Insurance Law | Lower Your Auto Insurance Costs

Lower Your Auto Insurance Costs

	Automobile insurance rates vary widely depending on the insurance company or agent you choose, the types and amounts of coverage you want, and the kind of car you drive. These are some things you can do to lower your insurance costs:
	Shop Around
	Incredibly, the Arizona Department of Insurance has reported data which reveal that a family's auto insurance rates can vary by more than 400 percent for identical coverage, depending on the company selected. The State Insurance Department regularly publishes a pamphlet which reports comparative rate information for fifty or more of the largest insurance companies selling automobile coverage in Arizona. This pamphlet is an invaluable tool in narrowing the field for your own rate search. A copy of the current pamphlet can be obtained by contacting the nearest office of the Arizona Department of Insurance. You should also request and review the companion pamphlet which reports total consumer complaints filed with the Department. Regardless of rates, you should not select an insurance company with a poor reputation for service. After you have narrowed the field, call several insurance companies and request premium quotes for coverages that meet your specific needs.
	Consider Higher Deductibles
	A deductible is the amount of money you will pay on a claim before your insurance company has any responsibility to pay. By increasing your deductibles on collision and comprehensive (fire and theft) coverage to $200 or even $500, you may substantially reduce your insurance premiums.
	Refuse Some Non-Mandatory Coverages
	If you have very good medical insurance, you may wish to consider eliminating medical payments coverage on your automobile policy. If your car has little value, it may not make sense to carry any collision or comprehensive insurance.
	Take Advantage of Discounts
	Ask your insurance agent about the availability of discounts, including these: MULTI-CAR DISCOUNT - it generally makes no sense to insure different cars with different companies. MULTIPLE POLICY DISCOUNT - for example, you may save money if you buy both auto and homeowner's insurance from the same company. DRIVER'S EDUCATION DISCOUNT - both students and adults may qualify for discounts for taking driver training programs. NON-SMOKER'S DISCOUNT. ANTI-THEFT DEVICES - auto alarm systems and other such equipment may qualify you for a discount on comprehensive coverage. PASSIVE RESTRAINTS DISCOUNT - some companies give discounts on medical payments coverage for air bags and seat belts. ANTI-LOCK BRAKES DISCOUNT. LOW MILEAGE DISCOUNT - motorists who drive fewer than an established number of miles each year may qualify for a discount. GOOD DRIVER DISCOUNT - no recent accidents or moving violations may save you money. GOOD STUDENT DISCOUNT - young drivers with good grades may produce premium savings. MATURE DRIVER DISCOUNT - drivers over age 50 may be entitled to a discount.
	Be a Good Driver
	Moving violations, especially for DUI or reckless driving, can have a staggering impact on your rates.
	Buy Cars Subject to Lower Rates
	Automobiles that are expensive to repair, subject to a higher risk of theft, or have a high statistical rate of bodily injury claims cost more to insure. Check with your insurance agent about specific models before making a car purchase.