Most of us are doing all that we can to save money in any way possible. One area that you should look at is auto insurance. There are ways to save money even in this area. Examine the suggestions below and you just might find a way to save on the cost of your car insurance.
Clean Driving. One of the most beneficial things that you can do is to avoid tickets of any kind and not be involved in car accidents. Both of these will cause your insurance premium to rise substantially. It definitely pays to keep your driving record squeaky clean.
Get Rid of Collision. When you own an older model car or one on its last leg, it may not be worth it to have collision coverage on your car. If you need help in making this decision, call your bank or the finance company and ask what you would get right now if you were to sell your car? Next, take this price and subtract your deductible if your car was to be totaled. Now, you subtract the cost of car insurance for the entire year. What you are left with is the actually amount you would have if your car was really totaled.
Change Deductible. If you need insurance you can purchase collision coverage having a deductible of $100 or $250. Sometimes you can even purchase a deductible even higher than these amounts. Remember the higher your deductible the less you will have to pay in premiums.
Make Combinations. For a big savings consider combining your auto insurance with health or accident benefits. In Michigan the law requires that insurance companies offer discounts on their no-fault insurance when you coordinate other health insurance or sickness-accident benefits with your no-fault policy.
Look Around.This may take some time, but it could prove to be worth it if it turns out to be a great savings. The law requires that if your driving record is good that auto insurance agents quote the lowest rate available to you from his/her company. Insurance companies have different rates. This is why is so important to shop around for the best rate you can get.
If you happen to be a high risk driver and the rate you have been quoted reflects this, you do have another option. Contact the Michigan Automobile Insurance Placement Facility. This insurance is required to accept all who apply. There is the possibility that the rate offered to you by this group might be even less than many of those high-risk companies.
If you run into a problem with your car insurance contact your insurance agent or their company. Your other option is to contact the Consumer Services Division at the Office of Financial and Insurance Services.