If you have an older car, you might want to consider dropping collision and comprehensive coverage. Collision coverage covers damages to your car when it collides with another object or vehicle. Comprehensive coverage on the other hand, covers your car if it is stolen or damaged by an animal, vandalized, or damaged by a storm.
Owners of cars worth less than their deductible and premiums are encouraged to drop collision and comprehensive insurance. Assess your situation and decide whether it’s worth it to pay more for coverages that only reimburse you for small amounts.
If you decide to drop collision and comprehensive, make sure you set aside money for car repairs or for a down payment on a newer car instead.
Buy a Car that is Cheap to Insure
Before buying a newer car, check the car insurance rates for the car makes you’re considering. Bear in mind that the vehicle you drive can affect your premium, especially when you buy collision and comprehensive insurance. Minivans and small SUVs are usually cheaper to insure than flashy cars.
Be a Safe Driver
Your insurance premiums may go up if you get into an accident or when you’re issued traffic tickets. When you get a ticket, you can get your violation points reduced or dismissed by going to traffic school. If you can keep any violation off your driving record, going to traffic school can save you lots of money.
Take advantage of discounts.
Insurers usually offer different ways to save money. To ensure that you’re getting discounts you’re qualified for, talk to your agents. Here are the most common discounts insurers typically offer their clients:
- Multiple Car Discount. If you own two or more vehicles, ask your agent if they offer discounts when you insure your vehicles with them.
- Multiple Policy Discount. Bundle your policy with the same insurer. Get more than one type of policy like car and home insurance or car and life insurance.
- Good Driver Discount. If you keep a clean driving record, your insurer may give you discounts on your premiums.
- Defensive Driving Course. Enrolling in one, especially when you’re 55 or older, may earn you discounts. Ask your agents if you are eligible.
- Good Student Discount. Some insurers offer discounts to students that can show proof that they have at least a B average in school.
- Driver-Training Classes. If you have a teen driver included in your policy, make sure you enrol them in driving classes. Several insurers usually offer discounts for doing so.
- Safer Car Discounts. If you install safety devices in your car, tell your agent. Some insurers may offer discounted premiums when anti-lock brakes, anti-theft devices, or airbags are installed in your car.
It’s important to keep in mind that car insurance rates usually vary among insurers. Get quoted by several companies at least every year to ensure that you’re getting the best deals that fit your needs.
Talk to an independent agency like us. Here at Valencia Insurance Group, we have a list of insurance carriers to choose from. Our agents are more than willing to assist you as you customize your policy to suit your car insurance needs. Aside from that, we also offer free insurance quotes by clicking here. Discuss your options with us, don’t hesitate to call (772) 344-8899 or visit us in person!