Sunday, February 15, 2009

9 Ways to Lower Your Auto Insurance Costs

Posted by: Madeleine Brooks

1. Ask for higher deductibles

Request higher deductibles on collision and comprehensive (fire and theft) coverage and lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive cost by 15 percent to 30 percent.

2. Drop collision and/or comprehensive coverages on older cars

It may not be cost effective to have collision or comprehensive coverage on cars worth less than $1,000 because any claim you make would not substantially exceed annual cost and deductible amounts. Auto dealers and banks can tell you your car’s worth.

3. Buy a “low profile” car

Before you buy, check insurance costs because fast and expensive cars that cost more to repair and are a favorite target for thieves have much higher insurance costs.

4. Take advantage of low mileage discounts

Some companies offer discounts to motorists who drive a limited number of miles a year.

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1 comment:

  1. Many people are unaware of low mileage discounts even 80% of this category are unaware.But they can substantially lower their cost of insurance if they know this.Thanks for posting such a useful information