5 Tips to Maximize Car Insurance Value

December 21, 2011||inPersonal Insurance|auto insurance, deductibles, personal insurance, savings


Wayne Texeira, Marketing Director, CFMP, AINS, AIS, API

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.

5 Tips for Better Value on Your Car Insurance
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Luckily, saving on your car insurance and maximizing your coverage is not as complicated. You can save without skimping on the coverage by taking a few minutes to review your coverage. Here are some key points that can help you get the biggest bang for your insurance buck.

  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 drivers, good students, students 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 vehicle to your deductible and cost of coverage. It may not make sense for older cars to have collision damage coverage if your car isn’t worth much.
  5. Compare options- Every insurance company is unique in setting insurance rates. Find an agent (like us) who works with multiple insurance companies and compares options between companies for you. It’s not just about price…it’s about balancing price and solid coverage to protect you in a significant claim.

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At Murphy Insurance, we are here to assist you in obtaining the appropriate auto insurance. Choosing the appropriate auto insurance coverage can be overwhelming. Every insurance company has its unique offerings, making it challenging to compare options effectively. That’s where we shine. We simplify the process by helping you evaluate provider and policy choices, seek out discounts, and optimize your car insurance within your budget constraints. Ultimately, our goal is to provide you with peace of mind, knowing that you and your loved ones are well-protected.