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Ask for higher deductibles.
When you file a claim, a deductible is the amount of money you pay
before your insurance company pays for the rest of the damage. Higher
deductibles mean lower premiums. For example, increasing your
deductible from $250 to $500 on collision coverage could reduce your
premium by as much as 30 percent – potentially saving your hundreds of
dollars.
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Drop Collision and/or comprehensive coverages on
older cars.
If you own a car that’s worth less than $2000, you’ll probably pay
more for the coverage than you would ever collect on a claim. Although
insurance companies use their own criteria to determine fair market
value for vehicles, you can find out how much your car is generally
worth by using the Blue Book.
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Buy a “low-profile” car.
Cars that are expensive to repair or that have a high theft rate
generally have higher insurance costs.
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Take advantage of
low-mileage discounts.
Some insurance companies offer discounts to drivers who put fewer
than a predetermined number of miles on their vehicles each year. And
with the high price of gasoline, carpooling and taking public
transportation around town can help you save more than just premium
dollars.
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Consider insurance
cost when making a move.
Costs tend to be lowest in rural communities and highest in
cities, where more traffic congestion occurs and the likelihood of theft
increases.
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Ask about discounts
for air bags and other safety features.
Your insurance agent should let you know about these discounts
when you purchase your coverage. Most policies give discounts for air
bags.
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Ask about antilock brake discounts.
Some insurance companies give discounts when your car is equipped
with antilock brakes.
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Multi Car Discounts.
When you have 2 or more vehicles insured with the insurance
company, you will be eligible to receive 15% to 20% off the policy.
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Multi Policy Discounts
When you insure your home and auto policy with the same company, you
will be eligible to receive up to an additional 10% off both your auto
and home policies.
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Accident Free
Discount
When you have not had any accidents within the past 3 years, you
may be eligible for discounts for being accident free plus you may be
eligible for preferred discounts with insurance companies.
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Have anti-theft devices installed on your car
Many companies give discounts depending on the type of anti-theft
device that is installed.
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Good Student
Discounts
When young drivers have a grade point average of 3.0 or better or
a B-average, most companies will give up to a 25% discount on the car
they are rated on.
