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Warner and Co.'s Denise Magness Featured in Prairie Business Magazine

2011-10-06 08:00:00

How to Reduce Auto Insurance Costs Regardless of Your Record

Most assume the best prices on car insurance go to people with the best driving records and no accidents. But what if you— or a family member—has a blemish on your record?

Here are some steps all savvy consumers (and their agents) can take to maximize savings on insurance:

Take advantage of ‘paid in full’ discounts or automatic withdrawal to eliminate billing fees.

Insuring your home and autos with the same company almost always results in savings on both policies of 10 - 20 percent.

Increase deductibles on newer cars and vehicles driven by youthful operators.

Consider removing comprehensive and collision coverage from vehicles that are eight to 10 years old and on vehicles driven by youthful operators.

Have your kids take drivers training like ‘Behind the Wheel.’ This onetime course results in discounts for many years.

Be sure that discounts for optional safety features are on your policy. While standard safety features are automatically supplied by your vehicle’s serial number, optional equipment must be specifically added.

Some companies offer a multi-vehicle discount if you have a company car.

One thing not to do – sacrifice ‘liability limits’ for a few dollars of savings. These coverages protect you from lawsuits and cover your injuries from uninsured or underinsured drivers. You can survive the impact of a large deductible or even replacement of a vehicle. It’s hard to imagine the impact of an uncovered loss of hundreds of thousands of dollars on your personal finances.

Your agent is the best source for helping you find all the discounts your specific company offers as well as their advice on where not to cut – so be sure to ask for their expertise. Consider calling an independent agent. They will get multiple quotes from the companies they work with, saving you time and money. PB