Many consumers are looking into temporarily lowering their homeowners or automobile insurance costs by eliminating some services, such as high deductibles they feel they can do without. Every dollar they save adds to being able to pay a mortgage down more quickly or do more with their family.
Here is some information that may assist you with saving:
- Increase your comprehensive and collision deductibles from $250 to $500 and see what you save. If not enough, ask the agent how much a $1,000 deductible would save. Since you are a careful driver and if the accident is the other party’s fault, your insurance company will most likely get your deductible back anyway.
- If you just got married, let your car insurance company know this as your rates are lower when married.
- Take a defensive driving course and also have security alarms on your vehicle.
- If you pay your car off, you may consider switching to liability insurance instead of having full coverage.
- If your teenager attends college in another state and leaves the car behind, your insurance rates may be lower.
- If you move from the city to a rural area, this may also lower your automobile insurance rate.
- If you change jobs and work from an office inside your home, you have eliminated much traveling, so your risk of accident is much less.
- Many auto insurance companies give you a percentage off when you also insure your home with them.
Talk to your agent and go over both your homeowners and your auto insurance so that he can save you money.