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Four Tips to Lower Your Auto Premiums
We all want to have lower automobile insurance premiums without sacrificing coverage or service. Below are four ways in which you may be able to lower your premiums. If you think these tips can be applied to your policy premium, call our office and speak to your FirstChoice professional today.
- Increase your deductible. A deductible is the dollar amount paid before the insurance coverage company pays your claim. By increasing your deductible, you increase your share of the risk to insure your automobile. What you really want to insure is the risk of a large, catastrophic loss, not the losses you are able to pay for out of your own emergency reserves.
- Eliminate or reduce unnecessary coverage. Some auto is aimed at protecting your vehicle and providing for medical expenses in the event of an accident or mishap. If you have health insurance coverage and your insured vehicle is not very valuable, you may not need the extra coverage.
- Drive a car with low theft loss and accident history. Check with the Insurance Institute for Highway Safety for theft loss and accident statistics of your automobile. In addition, your insurer is likely to offer a discount if you you're a car alarm or other anti-theft device.
- Drive safely. Safe driving is an important way to avoid accidents in the first place. Over time, a safe driving record means fewer claims and lower risk. Insurers will reward you for these good habits.