So you're shopping around for auto insurance. Well, there are a lot of ways, at least 11, that you can save money. Many of these money-saving ideas may apply to you.
ONE INSURER, MULTIPLE POLICIES
Do you have a homeowners or renters insurance policy? If so, is it with the same insurance company that provides you auto insurance? If the answer is no, you're probably paying too much for both policies. Almost every insurance company that sells auto insurance wants its policyholders to also buy homeowners or renters insurance. THE MICHAEL G. CAMPBELL INSURANCE AGENCY OFFERS THE BEST MULTI-POLICY DISCOUNTS IN THE INDUSTRY! Usually, these discounts are at least 10% and some insurers apply the discounts to both the auto and the homeowners/renters policy.
*Tip: Talk to Mike about multi-policy discounts for YOU.
GOOD DRIVER, GOOD PRICE
It's no secret that the better your driving record, the less you will pay for auto insurance. But did you know most people that qualify as good drivers are eligible for discounted premiums? Yet, some good drivers pay a lot more than others. Many auto insurers are actually a collection of several insurance companies, each catering to a certain type of driver. The WORST drivers are placed in one company, the BEST in another and the rest wind up in the MIDDLE company. This MIDDLE group may pay less than the WORST drivers, yet pay more than the BEST drivers. Most people are unaware of the existence of this grouping of insurance companies or which group within the companies has the best prices. We believe a spotless driving record should be rewarded with the lowest price any insurance company has to offer.
*Tip: Make sure you're getting the best discount for your driving record. Talk to Mike and be a safe driver. It can definitely save you money.
THE BEAUTY OF THE BUS (OR OTHER MASS TRANSIT)
Do you drive to and from work? If you do, you are paying a premium to do so. Insurance companies charge significantly higher premiums if you drive to work. Also, the longer your commute (in miles, not minutes), the higher the premium.
*Tip: Some drivers should consider mass transit. You will reap definite savings on gas and lower insurance costs.
LOW MILEAGE, LOW PRICE
Most people will drive 1,000 to 1,250 miles a month. That is what insurance companies consider average use.
*Tip: If you drive less than the average, you could be eligible for low-mileage discounts, which some insurers offer.
HIGH-PROFILE, HIGH COST
The type of car you drive is a major factor in what you pay for insurance. Is your vehicle a magnet for thieves? Is your car more expensive to repair than most cars? If the answer to either of the last two questions is YES, you are paying more for insurance than the average car owner.
*Tip: Call Mike to get detailed information on your vehicle(s) or a vehicle you are thinking of buying, or write to the Insurance Institute for Highway Safety (1005 North Glebe Rd., Arlington, VA 22201) and ask for the Highway Loss Data Chart.
RAISE YOUR DEDUCTIBLE
The deductible is the amount you pay up front, before the insurance company pays for your claim. For example, if your deductible is $250 and you have an accident in which your car sustains $1,000 in damage, you pay the first $250 and your insurer pays the balance, $750. The lower the deductible you choose, the higher premium you pay. Insurance is designed to take care of large, catastrophic losses, not small ones.
*Tip: If it has been years since you've had an accident, you may want to raise your deductible and pay less each year for insurance.
DROP UNNECESSARY COVERAGE
Let's say you have an older car, one not worth a lot. There is little point in having collision and comprehensive coverage. Your car's value may not warrant expensive insurance protection. Remember, you have to subtract your deductible from any potential payout you might receive.
*Tip: As a general rule, any car worth less than $1,000 does not need comprehensive and collision coverage. Between the deductible and the extra expense of this coverage, the cost is probably greater than the benefit. Learn the value of your car. An auto dealer can tell you, or you can check out Kelly Blue Book values online at www.kbb.com.
DISCOUNTS, DISCOUNTS, DISCOUNTS!
Auto insurance companies offer several discounts for a variety of reasons: automatic seat belts, air bags, anti-lock brakes, anti-theft devices, etc. There are discounts for drivers who are good students, which are especially valuable if you have teenage children who will be on your policy. Make sure you are taking advantage of all the discounts available to you!
*Tip: Ask Mike about the Y.E.S. discount, which can save you up to 20% on your premium.
TAKING THE DEFENSIVE
Many insurance companies also offer discounts to those who have taken defensive driving courses recently.
LOW-COST AND HIGH-COST AREAS
Are you planning to move? If you are, you should take into account the cost of insurance. Generally, the more urban the area, the higher the premium. The costs can vary even within a community.
*Fact Rates can greatly vary from state to state. If you're living in New Jersey, Massachusetts or Hawaii, you're paying several times more, on an average, than you would in North Dakota, South Dakota or Idaho.
WHERE CREDIT IS (OR IS NOT) DUE
Is your credit record better than your driving record? If you have a good credit record, you could be eligible for discounted premiums from several auto insurance companies. Some insurers now use your credit history as a major factor in determining what to charge you for auto insurance. In some cases, with many companies, you can save money by shifting your business to an insurer that uses credit as a rating factor.
