Auto insurance costs are fixed, try these ideas to get them down – Boston Herald


While auto insurance is a must-have for drivers all across the country, the costs associated with them are historically fixed. Yes, everyone has their favorite agent and office employees they like dealing with, calling and receiving letters and gifts showing their appreciation, but sometimes it pays to shop around.

TV and print advertisements claim Carrier A can save you a certain percentage on your car insurance, or Carrier B and their animal themed “spokesperson” is the best in the business and they give a list of reasons and customer satisfaction surveys explaining why. Everyone’s objective is the same: to find the best rate car insurance, while receiving the most coverage that suits your situation.

“It’s important to understand each person’s unique driving situation. Does someone commute each workday? Who is driving their vehicle? Where does the vehicle ‘sleep’? These are just some of the important factors to help us recommend the right coverage to satisfy their objective; protection with the right coverage at the best price,” according to Justin Weiner, account executive for Tobman, Molignano & Weiner Insurance Agency Inc., based in Quincy.

Based on research and corporation averages analyzed overall, car insurance runs on average about $1,600 per vehicle, per year. For a family with three drivers, that could be about $400 per month. Clearly this changes dramatically based on past driving history, vehicle value, age and geographic location. No matter where drivers are located, everyone wants a better price/coverage. While there’s no one-size-fits-all solution to cut auto insurance premiums, drivers can try various strategies to save money on their policies.

  • Raise your policy’s deductibles. Higher deductibles may sound scary to drivers, but raising the deductibles is a great way to lower the cost of auto insurance. The auto insurance provider Progressive notes that deductibles typically range from $100 to $2,000. A driver whose policy has a $100 deductible will pay considerably more on his policy per month than a driver with a higher deductible. In fact, the Insurance Information Institute notes that drivers who increase their deductibles from $200 to $1,000 can save 40% or more on their coverage costs. Drivers who choose this option should always be sure they have enough money in the bank to cover the cost of their deductibles.
  • Bundle your policies. Some drivers save money on their auto insurance policies by buying two or more types of insurance from the same provider. For example, homeowners may save money by buying homeowners insurance from their auto insurance providers or vice versa.
  • Research potential discounts: Many companies offer discounts to policyholders, even if those discounts are not necessarily promoted. Drivers can contact their insurance companies, or shop around with other providers, to ask about various discounts that can save them money on their policies. Anti-theft devices, defensive driving courses, low annual mileage, and a strong credit record are just a handful of the many potential discounts drivers may be eligible for.
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Drivers can reduce the cost of their auto insurance policies in various ways, potentially saving themselves hundreds of dollars each year. Saving money could just be a phone call away.

Herald Wire Services contributed to this report.



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