1. Before You Buy
a Car, Compare Insurance Costs
Before you buy a new or used car, check into insurance costs.
Car insurance premiums are based in part on the car’s
sticker price, the cost to repair it, its overall safety
record, and the likelihood of theft. Many companies offering
car insurance in San Diego offer discounts for features
that reduce the risk of injuries or theft. These include
daytime running lights and anti-theft devices. To help you
decide what car to buy, you can get information from the
Insurance Institute for Highway Safety (www.iihs.org).
2. Have your broker check other insurance
company discounts
Some companies offering auto insurance in San Diego companies
try to reward good risks. That’s the kind of driver
they want. A lot of companies offer discounts to drivers
who also have other kinds of insurance with them such as
their homes. This is called a multi-policy discount. Other
discounts available might be - multiple vehicles, anti-theft
devices, retirees, drivers education, abstainers from alcohol,
age, and distance to university/colleges for students. To
name a few. Check with your broker to all that are available----
it will save you money!
3. Ask for Higher Deductibles
Deductibles are what you pay before your insurance policy
kicks in. By requesting higher deductibles from your San
Diego auto insurance company, you can lower your costs substantially.
For example, increasing your deductible from $200 to $500
could reduce your collision and comprehensive coverage cost
by 15 to 30 percent. Going to a $1,000 deductible can save
you 40 percent or more. Before choosing a higher deductible,
be sure you have enough money set aside to pay it if you
have a claim.
4. Reduce Coverage on Older Cars
Older cars in San Diego may have too much auto Insurance
coverage. Consider dropping collision and/or comprehensive
coverages on older cars. If your car is worth less than
10 times the premium, purchasing the coverage may not be
cost effective. Auto dealers and banks can tell you the
worth of cars. Or you can look it up online at Kelley’s
Blue Book (http://www.kbb.com). Review your coverage at
renewal time to make sure your insurance needs haven’t
changed.
5. Buy your Homeowners and Auto Coverage
from the Same Insurer
Many insurance companies offering insurance in San Diego
will give you a break if you buy two or more types of insurance.
Auto Insurance, Homeowner Insurance, and Life Insurance
may apply. You may also get a reduction if you have more
than one vehicle insured with the same company. Some insurers
reduce the rates for long-time customers. But it still makes
sense to shop around! You may save money buying from different
insurance companies, compared with a multi-policy discount.
6. Maintain a Good Credit Record
Establishing a solid credit history can cut your insurance
costs. Insurance companies in San Diego are increasingly
using credit information to price auto insurance policies.
To protect your credit standing, pay your bills on time,
don't obtain more credit than you need and keep your credit
balances as low as possible. Check your credit record on
a regular basis and have any errors corrected promptly so
that your record remains accurate.
7. Take Advantage of Low Mileage Discounts
Some companies offer discounts to motorists who drive a
lower than average number of miles a year. Low mileage discounts
can also apply to drivers who car pool to work. Saving valuable
money spend on insurance and gas for your car in San Diego
8. Seek Out Other Discounts
Companies offer discounts to policyholders who have not
had any accidents or moving violations for a number of years.
You may also get a discount if you take a defensive driving
course. If there is a young driver on the policy who is
a good student, has taken a drivers education course or
is at a college out of the area without a car, you may also
qualify for a lower rate.
You can send Brian an email at info@insuremesandiego.com
