May 2015
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Posts Tagged ‘insurance discounts’

Cut Your Automobile Insurance Costs

With prices rising on everything, Americans are looking for ways to cut back on the cost of necessities, and car insurance is one of those things.  Following are some ideas on how we can reduce  the cost of our auto insurance:


1.  Raise Your Deductible — Increasing your deductible from $200 to $500 on collision coverage could reduce your monthly costs by as much as 30%.  Even if you do have an accident and have to pay the deductible, your savings from the monthly payment will probably make up for it.

2.  Minimize Your Driving- reports, “the less time that a person spends on the road, the less likely that they will be involved in a traffic accident and cause a loss to their provider.”  For that reason, insurance companies offer a low-mileage discount.  Ask your agent about it.

3.  Bundle Your Policies - By bundling your homeowners or renters, health, property, and/or life insurance with one provider, you can get substantial discounts.   Be sure to do your homework with different providers to see who gives you the best bundled discount.

4.  Pay Your Bill in Full – If you stretch your annual premium into monthly payments, you’re paying a monthly processing fee.  When you pay your premium in full, you avoid that additional cost.

5.   Evaluate and Improve your Credit Rating – According to USInsuraneonline .com, the insurance industry keeps statistics on credit ratings and insurance claims and, based on these statistics, they have found in general that the lower the insurance credit score, the more likely you are to file claims, exaggerate the claims you file, and perhaps even commit insurance fraud.” Therefore, insurance companies will charge you higher premiums to compensate. Keeping your credit score in good standing can help you avoid these higher premiums

6. Limit Your Teen’s Driving — According to, 16-year old drivers get into accidents almost 6 times more often than drivers between 30 and 59.  Limitig their driving will cut down on that possibility.  To start them on right, teen drivers can get a discount for maintaining a B average in school and by taking a Safe Driver class, so be sure to make your teen aware of these discounts. 


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