How to Save Money on Your Automobile
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(ARA) - There's a saying: "Ask and you shall receive." That's true about a lot of things in life, including saving money on auto insurance.
The premium you're charged can vary dramatically depending on the coverage you request; the kind of car you drive and your driving record. You may not realize it, but there may be discounts that you are eligible for but which you are not taking advantage of. You just need to know which questions to ask.
Here are some recommendations from Farmers Insurance Group to help try and lower your insurance costs.
1. Ask for higher deductibles -- Deductibles represent the amount of money you pay before you make a claim. By requesting higher deductibles on collision and comprehensive coverage, you can lower your costs substantially. For example, Farmers has one of the broadest ranges of deductibles for consumers who want even more choices and savings.
The Farmers Insurance Company has a handy deductible calculator on its Web site: www.farmers.com, you can use to help determine the right deductible for your situation. You answer a few questions on the amount of cash and credit you have and the value of your vehicle, and the calculator can estimate the deductible that may be right for you.
2. Consider buying all your insurance from one company - Keeping your insurance at one company may make you eligible for multiple policy discounts. So if you have your car and home insurance with one company, you will get a discount.
3. Ask about automatic seat belt or air bag discounts -- You may be able to take advantage of discounts on some coverage if you have automatic seat belts and/or air bags.
4. Take advantage of low mileage discounts -- Some companies offer discounts to motorists who drive fewer than a predetermined number of miles a year.
5. Ask if discounts are available for cars with anti-lock brakes -- Anti-lock brakes improve steering control and stability when a car is brought to a stop, thus reducing accidents.
6. Drop collision and/or comprehensive coverages on older cars -- It may not be cost effective to have collision or comprehensive coverage on cars worth less than $1,000 because any claim you make would not substantially exceed annual cost and deductible amounts. Auto dealers and banks can tell you the worth of cars.
7. Buy a "low profile" car -- Before you buy a new or used car, check into insurance costs. Cars that are expensive to repair, or that are a favorite target for thieves, have much higher insurance costs.
Ask the company you are considering buying insurance from if they offer discounts for: no accidents in three years, drivers over 50 years of age, driver training courses and good grades for students.
In addition to inquiring about discounts, you can also take advantage of the Farmers Friendly Review offered by your Farmers agent to review your auto insurance coverages and the rest of your insurance needs to make sure you are getting all the discounts possible. To find an agent near you, log on to www.farmers.com.
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