Auto Insurance: 8 Secret Savings Your Company May Not Sugges

SOLON, Ohio, June 12 /PRNewswire/ -- There's something your auto insurance company or agent isn't telling you that might save you money. And it could be one of these 8 things:

1. Older car? Drop collision: Have a car that's 7 or 8 years old or

worth less than $2,500? Time to think about taking the risk and dropping

comprehensive and collision from your auto insurance quote. Chances are

your deductible is closing in on the value of your car and a major

collision will send you to the dealership, anyway.

2. Buy home and auto with different companies: With everything being bundled

today - from cell phones to Internet and cable TV - you'd think that

having your home and auto insurance with the same company would save

money. But, do your research and you may discover that having separate

policies will be cheaper.

3. Minimum liability? Not enough: You may think you can only afford the

minimum coverage required by law. But, there's a good chance those

minimums won't come close to covering the costs of a serious

accident - which means you could be paying WAY more than you bargained

for if you're at fault.

4. Shop around for lower rates: A State Farm agent only quotes State

Farm(R). Same for Allstate(R). So what are the chances their agent will

tell you to shop around for the best deal? Even independent agents only

represent a few auto insurers. Shopping online allows you to fine- tune

the deductibles and coverage you want and then compare auto insurance

rates side-by-side.

5. Go green and keep some green: Look for auto insurance quotes from

companies that offer "green" discounts for driving a hybrid,

choosing paperless statements or electronic payment plans. Even signing

your policy with an e-signature will help.

6. Consider paying that claim yourself: If you've backed into the

garage, think twice about asking your company to repair it. Besides the

possibility that your rates will go up at renewal, that small claim might

affect rates next time you shop. An accident can only affect your rates

for three years, but many companies will look back five or seven years

when deciding if they want to offer you a quote.

7. Don't buy that turbo convertible.: All vehicles are not created

equal. Small or large, old or new, the type of car you drive will affect

your auto insurance rate, often based on algorithms auto insurance

companies use to determine how expensive it might be to pay a claim.

8. Teenager turned 16? Don't add them to your policy - yet.: If your

teen is 16 but not a licensed driver, you're not required to add

them to your insurance policy. You're only required to insure them

once they become licensed to drive. But check. Some policies may require

it.

Tips from Insurance.com, the leading online insurance site for comparison quotes you can buy from A-rated companies online or by phone. www.insurance.com

SOURCE Insurance.com

Originally published by Insurance.com.

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