There are several ways you can reduce your auto insurance premiums. Higher deductibles can lower your costs as will selecting only the coverage and limits based on your needs.
Most insurance companies offer several types of disounts such as:
-Good driving/new business discount if accident free a specific period of time;
-Renewal discounts if accident and claim free for a given period of time while insured with the same company;
-Multipolicy discounts can lower your premium on one or more policies if insured by the same company;
-Multiple car discount if more than one auto insured;
-Good student and drug/alcohol awareness discounts;
-Student away from home (if a college student does not drive a car while living away and attending a college or university);
-Defensive driving discounts;
These are several of the types of common discounts offered by insurance companies. Above all, drive safely! This is a sure fire way to keep your premiums down.
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Comments
With teenage drivers many of us are very concerned about the
With teenage drivers many of us are very concerned about the premiums on our auto policies.
I am considering dropping the "under/uninsured" provision of my policy as it seems to me if I have comp and collision on the car, I am NOT any less covered after I drop this coverage. I understand the deductable is a flat $250 vs. the other deductibles I elect for comp and collision, but other than that why would anyone want to pay for this coverage given its expense?
Is there any situation where my car might be damaged and my comp and collision won't pay the bill to make it right and if so, what might that be?
The majority of the premium incurred on youthful drivers is
The majority of the premium incurred on youthful drivers is within the liability and collision coverages. It is estimated that on any given day up to 1 in 5 drivers is "uninsured" for a number of reasons. This coverage provides per person coverage for personal and bodily injury for all occupants in your vehicle if damages are incurred from an Uninsured or Underinsured driver. Therefore, the driver, occupants, and passengers in your car have added protection. I have seen this done and it can be a good strategy; however, I would suggeest you consider increasing your collision deductible to $1000 and keeping UM/UIM is possible. You can also carry UM/UIM at a lower level that your liability coverage to lower your premium. Hope this helps!
Insurance/Financial Services
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