Your Car Insurance Guide

A lot of times people lock into their car insurance plan and then forget about it. If this is the case with you, you might want to consider taking a bit of time to see if you can lower your current rate and save a little (or a lot of) money in the meantime. Here are three ways that you can lower your car insurance payments.

1. Request higher deductibles and get rid of unnecessary add-ons. Your deductible is the amount you pay before your insurance money kicks in. If you have a good driving record you might want to consider increasing your deductible. By increasing it just a few hundred dollars, you can save any where from 15 – 30% on your annual insurance bill. You might also want to drop any coverage you don’t need, like collision and/or comprehensive if you have an older car and a good driving record.

2. Ask about discounts. There are plenty of discounts available for all kinds of people and situations. For example, if you carpool quite a bit to work, you might qualify for a “low-mileage discount” with certain insurance companies. Other discounts are available for seniors, retirees, and teenagers with good grades. Certain occupations are available for discounts as well as discounts for good credit and driving records. Make sure you explore all your discount options with the insurance company.

3. Drive a low-profile car. The more expensive your car, the higher you will pay for insurance. If your car is expensive to repair (like a lot of German cars) or is a popular car with thieves, your premiums will also be much higher. You can find out where your cars risk factor stands at the Insurance Institute for Highway Safety (iihs.org). Any extra safety features on your car like anti-lock brakes and air bags should be considered, as these will help lower your costs.

Finally, be sure to do some shopping around. The internet has made shopping for Florida car insurance an incredibly competitive market, so use this to your advantage and you’ll be able to save money on your annual costs.