You may also get a discount if you take a defensive driving course. Seek out other discountsĬompanies offer discounts to policyholders who have not had any accidents or moving violations for a number of years. Ask your employer and inquire with groups or clubs you are a member of to see if this is possible. Some companies offer reductions to drivers who get insurance through a group plan from their employers, through professional, business and alumni groups or from other associations. Low mileage discounts can also apply to drivers who car pool to work. Some companies offer discounts to motorists who drive a lower than average number of miles per year. Check your credit record on a regular basis and have any errors corrected promptly so that your record remains accurate. To protect your credit standing, pay your bills on time, don’t obtain more credit than you need and keep your credit balances as low as possible. Research shows that people who effectively manage their credit have fewer claims. Most insurers use credit information to price auto insurance policies. Maintain a good credit recordĮstablishing a solid credit history can cut your insurance costs. But it still makes sense to shop around! You may save money buying from different insurance companies, compared with a multipolicy discount. Some insurers reduce the rates for long-time customers. You may also get a reduction if you have more than one vehicle insured with the same company. Many insurers will give you a break if you buy two or more types of insurance. Buy your homeowners and auto coverage from the same insurer Or you can look it up online at Kelley’s Blue Book ( Review your coverage at renewal time to make sure your insurance needs haven’t changed. Auto dealers and banks can tell you the worth of cars. If your car is worth less than 10 times the premium, purchasing the coverage may not be cost effective. Reduce coverage on older carsĬonsider dropping collision and/or comprehensive coverages on older cars. Before choosing a higher deductible, be sure you have enough money set aside to pay it if you have a claim. Going to a $1,000 deductible can save you 40 percent or more. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15 to 30 percent. By requesting higher deductibles, you can lower your costs substantially. Ask for higher deductiblesĭeductibles are what you pay before your insurance policy kicks in. To help you decide what car to buy, you can get information from the Insurance Institute for Highway Safety ( 3. Many insurers offer discounts for features that reduce the risk of injuries or theft. Car insurance premiums are based in part on the car’s price, the cost to repair it, its overall safety record and the likelihood of theft. Before you buy a car, compare insurance costsīefore you buy a new or used car, check into insurance costs. You can use the checklist on the back of this brochure to help you compare quotes from insurers. Pick an agent or company representative that takes the time to answer your questions. Contact your state insurance department to find out whether they provide information on consumer complaints by company. Ask friends and relatives for their recommendations. They sell directly to consumers over the phone or via the Internet.ĭon’t shop by price alone. Some sell through independent agents who offer policies from several insurance companies. These agencies have the same name as the insurance company. Get quotes from different types of insurance companies. Check the financial health of insurance companies with rating companies such as AM Best ( and Standard & Poor’s ( and consult consumer magazines. It’s important to pick a company that is financially stable. You buy insurance to protect you financially and provide peace of mind. Your state insurance department may also provide comparisons of prices charged by major insurers. You can call companies directly or access information on the Internet. Prices vary from company to company, so it pays to shop around. Listed below are other things you can do to lower your insurance costs. One of the best ways to keep your auto insurance costs down is to have a good driving record.
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