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Insurance Information Institute has nine suggestions to help you save on your auto insurance policies. Auto insurance premiums can vary from company to company and from coverage to coverage, so be sure to shop around. 1. Comparison shop.
Use
consumer information provided by your state's insurance
department. Where they're available, insure.com has
published state insurance department auto rate guides.
These guides tell you what coverages you need and show
you sample rates, usually from th
e biggest companies. Visit your state's page by choosing your state from the menu at the top of this page.
2. Ask for higher deductibles.
When
you file a claim, a deductible is the amount of money
you pay before your insurance company kicks in. Higher
deductibles mean lower premiums. For example, increasing
your deductible from $200 to $500 on collision coverage
could reduce your cost by as
much as 30 percent. 3.
Drop collision and/or comprehensive coverage on older
cars.
If you own a car that's worth less than $1,000, you'll probably pay more for the coverage than you would ever collect on a claim. Your bank can tell you how much your car is worth, or check out the Kelley
Blue Book. 4. Buy a "low-profile" car.
Cars
that are expensive to repair or that have a high theft rate generally have higher insurance costs. 5.
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.
6.
Consider insurance cost when making a
move.
Costs tend to be lowest in rural communities and highest in cities, where more traffic congestion occurs. 7.
Find out about discounts for automatic seatbelts or
air bags.
Your insurance agent should let you know about these discounts when you purchase your coverage. Most policies give discounts for air bags and automatic seatbelts. 8. Ask about antilock brakes.
Some
states, including Florida, New Jersey, and New York,
require insurers to give
discounts for cars equipped with antilock brakes. Some insurance companies give the discount no matter where you live. 9. Ask about other discounts.
Some
companies offer discounts for insuring more than one
car, also insuring your home with them (known as a
multiline discount), having no accidents in three years,
being a driver over 50, taking driver training courses,
and having antitheft devices. Plu
s, remember good-student discounts when you are insuring a teen driver.
For more in-depth information on auto, health, home and life insurance, visit insure.com.
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