Nine Ways to Lower Your Auto Insurance Costs Reviewed and Approved by: United States Office of Consumer Affairs, Consumer Federation of America, National Consumers League, National Association of Consumer Agency Administrators A Quick Look 1. Comparison Shop 2. Ask For Higher Deductibles 3. Drop Collision Comprehensive Coverages On Older Cars 4. Eliminate Duplicate Medical Coverages 5. Buy A "Low Profile" Car 6. Consider Area Insurance Cost If You Are Making A Move 7. Take Advantage Of Low Mileage Discounts 8. Find Out About Automatic Seat Belt Or Air Bag Discounts 9. Inquire About Other Discounts The Details You may not realize it, but the insurance rates you pay for your car can vary dramatically depending on the insurance company, agent or broker you choose, the coverages you request and the kind of car you drive. Listed below are a number of things you can do right now to lower your insurance costs. 1. Comparison Shop Prices for the same coverage can vary by hundreds of dollars, so it pays to shop around. Ask your friends, check the yellow pages or call your insurance department (phone numbers are on back page). You can also check consumer guides, insurance agents or companies. This will give you an idea of price ranges and tell you which companies or agents have the lowest prices. But don't shop price alone. The insurer you select should offer both fair prices and excellent service. Quality personal service may cost a bit more, but provides added conveniences, so talk to a number of insurers to get a feeling for the quality of their service. Ask them what they would do to lower your costs. Check the financial ratings of the companies too. Then, when you've narrowed the field to three insurers, get price quotes. 2. Ask For Higher Deductibles Deductibles represent the amount of money you pay before you make a claim. By requesting higher deductibles on collision and comprehensive (fire and theft) coverage, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision cost by 15% to 30%. 3. Drop Collision And/Or Comprehensive Coverages On Older Cars It may not be cost-effective to have collision or comprehensive coverages on cars worth less than 000 because any claim you make would not substantially exceed annual cost and deductible amounts. Auto dealers and banks can tell you the worth of cars. 4. Eliminate Duplicate Medical Coverages If you have adequate health insurance, you may be paying for duplicate medical coverage in your auto policy. In some s, eliminating this coverage could lower your personal injury protection (PIP) cost by up to 40%. 5. Buy A "Low Profile" Car Before you buy a new or used car, check into insurance costs. Cars that are expensive to repair, or that are favorite targets for thieves, have much higher insurance costs. Write to the Insurance Institute for Highway Safety, 1005 North Glebe Road, Arlington, VA 22201 and ask for the Highway Loss Data Chart. 6. Consider Area Insurance Cost If You Are Making A Move Costs tend to be lowest in rural communities and highest in center cities where there is more traffic congestion. The National Insurance Crime Bureau ranks more than 250 cities by auto theft rate. Insurance News Network lists the average cost of insurance for all 50 s. 7. Take Advantage Of Low Mileage Discounts Some companies offer discounts to motorists who drive fewer than a predetermined number of miles a year. 8. Find Out About Automatic Seat Belt Or Air Bag Discounts You may be able to take advantage of discounts on some coverages if you have automatic seat belts and/or air bags. 9. Inquire About Other Discounts Some insurers offer discounts for more than one car, no accidents in three years, drivers over 50 years of age, driver training courses, anti-theft devices, anti-lock brakes and good grades for students. See the following page for a guide to these and other discounts. $500 deductible ,000 deductible More than 1 car No Accidents in 3 Years No Moving Violations in 3 Years Drivers Over 50 Years of Age Driver Training Course Anti-Theft Device Low Annual Mileage Automatic Seat Belt Air Bag Anti-Lock Brakes Good Grades for Students Auto and Homeowners Coverage with the Same Company College Students Away From Home Without a Car You can reach your insurance department at: Alabama Mississippi Alaska Nebraska American Samoa Nevada Arizona New Hampshire Arkansas New Jersey California New Mexico Colorado New York Connecticut North Carolina Delaware North Dakota District of Columbia Ohio Florida Oklahoma Georgia Oregon Guam Pennsylvania Hawaii Puerto Rico Idaho Rhode Island Illinois South Carolina Indiana South Dakota Iowa Tennessee Kansas Texas Kentucky Utah Louisiana Vermont Maine Virgin Islands Maryland Virginia Massachusetts Washington Michigan West Virginia Minnesota Wisconsin Missouri Wyoming Montana
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