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5 tips for better value on your car insurance

Dec 21 2011

Wayne Texeira  Marketing Director, CFMP 

I don’t know anyone who doesn’t like to save money. Have you ever stood in line at the grocery store behind the customer with a lot of coupons? Watching their grocery bill decrease with every beep? It’s great to be so organized, but I can’t seem to manage coupon clipping.

Luckily, it’s not as complicated to save on your car insurance and maximize your coverage. By taking a few minutes to review your coverage, you can save without skimping on the coverage. Here are some key points that can help you get the biggest bang for your buck on your insurance.

  1. Take advantage of discounts- Consolidating coverage with one company usually provides savings on both your auto and home/renter policies. Discounts are also available for multi-vehicles, good driver, good student, student away at school, anti-theft, auto club, low mileage, etc.

  2. Increase your deductible- A lower deductible reduces out of pocket costs in a claim, but increasing it from $300 to $1000 can save hundreds each year.

  3. Use EFT or pay in full to avoid fees- While installment payments can help a budget, the service fees can add up. Using EFT often reduces or waives fees.

  4. Know what your car is worth- Compare the value of your car to your deductible and cost of coverage. For older cars, it may not make sense to have collision damage coverage if you’re car isn’t worth much.

  5. Compare options- Every insurance company is unique in how it sets insurance rates. Find an agent (like us) that works with multiple insurance companies and does the work of comparing options between companies for you. It’s not just about price…it’s about balancing price and solid coverage to protect you in a major claim.

     

Comments
Total: 2 Comment(s)
Jade Brunet
  I am always looking for ways to save money. I would love some tips on how to economize on car insurance. The point about comparing options with other insurance companies is a wise move. I will definitely be looking into this. Thanks.
· reply ·
Murphy Insurance
Murphy Insurance  Because we represent 8 different auto insurance companies our Associates can compare options for you among a variety of options to help you find the best value. Call or email us.
· reply ·