None of us want to pay more for car insurance than we have to. When you contact an independent car insurance agent, we help you to save money on your insurance with these strategies...
OPTMIZING YOUR DEDUCTIBLE
Your car insurance deductible is how much money you have to pay for your repairs before the insurance company covers the rest. For instance, if your deductible is $500 and you get into a car accident that causes $5,000 worth of damage, you will only have to pay $500 towards the repair.
A lower deductible generally means your car insurance premium will be higher. Your premium is how much you pay monthly (or every 3 months, or every 6 months, etc.) for your car insuance policy. Fortunately, the opposite is true too. If you go for a higher deductible, you would have to pay more towards your car repairs but your premium will be lower too.
Increasing your deductible from $250 to $1,000 can save you as much as 40% off of your premium! You car insurance agent can work with you to figure out the perfect balance between your deductible and your premium so you can get the most affordable car insurance possible.
CONSIDER DITCHING YOUR COLLISION AND COMPREHENSIVE COVERAGE
This strategy depends on your car's age and value. If you have an older car, you could potentially end up paying more for your collision and comprehensive coverage than your car is actually worth—obviously you shouldn't do that! A rule of thumb is to add up your premiums and increase it tenfold. For an easy example, if your premiums add up to $1,000, multiply it by 10 to get $10,000. If your car is worth less than that $10,000 then you can probably ditch that extra coverage. Again, I gotta stress that these hypothetical scenarios are best discussed with your car insurance agent!