What can you do to keep your auto insurance premiums as low as possible and still carry the coverage you and your family need?
- Comparison shop. Not just at different companies, but also ask your insurance agent what you can do to bring down your rates. Her answers might include some of the suggestions that follow.
- Ask for higher deductibles. You could save as much as 40 percent on the collision and comprehensive portion of your premium.
- Drop collision and comprehensive on old cars. It makes little sense to maintain c&c coverage on a vehicle worth less than $1,000.
- Buy sensibly. You may be able to purchase that fancy car, but can you afford to insure it? In fact, why not check with your insurance company to ask what features you can look for to lower your premium?
- Ask about low-mileage discounts. If you’re on the road less, you can probably pay less for coverage.
- Ask about car-safety and security discounts for lane-departure warnings, automated braking systems, anti-theft devices and other new technology that makes you a safer bet on the road or in your parking spot.
- Combine and conquer—maybe. Look into insuring your home, vehicles and other big items with the same company.
- Find out about group discounts from large employers, professional groups, alumni associations and other organizations.
- How’s your credit? Insurers like drivers with a good credit rating.
- Watch your teen. Are you eligible for a discount if you use a monitoring program to track your teen’s driving, or if he is a great student or she has completed a certified driver education course with flying colors?
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