Saving on Auto Insurance

auto savings






There are a number of strategies one can use to save on automobile insurance and get the most for the insurance dollar:

If you have good medical coverage, consider dropping the medical option on your automobile policy since it mostly is a duplication of coverage provided under most health policies.

If you are a senior, take a safe driving course and get an additional discount. Insure your car with the same company that insures your home and get a 10% discount.

If you do not drive a lot, consider high deductibles or even self-insuring on collision and comprehensive. The less you drive the less chance you will be involved in an accident.

Some autos are more expensive than others to insure Each car is assigned a “symbol”. The higher the symbol, the higher the cost of insurance. If you are considering buying a car, call your agent and ask what symbol it is and how it affects your premium.

The cost to raise your liability limits from $100,000 to $300,000 is surprisingly inexpensive – and you triple your coverage.

If you don’t drive a car for long periods of time (winter lay-up) consider suspending the insurance for that period of time.

Insurance is high for young drivers – especially if they have their own car. Consider buying a reliable older car for your teenager where you can self-insure for collision and comprehensive without risking a big investment.

The author of this blog, Guy Hatfield CPCU CIC, can be reached at 203.256.5660.

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