Saving Money on Auto Insurance
Specific Ways to Save
Increase your deductibles: For many people, raising the deductible on their auto insurance is a good way to cut the cost of the policy. Sometimes you can reduce your annual premium by 10% or more if you increase your deductible from, say, $250 to $500. If you do this, however, make sure you have the financial resources to handle the larger deductible if and when, the time comes.
Narrow the Scope of your Coverage
If you drive an older car worth less that $1,000, it may be cost-effective to drop collision and comprehensive coverage. The rationale is that even if the vehicle were severely damaged in an accident, the amount the insurer would pay for its repair or replacement would be relatively small.
You might also consider dropping any options you may have added to your policy (special provisions for items like towing and labor, car rental, and loss of income). Removal of these items may reduce your premium somewhat, but will also expose you to the costs in question.
Lower Coverage Amounts
You can also reduce the amounts of certain coverages. Again, be careful you don’t want to be inadequately insured, especially in the area of liability. You should almost always keep your liability coverage at as high a level as possible because this is where you can have the greatest losses. You my be able to lower your coverage amounts in other areas (such as collision and comprehensive), but don’t rush into such a decision just to save a few bucks. Talk it over with us first.
Drive Safely
You may be eligible for a price break on your policy if you maintain a clean driving record for a specified period of time. A clean driving record generally means no accidents, moving violations, driving convictions, etc., during that period. The best way to qualify for the applicable discount is to drive carefully and defensively at all times.
Inquire about
Multi-Policy Discounts
You may be eligible to receive a discount from the insurer if you buy more than one type of policy through that same company (e.g., auto and homeowner’s). A discount may also apply to your auto insurance if you insure multiple cars under the same policy or with the same company.
Get a Quote on Personal Auto Insurance Today!
800 W Market St, Bolivar, TN 38008
731-658-3011