New Auto Insurance Policy Features That Save Money

All auto insurance policies will have features that can be custom fit to individual needs, it is important to know that there are new auto insurance policy options that can benefit you greatly. You can save money on your insurance simply by making changes to your policy and paying attention.  Understanding deductibles, payment limits and coverage options can save you money on your insurance premium.  Most people will find that they are overspending significantly when they first check their policy.

Car Related Features

This includes anything to do with the car that you buy, or purchasing a new car.  The safety and age of any car will play a large role in the cost to insure.  Here are a few tips to keepin mind:

  • Buy a car under 5 years of age.
  • Buy a car with new safety features such as air bags and anti lock breaks.
  • Buy a car with a high crash test rating.
  • Buy a car with a low theft loss statistic.
  • When buying a new car use the same auto insurance policy and ask for an insurance loyalty discount as most places will have a project for that.
  • When buying a new car avoid a car with the salvaged title as it will automatically cost a significant amount more to get insurance to cover it, if In fact it makes any sense at all to insure it.
  • Check the average premium for the make and model of your car, so premiums can be as much as three times a lower premium even amongst stock vehicles.

Policy Related Features

Policy related features can include anything relating to the policy such as deductivles, payments, premiums, etc.

  • Raising the deductible on your comp and collision coverage can reduce the premium to a more reasonable rate.
  • Reduce your payment limits on PI (personal injury) if your car is not in frequent use, and the owner has significant health care coverage.
  • Appeal to move up a class in safety status even if you are already in as a safe driver.
  • Similar to the PI coverage medical payment coverage can also be eliminated if the owner is covered by health care.
  • Most vehicular warranties will cover roadside assistance, making the coverage for road side assistance superfluous.
  • Do not pay for rental insurance, let your credit card take care of that for free

For most people, insurance is something that eases our concerns about unfortunate events.  With a small investment of time and disecting your current policy, you may find that you are paying for many services that overlap one another.  You can end up paying twice for the same service.  Take a small amount to research your policy and ask your agent many questions, it just may save you a large amount of money on a new auto insurance policy.
blog comments powered by Disqus