Often times it can be difficult to know if you are getting the best deal possible on your auto insurance. Be sure to compare company to company to see how the quality and rates add up. Take the time to decide what coverage options are most valuable to you. Lastly, be sure you are getting all possible discounts you qualify for.
Compare other companies
While many times it is beneficial to stay with the same insurance company, it is not a requirement. Changing companies could potentially increase your policy savings. Compare prices and reviews of other companies to make sure that you are getting quality insurance for the best pricing, and be sure to look at the companies as a whole and not base your decision solely on price.
Things to consider when shopping for auto insurance
Begin by looking at the companies’ required coverage followed by their flex limits, optional coverage, and deductibles. Compare these numbers to your desired price range. Then decide on the items that are most important to you: a six-month or one year policy, personal property coverage, rental vehicle coverage, liability coverage, medical coverage, physical damage coverage, and road side assistance.
Policy discounts you may not be aware of
Most insurance companies will offer reduced pricing for good driving records and continuous insurance with no lapses in coverage, so be sure to verify with the company that they are giving you the correct pricing. Companies also offer discounts if you have multiple insurance protections, are accident free, are traffic violation free, and if you are 55 and retired.
Some insurance companies also give discounts to customers driving new cars. When purchasing a new car you might want to keep in mind that it is more expensive to insure a vehicle with higher repair costs, bad safety records, and a high theft rate. Check the Insurance Institute for Highway Safety website for vehicles’ risk levels. If you are 62 or older consider a reverse mortgage, the extra money it can get you could help to finance that new car you may want or need.
Ask the company if they offer car-safety discounts or low mileage discounts. Some companies give discounts for anti-lock brakes, air bags, automatic seat belts, an alarm system, and daytime running lights. Insurance companies also tend to give you discounts on you policy if you drive less than a certain predetermined amount.
You may want to also consider taking an AARP safety course. This course is available to take in class or online and gives a brief rules of the road refresher as well as helpful tips on defensive driving. By taking this class you may qualify for a multi-year saving from your insurance company.