Auto Insurance is one of the most important types of insurance, because every year there are millions of car accidents and 10s of thousands of people injured. Nearly every state in the country has requirements when it comes to auto insurance coverage. Here is a helpful list that explains the requirements in all of the states. Also a good local insurance agent will know the laws in your area and help you make the best decision possible. Here are some factors that can effect the cost of your auto insurance premiums.
1. Older Cars
With older cars, it may not make sense to have collision coverage, meaning if something happened to your car, insurance won’t replace your car. Obviously you still have to have liability insurance which would cover injuries. For example, if your 20 year old car was parked in your drive way and a tree fell on it, it may not be worth replacing. So instead of paying insurance to replace your car, you can save the money and cover the cost if something were to happen. This is only advisable if you have enough money or credit to cover the cost of a new or used car. Talk to your auto insurance agent to check and see if this is something that is a possibility with your car.
Changing your deductible is something that you can do with almost any type of insurance. The lower your deductible the more your auto insurance premiums will be and it goes the other direction as well. Raise your deductible and your insurance premium will be more. A good local insurance agent can advise you on how to best proceed with choosing the right deductible for you.
3. Auto Insurance + Homeowners Insurance
Another great way to save money is by combining your auto insurance with your homeowners insurance. Most insurance providers offer the ability to purchase both together which could save you money. If you have a local insurance agent, ask them to search to check all of their available carriers and see which is the best fit for you.
These are just a few tips that could effect your auto insurance. As you can tell one of the best things you can do is have a local auto insurance agent. We offer a better customer experience and also can quote from many different companies so that you get the best auto insurance possible.