| 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
In Texas a family’s auto insurance rates
can differ considerably for identical coverage,
depending on the insurance company selected. So
it is important that you choose your insurance
company carefully. Call several insurance
companies or agents and request premium quotes
for coverage that meets your specific needs.
You should also ask your friends and family
to relate their experiences with various
insurance companies. Regardless of rates, you
should not select an insurance company with a
poor reputation for service.
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. Be
aware however that Personal Injury Protection
coverage (PIP) not only pays for medical bills,
but also pays 80% of your lost earnings, up to
the limit of your PIP coverage. PIP coverage is
relatively inexpensive, and can be very useful
to you.
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 — It makes no sense to
insure different cars with different
companies.
- MULTIPLE POLICY — For example, you may
save money if you buy your automobile and
homeowner’s insurance from the same
company.
- DRIVER’S EDUCATION — Both students and
adults qualify for discounts for taking
approved defensive driving or driver
education programs.
- DRUG AND ALCOHOL AWARENESS CLASSES —
Insurance companies offer a discount if you
complete approved drug and alcohol awareness
classes.
- ANTI–THEFT DEVICES — Auto alarm
systems and other such equipment may qualify
you for a discount on comprehensive
coverage.
- PASSIVE RESTRAINTS — Companies give
discounts for air bags or automatic seat
belts.
- ANTI–LOCK BRAKES — Autos with anti–lock
brakes may qualify for a discount from some
companies.
- LOW MILEAGE — Motorists who drive fewer
than an established number of miles each
year may qualify for a discount.
- GOOD DRIVER — Having no recent accidents
or moving violations may save you money.
- GOOD STUDENT — Young drivers with good
grades may qualify for a discount.
- MATURE DRIVER — Drivers over the age of
50 may be entitled to a discount.
BE A
GOOD DRIVER
Moving violations, especially for DWI 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.
Use this table to assist you in comparing
savings for various auto insurance discounts.
Remember to get a total premium quote for your
entire insurance package from each company you
contact.
At the law firm of Kraft & Associates, we
primarily handle personal injury claims,
including automobile collisions, product
liability claims and premises liability claims.
Our firm also represents claimants in Social
Security Disability cases.
We invite you to call us with any legal
problem. If we cannot help you, we will attempt
to refer you to an attorney or an agency that
can help you.
Back to Top |
