How to Lessen Your Auto Insurance Costs

Just like with homeowner insurance, there are steps you can take to decrease your out-of-pocket auto insurance expenditures.

The first is to consider increasing your comprehensive and collision deductibles. Taking your deductibles to the next level (e.g., from $250 to $500, $500 to $1,000, etc.) can offer real savings that can quickly accumulate to cover the increase in deductible amount.

Next, examine how you are paying your premiums along with how you are receiving your policy materials. In other words, enroll in e-billing and/or e-policy delivery if available, as some companies offer discounts for this. Also, consider enrolling into an automatic EFT payment plan, as installment fees are often reduced on such pay plans. Finally, if your budget allows for it, consider paying the full-term premium up front, as companies often provide a paid-in-full discount that applies when the full premium is paid up front.

With school being back in session, don’t forget to let us know if you have any drivers who are eligible for a good student discount! Also, if you have a college-aged student without a car more than 100 miles away from home, please advise us so that we can add the appropriate discount.

Lastly, if your driving record is good, consider adding telematics onto your auto insurance policy. Most companies offer a mobile application that will measure driving activities such as when your vehicle is driven, how the vehicle is driven (turning, speeding, acceleration, and braking), and whether the driver’s cell phone is being used while driving. Telematics discounts vary by insurance company, so reach out to your agent or account manager for additional details.