Confessions of an insurance agent -10 ways to save on your auto insurance.
Auto insurance is a necessity and by law should be carried by all. There are many ways our insurance premiums can increase for example a speeding ticket or an at fault accident and adding a youthful driver. With so many ways for our premiums to increase, what are some ways we can actually save? As a licensed property and casualty insurance agent I will fill you in on some ways to decrease your auto insurance premiums.
1. Many companies offer discounts if you insurance both your auto and home under one company. The savings can be as much as 15%-20%. Take advantage of those savings!
2. A few companies offer youthful driving programs that inform teenage drivers about the dangers of drunk driving and the importance of responsible decision making. Upon completion of a video or class they receive savings on their insurance policy that can be as much as a 25% savings!
3. Inform your insurance agent if you are retired or unemployed. Switching your car usage from commuter to pleasure use can drop the price by another 10%-15% due to less exposure driving to and from work.
4. Senior citizens can benefit from Senior Defensive program discounts offered by many insurance companies. The savings really add up and help monthly payments.
5. Many insurance companies also offer discounts for professionals such as real estate agents, architects, nurses, doctors, and CPA’s. These discounts can add an extra 10% off a year.
6. Insuring your business with the same company can save an extra 10% a year.
7. Increasing your deductibles can significantly lower your premiums due to a claim being less likely filed since the deductibles are higher and must be paid out of pocket.
8. Changing an older car from full coverage to liability can almost cut a premium in half, since you are now only insuring the repair costs of the other party and not your car.
9. Insuring more than one vehicle. Many insurance companies offer multiple car discounts that can be as much as 5%-15%.
10. Paying the entire premium up front or 50% up front and the remaining 50% later. Many companies charge a monthly service fee which can range from $4-$7 depending on the amount of your premium. Just being on the monthly plan costs almost $48- $84 a year. By just paying up front you already save on the monthly service charge.
There are several ways you can save on your auto insurance and I have just proved 10 ways to do so. Remember to keep close contact with your insurance agent; you might even end up liking him or her. Check your policy to see if anything is missing or ask your agent to review your policy for any discounts that you may be entitled to. By law we are all obligated to obtain auto insurance but it doesn’t have to cost us an arm and a leg!