subject: The Need for Life Insurance Continuing Education [print this page] The Need for Life Insurance Continuing Education
Six Great Ways to fight your rising auto insurance premiums
Summer's here and the gas prices creeping back into the $3.50 a gallon range, I'd like to share some tips I have recommended to my customers over the past 9 years to lower their rates and reduce their premiums.
1. Ask your agent or insurance company if you can add a deductible to your personal injury coverage. This coverage pays the medical bills and some other incidentals if you or your family is injured in or getting into or out of an automobile. Most companies offer an optional $200 deductible on this coverage and you should notice a significant savings.
2. Most states, if not all, will allow your insurance company to give you a discount off of certain coverage if you attend a 6 hour defensive driving course. These courses will usually take you back to your studying for your permit days but most find it a good refresher. This discount is usually about 8% off your total policy if all full time rated drivers on the policy take the course. The discount is valid for 3 years and may also help with points on your license.
3. More and more companies are now offering discounts to customers with youthful operators on their policy who maintain good grades. With the cost to insure young drivers so high every dollar counts. Some companies will also add another discount if the youngin takes a course either developed by or offered thru their company.
4. Evaluate your need to protect your car every year. If your car has gotten older and racked up a million miles the value may not be what you think it is. Check websites like Kellys Blue Book to find the value and then look to see what it costs to protect the car with comprehensive and collision coverage. If your car is worth $1500 and you carry a $1000 deductible you would only receive $500 after a total loss and may even see your policy surcharged for several years due to the claim!
5. Discounts, Discounts, Discounts. Go thru your policy with someone at your insurance company every year. Ask questions like "what discounts do you offer that I currently do not have". You are bound to find options like a 10% discount if you pay your policy in full rather than monthly. Or a 17% discount if you insure your home with the same company as you do your autos.
6. Do you only drive to the grocery store and back once a week? Most companies typically rate your policy on the belief that you drive more than 7500 miles a year. If you can prove to them that you drive less you will be sure to see a significant rate reduction for that particular car.
Although this is a good starting point there are many more ways to save on your auto insurance. It never hurts to ask and when the going gets tough don't hesitate to pick up the phone or walk into a local office for a friendly competitive quote.
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