by STAFF WRITER Published April 27, 2011 Credit Unions Online
Whether you have a new car or one that has been reliably getting you around for many years, auto insurance is something everyone needs to stay financially protected. If you have been with the same company for many years, try shopping around to get comparisons of competing insurance rates.
As long as you have a good driving record (and often credit score), getting competitive quotes from other companies should be fairly simple. If your driving record is not so clean, there are still ways you can save on your auto insurance.
Higher deductibles on comprehensive and collision coverages can dramatically lower your auto insurance premium. Raising your deductibles to $1,000 from something low, like $50 or $100 will put more money in your pocket every month. Keep a rainy day fund to the side in case you need to for expenses up to the deductible resulting from a claim for an accident or theft.
Common Auto Insurance Discounts
Here is a list of discount opportunities from most auto insurance companies. Call your existing insurance provider to see if you qualify for any discounts you are not currently getting.
If you are turning 25 or 50
Good grades for student drivers
No moving vehicle violations
Accident-free for at least three years
Taken a safe driving course
Multi-vehicle discounts for families with more than one car
Insure vehicle with same insurance provider as your home owner's or rental insurance policy
Have anti-theft devices
Your vehicle has safety features, like side air bags
You drive less than 7,500 miles per year
A 10 minute phone call to your insurance company might save you hundreds per year. Take the time to review your policy and then call your insurance agent to lower your monthly insurance premiums right away.