9 Ways To Lower Your Auto-Car Insurance Costs


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You may not realise it, but the insurance rates you pay for your car
can vary dramatically depending on the insurance company, agent or broker you
choose, the coverage you request and the kind of car you drive. Listed below
are a number of things you can do right now to lower your insurance costs.

1. COMPARISON SHOP.

 

Prices for the same coverage can vary by hundreds of dollars, so it
pays to shop around. Ask your friends, check the yellow pages or call your
state insurance department (phone numbers are on back page). You can also
check consumer guides, insurance agents or companies. This will give you an
idea of price ranges and tell you which companies or agents have the lowest
prices. But don't shop price alone.

The insurer you select should offer both fair prices and excellent
service. Quality personal service may cost a bit more, but provides added
conveniences, so talk to a number of insurers to get a feeling for the
quality of their service. Ask them what they would do to lower your costs.
Check the financial ratings of the companies too. Then, when you've narrowed
the field to three insurers, get price quotes.

2. ASK FOR HIGHER DEDUCTIBLES. Deductibles represent the amount
of money you pay before you make a claim. By requesting higher deductibles on
collision and comprehensive (fire and theft) coverage, you can lower your
costs substantially. For example, increasing your deductible from $200 to
$500 could reduce your collision cost by 15% to 30%.

3. DROP COLLISION AND/OR COMPREHENSIVE COVER ON OLDER CARS.

It may not be cost-effective to have collision or comprehensive
coverage on cars worth less than $1000 because any claim you make would not
substantially exceed annual cost and deductible amounts. Auto dealers and
banks can tell you the worth of cars.

4. ELIMINATE DUPLICATE MEDICAL COVER.

If you have adequate health insurance, you may be paying for duplicate
medical coverage in your auto policy. In some states, eliminating this
coverage could lower your personal injury protection (PIP) cost by up to 40%.

5. BUY A "LOW PROFILE" CAR.


Before you buy a new or used car, check into insurance costs. Cars that are
expensive to repair, or that are favourite targets for thieves, have much
higher insurance costs. Write to the Insurance Institute for Highway Safety,
1005 North Glebe Road, Arlington, VA 22201 and ask for the Highway Loss Data
Chart.

6. CONSIDER AREA INSURANCE COST IF YOU ARE MAKING A MOVE.

Costs tend to be lowest in rural communities and highest in centre
cities where there is more traffic congestion.

7. TAKE ADVANTAGE Of LOW MILEAGE DISCOUNTS.

Some companies offer discounts to motorists who drive fewer than a
predetermined number of miles a year.

8. FIND OUT ABOUT AUTOMATIC SEAT BELT OR AIR BAG DISCOUNTS.

You may be able to take advantage of discounts on some coverage if you
have automatic seat belts and/or air bags.

9. INQUIRE ABOUT OTHER DISCOUNTS.

Some insurers offer discounts for more than one car, no accidents in
three years, drivers over 50 years of age, driver training courses,
anti-theft devices, anti-lock brakes and good grades for students. See the
following page for a guide to these and other discounts.

INQUIRE ABOUT DISCOUNTS FOR:


COMPANY A COMPANY B COMPANY C

$500 deductible _______ _______ _______

$1,000 deductible _______ _______ _______

More than 1 car _______ _______ _______

No Accidents in 3 Years _______ _______ _______

No Moving Violations in 3 Years _______ _______ _______

Drivers Over 50 Years of Age _______ _______ _______

Driver Training Course _______ _______ _______

Anti-Theft Device _______ _______ _______

Low Annual Mileage _______ _______ _______

Automatic Seat Belt _______ _______ _______

Air Bag _______ _______ _______

Anti-Lock Brakes _______ _______ _______

Good Grades for Students _______ _______ _______

Auto and Homeowners Coverage with the Same Company _______ _______
_______

College Students Away From Home Without a Car _______ _______ _______

OTHER DISCOUNTS:

_______________ _______ _______ _______
_______________ _______ _______ _______
_______________ _______ _______ _______
_______________ _______ _______ _______

YOU CAN REACH YOUR STATE INSURANCE DEPARTMENT AT:

 

AL: 205-269-3550
AK: 907-465-2515
AS: 684-633-4116
AZ: 602-255-5400
AR: 501-686-2900
CA: 800-927-4357
CO: 303-894-7499
CT: 203-297-3800
DE: 800-282-8611
DC: 202-727-8002
FL: 800-342-2762
GA: 404-656-2056
GU: 671-477-5144
HI: 800-468-4644
ID: 208-334-2250
IL: 217-782-4515
IN: 800-622-4461
IA: 515-281-5705
KS: 800-432-2484
KY: 502-564-3630
LA: 504-342-5900
ME: 207-582-8707
MD: 800-492-6116
MA: 617-727-3357
MI: 517-373-9273
MN: 800-652-9747
MS: 601-359-3569
MO: 314-751-2640
MT: 800-332-6148
NE: 402-471-2201
NV: 800-992-0900
NH: 800-852-3416
NJ: 609-292-5363
NM: 505-827-4500
NY: 212-602-0203
NC: 800-662-7777
ND: 800-247-0560
OH: 800-686-1526
OK: 405-521-2828
OR: 503-378-4271
PA: 717-787-5173
PR: 809-722-8686
RI: 401-277-2223
SC: 803-737-6117
SD: 605-773-3563
TN: 800-342-4029
TX: 512-463-6464
UT: 801-530-6400
VT: 802-828-3301
VI: 809-774-2991
VA: 800-552-7945
WA: 800-562-6900
WV: 800-642-9004
WI: 800-236-8517
WY: 307-777-7401

FOR MORE INFORMATION, CALL THE NATIONAL INSURANCE CONSUMER HELP LINE
(NICH) AT 1-800-942-4242





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