Every time we turn on the news, it’s one depressing statistic after another. High unemployment, high foreclosure rates, high gas prices. Instead of waiting for a miracle, we need to be more savvy about how we spend our money. One area of our budgets that’s easy to trim is the amount we spend on our auto insurance. Here are 3 easy steps to get you closer to saving!
1. Quote with a new company.
Rates vary by insurer, so you might get the same coverage for less. For example, drivers who switch to our main auto insurance provider Progressive save over $475 a year on average. If your curious to see how you can save, feel free to get a Quick Free Quote from us!
And, savings might especially be in store for these drivers, who according to the Chicago Tribune , generally get better rates:
• Married drivers
• Drivers older than 25
• Young retirees (55 years old)
• Elder drivers (i.e., over 65) who don’t drive regularly
• Residents of rural and less-populated areas (hey, all you folks in rural Nevada!)
Also, don’t forget that your credit score can affect your rate. So if you’ve got a high score or recently improved it, comparing rates might be a good option.
2. Change the way you get and pay bills.
Options like these get you discounts with certain insurance companies, including many of our insurance carriers
• Paying your car insurance premium in full
• Having payments automatically withdrawn from your checking account
• Choosing to get your bills electronically
Paying in full or signing up for automatic payments could also eliminate installment fees. Contact us today to see how we can change your payment options.
3. Consider choosing higher deductibles.
If you are in a stable financial position, raising your deductibles is a good cost-saving option, especially if you own an older vehicle. For example, raising your deductibles from $200 to $500 could save you up to 30 percent on collision and comprehensive coverage, according to the Insurance Information Institute. Just make sure before you opt for a higher deductible that you’d be able to pay your deductible without depleting your savings.