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Ten Easy Ways to Lower Your Auto Insurance Costs Written by various contributors • Posted September 24, 2019 (1) Shop Around Prices vary from insurance company to insurance company, so it pays to shop around. Get at least three or more price quotes. You can call companies directly or access information on the Internet. Your state insurance department may also provide comparisons of prices charged by major insurers. You buy insurance to protect you financially and provide peace of mind. It’s important to pick a company that is financially stable. Check the financial health of insurance companies with online rating companies and Standard & Poor’s ratings, plus consult online consumer magazines and so on. Get quotes from different types of insurance companies. Some sell through their own agents. These agencies have the same name as the insurance company. Some sell through independent agents who offer policies from several insurance companies. Others do not use agents. They sell directly to consumers over the phone or via the Internet. Don’t shop by price alone. Ask friends and relatives for their recommendations. Contact your state insurance department to find out whether they provide information on consumer complaints by company.  Select an agent or company representative that takes the time to answer your questions in regards to purchasing a new auto insurance policy. (2) Compare Insurance Costs Before You Buy a Certain Type of Car Before you buy a new or used car, you should always check into insurance costs. 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. Many insurers offer discounts for features that reduce the risk of injuries or theft. To help you decide what car to buy, you can get information from the Insurance Institute for Highway Safety. (3) Ask for Higher Deductibles Deductibles are what you pay before your insurance policy kicks in. By requesting higher deductibles, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15 to 30 percent. Going to a $1,000 deductible can save you 40 percent or more. Before choosing a higher deductible, be sure you have enough money set aside to pay it if you have a claim. (4) Reduce the Coverage on Older Vehicles Consider dropping collision and/or comprehensive coverage on older cars. If your car is worth less than 10 times the premium, purchasing the coverage may not be cost effective. Auto dealers and banks can tell you the worth of most vehicles. Or you can look it up online at Kelley’s Blue Book or a similar site. Review your coverage at renewal time to make sure your insurance needs have not changed. (5) Buy your Homeowners and Auto Coverage through the same Insurer Many insurers will give you a pretty good break if you buy two or more types of insurance. You may also get a reduction if you have more than one vehicle insured with the same company. Some insurers reduce the rates for long-time customers. But it still makes sense to shop around! (6) Maintain a Good Credit Record Establishing a solid credit history can cut your insurance costs. Most insurers use credit information to price auto insurance policies. Research shows that people who effectively manage their credit have fewer claims. 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. Check your credit record on a regular basis and have any errors corrected promptly so that your record remains accurate. (7) Take Advantage of Low Mileage Discounts Some companies will offer good discounts to motorists who drive below the national average of miles per year. Low mileage discounts can also apply to drivers who car pool to work. Insurance tracking devices may also help you save money. But make sure the insurance tracking device is compatible with your modern vehicle electronics. Some of these devices can cause potential issues with the vehicle CAN Bus system. You can always discuss this with your dealership’s service department. (8) Ask About Group Insurance Some companies offer discounts to drivers who get auto insurance through a group plan from their present employer, through professional, business and alumni groups or from other associations. Ask your employer and inquire with groups or clubs you are a member of to see if this is possible. (9) Anti-Theft Devices, Vehicle Recovery Systems & Safety Devices You may qualify for additional discount if you have air bags, automatic seat belts, anti-lock brakes, electronic stability control system, daytime running Lights, rear back up camera system, automatic windshield wipers, etc. You may also qualify for an additional discount for approved anti-theft devices, vehicle recovery systems, and various alarm systems. (10) Seek Out Other Discounts Companies offer discounts to policyholders who have not had any accidents or moving violations for a number of years. You may also get a discount if you take a defensive driving course. If there is a young driver on the policy who is a good student, has taken a driver’s education course or is away at college without a car, you may also qualify for a lower rate.  
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Info Showcase
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Ten Easy Ways to Lower Your Auto Insurance Costs Written by various contributors • Posted Sept. 24, 2019 (1) Shop Around Prices vary from insurance company to insurance company, so it pays to shop around. Get at least three or more price quotes. You can call companies directly or access information on the Internet. Your state insurance department may also provide comparisons of prices charged by major insurers. You buy insurance to protect you financially and provide peace of mind. It’s important to pick a company that is financially stable. Check the financial health of insurance companies with online rating companies and Standard & Poor’s ratings, plus consult online consumer magazines and so on. Get quotes from different types of insurance companies. Some sell through their own agents. These agencies have the same name as the insurance company. Some sell through independent agents who offer policies from several insurance companies. Others do not use agents. They sell directly to consumers over the phone or via the Internet. Don’t shop by price alone. Ask friends and relatives for their recommendations. Contact your state insurance department to find out whether they provide information on consumer complaints by company.  Select an agent or company representative that takes the time to answer your questions in regards to purchasing a new auto insurance policy. (2) Compare Insurance Costs Before You Buy a Certain Type of Car Before you buy a new or used car, you should always check into insurance costs. 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. Many insurers offer discounts for features that reduce the risk of injuries or theft. To help you decide what car to buy, you can get information from the Insurance Institute for Highway Safety. (3) Ask for Higher Deductibles Deductibles are what you pay before your insurance policy kicks in. By requesting higher deductibles, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15 to 30 percent. Going to a $1,000 deductible can save you 40 percent or more. Before choosing a higher deductible, be sure you have enough money set aside to pay it if you have a claim. (4) Reduce the Coverage on Older Vehicles Consider dropping collision and/or comprehensive coverage on older cars. If your car is worth less than 10 times the premium, purchasing the coverage may not be cost effective. Auto dealers and banks can tell you the worth of most vehicles. Or you can look it up online at Kelley’s Blue Book or a similar site. Review your coverage at renewal time to make sure your insurance needs have not changed. (5) Buy your Homeowners and Auto Coverage through the same Insurer Many insurers will give you a pretty good break if you buy two or more types of insurance. You may also get a reduction if you have more than one vehicle insured with the same company. Some insurers reduce the rates for long-time customers. But it still makes sense to shop around! (6) Maintain a Good Credit Record Establishing a solid credit history can cut your insurance costs. Most insurers use credit information to price auto insurance policies. Research shows that people who effectively manage their credit have fewer claims. 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. Check your credit record on a regular basis and have any errors corrected promptly so that your record remains accurate. (7) Take Advantage of Low Mileage Discounts Some companies will offer good discounts to motorists who drive below the national average of miles per year. Low mileage discounts can also apply to drivers who car pool to work. Insurance tracking devices may also help you save money. But make sure the insurance tracking device is compatible with your modern vehicle electronics. Some of these devices can cause potential issues with the vehicle CAN Bus system. You can always discuss this with your dealership’s service department. (8) Ask About Group Insurance Some companies offer discounts to drivers who get auto insurance through a group plan from their present employer, through professional, business and alumni groups or from other associations. Ask your employer and inquire with groups or clubs you are a member of to see if this is possible. (9) Anti-Theft Devices, Vehicle Recovery Systems & Safety Devices You may qualify for additional discount if you have air bags, automatic seat belts, anti-lock brakes, electronic stability control system, daytime running Lights, rear back up camera system, automatic windshield wipers, etc. You may also qualify for an additional discount for approved anti-theft devices, vehicle recovery systems, and various alarm systems. (10) Seek Out Other Discounts Companies offer discounts to policyholders who have not had any accidents or moving violations for a number of years. You may also get a discount if you take a defensive driving course. If there is a young driver on the policy who is a good student, has taken a driver’s education course or is away at college without a car, you may also qualify for a lower rate.

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