Consumers are meeting rising gasoline prices and other vehicle operating costs by capitalizing on lower auto insurance rates, according to leading insurers.
Auto policy costs and regulations vary considerably from state to state, but there are a number of areas that consumers are able to control and adjust to optimize prices and quality. Here are 10 ways of keeping your rates down:
- Check Credit Rating. In all states except California and Georgia, an individual’s credit rating is a key tip that affects auto insurance rates. Get copies of your credit report and correct any inaccurate derogatory points.
- Check Motor Car Report. Like credit reports, state driving records may include inaccurate data on personal driving records. Report errors to both your state motor car department and your insurance carrier.
- Double-Check Accident Reports. Local law enforcement and insurance accident reports occasionally include mistakes that will lead to a higher rate.
- Never Let Coverage Lapse and Review Deductibles. Maintaining coverage without a lapse makes a significant difference in rates. Additionally, drivers almost always save on premiums with higher deductibles of $500 or $1,000.
- Look for Package Rates. In addition to multiple-car discounts, consumers often save substantially by packaging all their insurance policies together with one company.
- Don’t Miss Good-Student and Mature-Driver Discounts. Most insurers reduce rates for mature drivers (55 years and over) and for students who carry a 3.0 grade point average or better.
- Take a Driving Safety Course. Many insurers will cut rates for drivers who take an accepted driving safety course.
- Don’t Forget vehicle Pool Credit. Many auto carriers drop premiums if you carpool to the office, especially if you drive more than 10 miles round-trip.
- Check Rates Before Buying a New Vehicle. Insurance rates vary considerably from car to car.
- Take Credit for Safety/Security Features. Drivers should make sure they are receiving lower rates for safety features such as air bags and antilock brakes.
Offset higher driving costs by saving on insurance.