Up your
deductible - mine's at $1000. Yes, it seems scary, but the average claim is
every 8 years and in that time I've had more than saved $1000. Also, if your
older car is worth less than $2000, drop your collision and comprehensive
coverage. You'll save enough in premiums in a few short years to pay for the
car. Check kbb.com or Edmunds.com for used car values.
If I get in an
accident, will my rates rise? Some insurance companies want you to pay 7-15%
more on the front end for "forgiveness" in your first accident. But if you've
been with a company for 5 years, they'll usually do it anyway. Check.
This tip will cost you money but could save you a boatload if you are in an
accident. The state has minimum requirements for insurance coverage. Like,
$50,000 per person, $100,000 per accident. Well, I increased mine to $100,000
and $300,000 and it only cost me about $3 per month. But with rising medical
costs and lawsuits, this protects my assets - yes - my house and my other
unsmashed car.
Now, more than before, your credit score has an effect on your
insurance premiums. Make sure its OK at annualcreditreport.com.
You can get one
free credit report per year. Of course they want to keep your credit score
number a secret and you have to pay for the actual number, but just use the free
information to make sure your credit is OK.
Premiums are based upon your driving
record, type of vehicle and credit score.
We hope these tips can help you save money on your car insurance. We consumers
can use all the help we can get.
