How to save money on your auto insurance rates.
The rising costs of auto rates is something we unfortunately have to deal with, but there are ways that may help you reduce your rates. A recent survey noted that insurance fraud occurs because of people’s need for money. Fraud has added $4.8 to $6.8 billion in excess payments to auto injury claims alone. These excessive payments force the carriers to increase their rates.
There are a number of choices you can make to put some money back in your own pocket.
1. Reducing the amount you drive may reduce auto insurance costs. If you car pool or use public transportation on a regular basis, you may be eligible for a premium reduction.
2. Young drivers: Do you have a young driver in your home that has completed the driver-education course? Drivers who complete the approved driver-education course may be eligible for premium discounts. Also there are good student discounts that may apply.
3. Deductibles: increasing deductibles under auto collision and comprehensive coverage also can save you money by lowering premiums.
4. Style of vehicle you drive: High-priced, high-performance and sports cars generally are more expensive to insurance. Some companies will not accept applications for “hot” cars or cars with bad safety ratings. This means you could be placed in a more expensive program to obtain coverage.
5. Safety features: Such things as anti-lock brakes, anti-theft devices or air bags can also give you a small discount on your policy.
6. Multi-car are home discounts: If you have several cars and own a home, many times you can get a discount by having them on the same policy.
7. Lastly call your agent. Your agent is always available to help you with providing the best choices for your situation.
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source info: pia.org