Simple ways older drivers can save money on auto insurance
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(BPT) -- Are your auto insurance
premiums too high? Maybe they are, but not for reasons you might
think. Insurance companies aren't charging you higher premiums
because you're in an over-50 age group. You may be paying too much
because you haven't done anything to lower the cost of your
premiums. Check out these money-saving tips -- they could be right
up your alley.
You don't need to stay with the same insurance company forever.
Prices vary from company to company. Just be sure you discuss
the identical coverage with each company representative. Also,
don't go by price alone. Consider the company's reputation,
customer service and available discounts. Look online at
customer reviews to get a better picture.
with one carrier. You may save money if you insure all your
vehicles on a single policy. Your premium may also go down if
you have life or homeowner insurance with that company, too.
about higher deductibles. In some cases, if you increase
your deductible, you could lower your premiums. Of course, that
means you'll have to pay more money out-of-pocket if you're in
Take an AARP
Driver Safety course. Available both online and in the
classroom -- in English and Spanish -- this course teaches
valuable defensive driving techniques and provides a refresher
about the rules of the road. When you complete the course, you
could qualify for a multiyear discount from your auto insurance
company (check with your insurance agent for more details).
Visit www.aarp.org/drive to find a course in your area.
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It may not make
financial sense to pay premiums over many years to maintain
collision and comprehensive coverage. If your car is worth less
than 10 times the premium, purchasing the coverage may not be
cost-effective, according to the Insurance Information
Institute. But don't drop your liability coverage, which can
help cover expenses for property or bodily damage you cause
while driving your car.
collision or comprehensive coverage.
Some carriers offer discounts to
drivers who put less than a predetermined number of miles on
their vehicles each year. If you're only using your car to drive
to your kids' houses, the grocery store, the mall and the gym,
this could be a money-saving opportunity.
Take advantage of
Some insurers give discounts for
having certain safety devices in your car, such as air bags,
automatic safety belts, anti-lock brakes, daytime running lights
or even an approved alarm system. In addition to lowering your
premium, these features will help keep you safe on the road.
It's more expensive to insure a vehicle that's expensive to
repair, popular with thieves or known for not having a good
safety record. To find out vehicles' risk levels, visit the
Insurance Institute for Highway
If you're in the
market for a new car, consider purchasing a low-profile vehicle.
Everyone's trying to save money these days. By following these
tips, you'll be in the driver's seat when it comes to auto insurance