How to Lower your Auto Insurance

• Anti-Theft and Safety Devices
  Installing a vehicle recovery system such as Lo-Jack or Teletracer could save you up to 7-10% per year. There are other relatively inexpensive anti-theft devices such as "The Club", which locks the steering wheel in place, as well as having your Vehicle Identification Number (VIN) etched on each window. Safety features such as air bags, traction control and anti-lock braking systems (ABS) are viewed positively by insurance companies which, in turn, is reflected in your premiums. Although these systems may not reduce injury during an accident, they will reduce your premiums.



• Clean Driving Record And Safety Courses
  While traffic tickets and auto accidents will increase your premiums, most insurance companies offer discounts to drivers with clean records. Also, some insurance companies will offer a discount if you attend a Driver Training School Program, and your employer might even pay the cost if you use a company vehicle for your job. Training school discounts may vary between 7-10%.



• Reduce Coverage On Older Vehicles
  If you have an older car worth between $1,000 - $2,000, you might be better off dropping the collision coverage. Check to see if your collision premium is more than the value of the car.



• Non-Smoker Or Early Retiree Discounts
  Yes, some companies provide discounts for Non-smokers and Early Retirees. Insurers consider smoking a dangerous driving activity.



• Parking in a Garage
  Sometimes the difference between getting insurance and going uninsured is where you keep your vehicle at night. Most thefts do not involve a garaged car and this is reflected in premium discounts. If you have a winter home with no garage, try putting the vehicle in storage. Let your insurance company know that your car is in storage, and you could receive a partial premium reduction.



• Carpool with a Co-Worker
  Most insurers surcharge premiums if the commute to work exceeds 3 miles. Carpooling with a co-worker may result in a discount for low-mileage use.



• Drive a Conservative Car
  Before buying a car you might want to find out how much your insurance will cost annually. Insurance companies consider certain cars easily damaged and expensive to repair, and other cars the target of thieves. You could end up paying a premium surcharge between 10 - 20%. The National Highway Traffic Safety Administration (NHTSA) has established the Auto Safety Hotline at 1-800-424-9393 to report safety defects or to obtain information on cars, trucks, child seats, highway or traffic safety. The Insurance Institute for Highway Safety provides information on death rates by car make and model as well as the standard safety equipment available. The Institute can be reached at 703-247-1500.



• Teenage and College Bound Drivers
  You may want to consider letting your teenager drive the family car instead of buying his/her own vehicle. This will very likely lower your cost to cover them. Students in school and living away from home can reduce their premiums by 30 - 50%, depending on the insurer.



• Professional Organizations and Auto Clubs
  Have you ever been about to pay $100 for a hotel room, only to discover that a AAA discount saves you 15 percent? Now you're paying $85 and feeling proud of yourself. It's similar in the insurance business. Affiliation with AAA and certain other professional organizations will lower your rates. You should check with your employer to see if there are any group insurance rates. At the same time try checking directly with the insurance company representative when you inquire about the cost of policies.