Lowering the Cost of Auto Insurance

There are a number of factors that go into determining the cost of your car insurance premiums, and we have some helpful suggestions to help you lower your costs.

• Models make a difference
  Shopping for a new car? Or are you shopping for a collector, classic or antique car? The type you choose can affect your costs. High-end luxury cars and performance vehicles cost more to repair, maintain and insure than family sedans. The same applies to classic cars: the more expensive to buy, the more expensive to repair, maintain and insure. The age of the car also makes a difference. Newer cars might cost more than older ones.
• Safety saves
  Not only is it smart, but a clean, safe driving record can also lower your rates. The safety equipment you choose for a vehicle may mean discounts. Ask your agent about other ways to be rewarded for safe driving and vehicle protection (such as anti-theft devices). In addition, taking a driver-training or accident-prevention course may qualify you for additional discounts.
• One company + combined policies = lower cost
  The more insurance policies you have with a company, the more substantial the savings. So, try having one company cover all of your insurance needs.
• Determine your deductible
  A deductible is the out-of-pocket amount you are willing to cover in the event of a loss. The higher your deductible, the lower your premium. Increasing your deductible saves you money. Decide if you’re comfortable paying more out-of-pocket after a loss later in order to save money now.
• Update your agent on any changes in your life
  Are you still insuring drivers who no longer live with you? Do you drive less for your job than you used to? Has your Insurance Bureau Score changed? Just graduated from college? Moved to a new neighborhood? Your teen driver getting good grades (they may qualify for a "good student" discount)? All of these things affect how much you pay and could result in discounts.

• How much you drive
  Drivers who use their car for business and long-distance commuting usually pay more than your average driver.
• Your age, gender, and marital status
  Statistics show that these factors relate to accident rates so they’re a consideration.
• Where you live
  Rates vary depending on city, state, sometimes even different neighborhoods and ZIP codes within a city. Insurance companies research the accident/claim rate in an area, and your premium will reflect that. Live in a high accident area? Expect to pay more.
• Your driving record
  Drivers with a history of accidents or motor vehicle violations (such as speeding tickets) generally pay more than those who are accident-free for several years.
• Your credit history
  Studies have shown that credit history relates to accident rates and may make you seem like a higher risk.