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Tips to Save on Auto Insurance

We added a new vehicle to our auto insurance plan this week. It had been awhile since I dealt with our auto insurance policy so I did a little digging on tips to save on auto insurance as we went out and purchased our new vehicle. I learned a thing or two about what effects our car insurance rates and and how to save a few pennies as well.

Tips to Save on Auto Insurance

1. Before you buy a new vehicle call your insurance company and get an idea on what the rates are like for that particular model. Some vehicles charge a higher premium because of engine size, theft rate and accident rate. You might want to think about buying that Lamborgini if you can afford the insurance.

2. Shop around for rates once you have picked our your vehicle. Rates may not differ much from company to company but any money you can save is a benefit to you. Get a number of quotes and ask about loyalty programs or when your “new customer” discount runs out.

3. A higher deductible means lower rates. A standard in my area is a $500 deductible. Am I really putting a claim in for something in the $500 range? Not a chance. I upped my deductible to $1000 because I can afford that and I am not putting a claim in on something small.

4. Bundling your home and auto insurance with the same company will save you money. Most insurance companies offer discounts for bundling.

5. Do you need collision on an older vehicle? Consider your deductible amount the value of your vehicle. If you can afford to fix your older less valuable car then you may be paying more insurance then your car is worth.

6. Ask if your company offers discounts for secure parking. My company offers cheaper rates if my car is parked indoors and at work where the parking lot is monitored by security cameras. Ask about any other situations that may present discounts.

One last thing. Don’t drive like an idiot. Drive safe. You are not Goggles Paesano driving home on the free-way.
Image by bluemoon197511

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