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  How To Save On Auto Insurance  


There are many ways you can save money on auto insurance:

1.   Insuring multiple cars with the same company will save up to 30%.  You could also get a small discount by bundling home and auto insurance with one company.

2.   Dropping collision coverage will save 15-30%.  If your car gets totaled you would need to buy a replacement car, so this idea is perhaps best used with less valuable cars.  Another way to save is to raise your deductible on collision coverage (and then drive very safely!)

3.   Dropping comprehensive coverage will save up to 15%.  It mostly covers theft and occasionally the damage caused by bad weather, fire, and vandalism.  If you have a visible anti-theft device such as a car alarm and you park with reasonable caution, the chances of your car being stolen are very small in most areas.  Most thieves will just move on and steal an unprotected car.

4.   Good citizen discounts could save 20% or more.  These discounts are often available for distinguished professionals, students with at least a "B" average, and people who have good credit scores (or who have cleaned up previous bad score.)

5.   A low mileage discount could save up to 10%.  These are usually available to people who drive less than 7,500 miles per year.

6.   Be sure to shop around.  J. D. Power has the most unbiased ratings of insurance companies that we've seen.Consumer Reports used to offer an unbeatable service that compared insurance prices, but unfortunately it's no longer available.  Fortunately, several other sites compare low-cost auto insurance:  InsWeb and Progressive are two good places to start.  InsWeb has been the consensus leader in comparing online insurance quotes ever since they joined forces with Quicken Insurance.  We are hesitant to recommend Progressive because it's a private insurer, and we aren't sure that their rate comparisons are as unbiased as they claim.  But they do compare rates from several major insurers that you may not see on InsWeb, including State Farm, Allstate and Farmers Insurance.

7.   You might also call a local independent agent or two to see if they can find you an inexpensive policy from a company that isn't online.

8.   Remain accident-free to save up to 20%, or perhaps even more if you previously have had a bad driving record.



(Next Gem: Switching Auto Insurance)

 
   
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