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Auto Insurance
 

How to 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
Car Insurance Arizona

Incredibly, the Arizona Department of Insurance has reported data which reveal that a family's auto insurance rates can vary by more than 600 percent for identical coverage, depending on the company selected. The State Insurance Department regularly publishes data which report comparative rate information for fifty or more of the largest insurance companies selling automobile coverage in Arizona. This information is an invaluable tool in narrowing the field for your own rate search.

You also should review the data which report total consumer complaints filed with the Department. Regardless of the rates, you should not select an insurance company with a poor reputation for service.

You will find all this valuable information on the web site of the Arizona Department of Insurance. It is located under the heading "Premium Comparison and Complaint Ratios for Automobile Insurance."

After you have narrowed the field, call several insurance companies and request premium quotes for coverages that meet your specific needs. Remember to get a total premium quote for your entire insurance package from each company you contact.

 
Consider Higher Deductibles
 

A deductible is the amount of money you will pay on a damage 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 you 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 airbags and seat belts because they lessen the severity of injuries from accidents.
  • 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, as can causing a motor vehicle accident, either with or without injuries.

 
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 from accidents cost more to insure. Check with your insurance agent about specific models before making a car purchase.
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