*Tip: Regardless of your credit status, you should talk to Mike to make sure you receive the maximum benefit from your credit record.
ONE INSURER, MULTIPLE POLICIES
Do you have a homeowners or renters insurance policy? If so, is it with the same insurance company that provides you auto insurance? If the answer is no, you're probably paying too much for both policies. Almost every insurance company that sells auto insurance wants its policyholders to also buy homeowners or renters insurance. THE MICHAEL G. CAMPBELL INSURANCE AGENCY OFFERS THE BEST MULTI-POLICY DISCOUNTS IN THE INDUSTRY! Usually, these discounts are at least 10% and some insurers apply the discounts to both the auto and the homeowners/renters policy.
*Tip: Talk to Mike about multi-policy discounts for YOU.
GOOD DRIVER, GOOD PRICE
It's no secret that the better your driving record, the less you will pay for auto insurance. But did you know most people that qualify as good drivers are eligible for discounted premiums? Yet, some good drivers pay a lot more than others. Many auto insurers are actually a collection of several insurance companies, each catering to a certain type of driver. The WORST drivers are placed in one company, the BEST in another and the rest wind up in the MIDDLE company. This MIDDLE group may pay less than the WORST drivers, yet pay more than the BEST drivers. Most people are unaware of the existence of this grouping of insurance companies or which group within the companies has the best prices. We believe a spotless driving record should be rewarded with the lowest price any insurance company has to offer.
*Tip: Make sure you're getting the best discount for your driving record. Talk to Mike and be a safe driver. It can definitely save you money.
THE BEAUTY OF THE BUS (OR OTHER MASS TRANSIT)
Do you drive to and from work? If you do, you are paying a premium to do so. Insurance companies charge significantly higher premiums if you drive to work. Also, the longer your commute (in miles, not minutes), the higher the premium.
*Tip: Some drivers should consider mass transit. You will reap definite savings on gas and lower insurance costs.
LOW MILEAGE, LOW PRICE
Most people will drive 1,000 to 1,250 miles a month. That is what insurance companies consider average use.
*Tip: If you drive less than the average, you could be eligible for low-mileage discounts, which some insurers offer.
HIGH-PROFILE, HIGH COST
The type of car you drive is a major factor in what you pay for insurance. Is your vehicle a magnet for thieves? Is your car more expensive to repair than most cars? If the answer to either of the last two questions is YES, you are paying more for insurance than the average car owner.
*Tip: Call Mike to get detailed information on your vehicle(s) or a vehicle you are thinking of buying, or write to the Insurance Institute for Highway Safety (1005 North Glebe Rd., Arlington, VA 22201) and ask for the Highway Loss Data Chart.
RAISE YOUR DEDUCTIBLE
The deductible is the amount you pay up front, before the insurance company pays for your claim. For example, if your deductible is $250 and you have an accident in which your car sustains $1,000 in damage, you pay the first $250 and your insurer pays the balance, $750. The lower the deductible you choose, the higher premium you pay. Insurance is designed to take care of large, catastrophic losses, not small ones.
*Tip: If it has been years since you've had an accident, you may want to raise your deductible and pay less each year for insurance.
DROP UNNECESSARY COVERAGE
Let's say you have an older car, one not worth a lot. There is little point in having collision and comprehensive coverage. Your car's value may not warrant expensive insurance protection. Remember, you have to subtract your deductible from any potential payout you might receive.
*Tip: As a general rule, any car worth less than $1,000 does not need comprehensive and collision coverage. Between the deductible and the extra expense of this coverage, the cost is probably greater than the benefit. Learn the value of your car. An auto dealer can tell you, or you can check out Kelly Blue Book values online at www.kbb.com.
DISCOUNTS, DISCOUNTS, DISCOUNTS!
Auto insurance companies offer several discounts for a variety of reasons: automatic seat belts, air bags, anti-lock brakes, anti-theft devices, etc. There are discounts for drivers who are good students, which are especially valuable if you have teenage children who will be on your policy. Make sure you are taking advantage of all the discounts available to you!
*Tip: Ask Mike about the Y.E.S. discount, which can save you up to 20% on your premium.
TAKING THE DEFENSIVE
Many insurance companies also offer discounts to those who have taken defensive driving courses recently.
LOW-COST AND HIGH-COST AREAS
Are you planning to move? If you are, you should take into account the cost of insurance. Generally, the more urban the area, the higher the premium. The costs can vary even within a community.
*Fact Rates can greatly vary from state to state. If you're living in New Jersey, Massachusetts or Hawaii, you're paying several times more, on an average, than you would in North Dakota, South Dakota or Idaho.
WHERE CREDIT IS (OR IS NOT) DUE
Is your credit record better than your driving record? If you have a good credit record, you could be eligible for discounted premiums from several auto insurance companies. Some insurers now use your credit history as a major factor in determining what to charge you for auto insurance. In some cases, with many companies, you can save money by shifting your business to an insurer that uses credit as a rating factor.
*Tip: Regardless of your credit status, you should talk to Mike to make sure you receive the maximum benefit from your credit record.
