The truth be told, everyone is looking to save a few bucks on their car insurance. The problem is that many of the ways to save a few dollars really end up costing you more in the long run, and the average consumer may not be able to tell if they are saving money the right way. Inspired by a recent Yahoo article, we wanted to share a few tricks to help you lower your Maine car insurance rates!
Tip #1 – Shop Companies
You can do all the hard work yourself, or you can employ the services of an independent agent to do the shopping for you. Not only will they be able to compare different companies, but they will be able ensure that you get the best policy and service available!
Tip #2 – Ask For Discounts
There is no shame in asking your agent about getting a discount. Every company offers different kinds of discounts, so it pays to at least ask!
Some possible discounts may include:
- Low-Mileage Discount
- Good Student Discount
- Anti-Lock Brakes, Anti-Theft Device, or Air Bag Discount
- Driver Education Course Discount
- Bundled Insurance Discount
Tip #3 – Consider Raising Your Deductible
This is an easy way to reduce your insurance cost, but it could also be very risky. In the event of a claim, the deductible refers to the amount of money you have to pay before the insurance policy will cover it. If you have a higher deductible, your insurance premium could be substantially lower. Increasing your deductible from $200 to $500 or even to $1000 could save you as much as 40%, says Worters from the Insurance Information Institute. The catch is that you have to make sure you have enough money to cover the deductible in case you have a claim.
Tip #4 – Drop Your Child From Your Insurance Policy
This sounds awfully cruel to be sure, but having your kids on your insurance policy can be very expensive. If your child is living under your roof, and driving your car, then this is something you unfortunately cannot take advantage of. But according to the National Association of Insurance Commissioners, “if your child lives away at school – at least 100 miles – and has less access to the insured vehicle, you may be able to take advantage of insurance discounts.”
W.J. Wheeler Insurance wants to help you save money on your Maine car insurance, but we want to do it without sacrificing service and coverage. Get a free, no obligation quote today by filling out an easy online form, and be entered into our monthly “gift certificate” contest at the same time!