Money is always tight, especially during the holiday season. The last thing you want is to spend any more than you have to on your auto insurance. Aside from the obvious thing—maintaining a clean driving record—is there anything else you can do to lower your auto insurance bill without skimping on coverage?
Yes, there is! Here are five things you can do to make sure your auto insurance bill is the lowest it can be:
1. Keep your credit record spotless. Why does your insurance company care about your credit rating? Because according the Insurance Information Institute (III), research shows that people who effectively manage their credit have fewer claims—something insurance companies love!
If your credit rating could use some improvement, make it better by paying all your bills on time, and reducing the overall amount you owe. (Click here for more tips on improving your credit score.)
2. Choose your vehicle wisely. If you’re in the market for a new car—or even just one that’s new to you—check with your insurance agent before you sign on the dotted line. Some of our clients have been unpleasantly surprised at how much insurance for their new ride cost them. Auto insurance premiums are calculated by using a number of factors, including how safe a vehicle is, how much it costs to repair it, and how likely it is to be stolen.
3. Ask about discounts. Be sure to ask your L & M Insurance Group agent about all applicable discounts. In addition to discounts for safety features like anti-lock brakes and air bags, some companies offer discounts if you’ve taken a defensive driving course, if you drive a lower number of miles than average per year, or if your teen driver is a good student or has taken a driver’s education course. Every little bit helps.
4. Consider raising your deductibles. If you have a claim, your deductible is what you pay before your insurance policy does. Raising your deductibles can reduce the cost of your comprehensive and collision coverage, but you’ll want to be sure you have enough money saved to pay that higher deductible if you have a claim.
5. Shop around. This is where an independent agency like L & M Insurance Group really shines. We represent more than 15 auto insurance companies, our staff has served the insurance needs of the Brandon, Riverview, and Valrico area for more than 25 years, and we’re committed to finding the best deal for your situation. Give us a call at (813) 672-4100, or email us for a free, no obligation quote.