In case you haven’t noticed, insurance rates for vehicle coverage are starting to skyrocket. The increase in distracted drivers has caused many more accidents, and newer vehicles have very expensive computer components that are making repairs almost cost prohibitive.
A number of factors could increase your rates, including a bad driving record, bad credit, driving long distances frequently, having an expensive car to repair, the state you live in and the insurance provider you choose.
HERE ARE SOME WAYS TO CUT YOUR AUTO INSURANCE COSTS:
- Check around with different companies and choose a company that is financially sound.
- Get rates for higher deductibles. This is the amount you will have to pay before your insurance will kick in. A higher deductible could save you some money, but don’t forget to put aside some funds so you’ll be able to pay the deductible when needed.
- Review the estimated rates before you buy a vehicle. Safer cars that are easy to repair will command lower insurance costs.
- Combine your auto policy with the same company as your home or renters’ insurance to get bundling credits.
- Ask about other discounts as appropriate: low mileage, good credit rating, multi-car discount, mature driver course credits, telemetrics that reward good driving skills (usually through the use of a phone app), etc.
- Stay with one auto company for over three years. Most companies give good customer credits for longevity.
- Young drivers are very costly to insure, but credits are available for driver education classes and good grades.
Angelyn Treutel Zeringue is president of SouthGroup Insurance Services, a CPA, PWCAM, CBIA and licensed Trusted Choice insurance agent. Reach her at www.southgroupgulfcoast.com, (228) 385-1177 or azeringue@southgroup.net.
