before you make a claim. By requesting higher deductibles on
collision and comprehensive (fire and theft) coverage, you can lower your
costs substantially. For example, increasing your deductible from $200 to
$500 could reduce your collision and comprehensive cost by 15% to 30%.
2. Drop Collision and/or
Comprehensive Coverages on Older Cars.
It may not be cost effective to have
collision or comprehensive coverages on cars worth less than $1,000
because any claim you make would not substantially exceed annual cost and
deductible amounts.
3. Buy a "Low Profile" Car.
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.
4. Take Advantage of Low Mileage
Discounts.
Some companies offer discounts to motorists
who drive fewer than a predetermined number of miles a year.
5. Consider Insurance Cost When Making a
Move.
Costs tend to be lowest in rural
communities and highest in cities where there is more traffic congestion.
6. Find out about Automatic Seat Belt or
Airbag Discounts.
You may be able to take advantage of
discounts on some coverages if you have automatic seat belts and/or
airbags.
7. Ask About Anti-Lock Brakes.
Anti-lock brakes improve steering control
and stability when a car is brought to a stop, thus reducing accidents.
8. Inquire About Other Discounts.
Some
insurers offer discounts for things like no accidents in three years,
drivers over 50 years of age, driver training courses, anti-theft devices,
good grades for students and having more than one car insured with that
company. |
