Thursday, March 1, 2012

Renewing Auto Insurance for Dummies

Before starting at Consumer United I would have had NO idea what different factors or tid bits of information I should know when renewing my auto insurance.  Everyone’s insurance premium rate is different and is based on a variety of factors such as; what car you drive; where you live; how old you are; driving record and so forth.  Brought to you directly from the Insurance Information Institute are some tips that you should know on renewing and getting the best price possible for you insurance!

1.)    Shop around!  Just like buying a car or house, take a look around the market place.  See what type of prices various insurance companies are offering and do a detailed comparison.
a.      Check out your QUOTE HERE! 
2.)    Before buying a car, contact some insurance companies and price out the auto insurance, repair costs, safety record and retail price of the car.
3.)    INCREASE your deductible!  I know it sounds silly but if you request a higher deductible (amount you pay before you insurance policy kicks in) you can actually lower the costs. 
4.)    Older Car? If the market value of your car is less than 10 times your auto insurance premium that you are paying it may not make sense to purchase the optional comprehensive or collision coverage.
5.)    Discounts Discounts Discounts!  Ask about various discounts that you may be eligible for such as
  •      Anti-theft devices
  •    Multiple Policies with the same company
  •      College students living out of the house
  •     Defensive driving courses
  •     Drivers Ed courses
  •      Good credit record
  •      Higher deductibles
  •      Low annual mileage
  •      Long-time customer and loyalty
  •     Multiple cars
  •      No accidents
  •      No moving violations
  •     Student drivers with good grades- Honor roll students!