Auto Insurance Buying Tips
Consolidate Insurance Policies
Insuring two or more vehicles with the same insurance company can save you between 10 – 15% on your premiums. Covering your home through the same can reduce your premiums by another 10-15 percent.
Increase Your Deductible
One rule of thumb is to carry the highest deductible you can afford. By increasing your deductible from $100 to $1,000, you could save up to 25%.
Install Anti-Theft And Safety Devices
Installing a vehicle recovery system such as Lo-Jack or Teletracer could save you up to 7-10% per year. There are other relatively inexpensive anti-theft devices such as “The Club”, which locks the steering wheel in place, as well as having your Vehicle Identification Number (VIN) etched on each window.
Clean Driving Record And Safety Courses
While traffic tickets and auto accidents will increase your premiums, most insurance companies offer discounts to drivers with clean records. Also, some insurance companies will offer a discount if you attend a Driver Training School Program, and your employer might even pay the cost if you use a company vehicle for your job.
Reduce Coverage On Older Vehicles
If you have an older car worth between $1,000 – $2,000, you might be better off dropping the collision coverage. Check to see if your collision premium is more than the value of the car.
Non-Smoker Or Early Retiree Discounts
Some companies provide discounts for Non-smokers and Early Retirees. Insurers consider smoking a dangerous driving activity.
Park In A Garage
Sometimes the difference between getting auto insurance and going uninsured is where you keep your vehicle at night. Most thefts do not involve a garaged car and this is reflected in premium discounts.
Carpool With A Co-Worker
Most insurers surcharge premiums if the commute to work exceeds 3 miles. Carpooling with a co-worker may result in a discount for low-mileage use.
Drive A Conservative Car
Before buying a car you might want to find out how much your insurance will cost annually. Insurance companies consider certain cars easily damaged and expensive to repair, and other cars the target of thieves.