Auto Insurance Tips- 5 Car Insurance Tips to Save You Money

Auto Insurance Tips- 5 Car Insurance Tips to Save You Money

Here are some great tips that could save you money on auto insurance.

1. Raise Your Deductible

One way to save money on car insurance is to raise your deductible. A higher deductible will result in a lower premium. Just remember that you will need to pay the deductible in the event of the accident. So don't raise it so high, that you can't afford to pay it if you were ever to get in an accident.

2. Take a Driver's Safety Course

Did you know that taking a course in Driver's Safety could save you money on your policy? Many companies offer discounts to customers who complete an approved driving course. See if your insurance company could offer you a discount for this.

3. Choose your Car Wisely

You may not be in the market for a new car right now, but when you are thinking of a purchasing a new vehicle, choose wisely. Don't just look at the sticker price on the vehicle when shopping. Certain cars are more costly to insure than others, so you could end up paying a lot more in car insurance than you expected if you buy that nice sports car instead of the four door sedan. Cars that are more likely to be stolen or that have parts that cost more to replace will be more expensive to insure. Keep that in mind when you decide to purchase a new car.

4. Drive Less

You may be wondering how driving less will save you money on car insurance. Well, many companies offer discounts to people who meet certain low mileage requirements. Start carpooling to work or school. Not only could it save you money on car insurance, but it will also save you money on gas!

5. Compare Quotes from Multiple Companies

You may already have an auto insurance policy in place or you may be looking for one right now. Whatever your situation, it is always important to stay on top of car insurance rates that different companies are offering. If you already have a policy, compare quotes every six months or so to make sure you are getting the best rates out their for your situation. If you are looking for a policy, be sure to shop around before deciding on a company.

Sports and muscle cars are a better investment than the stock market

Hagerty's is a really cool car insurance company, this was part of their newsletter. Click on it to make it full size and easier to see what the various colored lines represent, and what cars comprise the group that the blue line that is out outperforming the stock market

"Why car thieves love a '94 Honda Accord" from Insure.com, a good look at the stolen car issue

The most stolen vehicles:

1. 1994 Honda Accord
2. 1995 Honda Civic
3. 1991 Toyota Camry
4. 1997 Ford F-150 Pickup
5. 2004 Dodge Ram Pickup
6. 2000 Dodge Caravan
7. 1994 Chevrolet pickup (full size)
8. 1994 Acura Integra
9. 2002 Ford Explorer
10. 2009 Toyota Corolla
Source: NICB, based on car thefts in 2009

Older cars tend to be popular targets. In addition to supplying in-demand parts, these older cars are:

•Easier to steal. Car manufacturers in recent years have added many theft deterrents that older models don't have.
•Not as likely to have after-market security devices, such as warning, tracking and disabling devices.

Metropolitan areas with the highest vehicle theft rates

1. Laredo, Texas
2. Modesto, Calif.
3. Bakersfield, Calif.
4. Stockton, Calif.
5. Fresno, Calif.
6. Yakima, Wash.
7. San Francisco/Oakland/Fremont, Calif.
8. Visalia/Porterville, Calif.
9. Las Vegas/Paradise, Nev.
10. Albuquerque, NM

Source: NICB, based on car thefts in 2009

Read the whole article to be better informed about car theft:
http://www.insure.com/car-insurance/most-stolen-cars-2010.html

Car insurance from a different viewpoint

"Car insurance companies will offer somewhat lower rates to their customers simply by driving a car that will cost less to fix if it gets in an accident." http://www.cheapcarinsurance.net/car-insurance-rates-and-damage-susceptibility/

Makes sense! I never thought of it that way, since so much of my insurance is based on age, and location... I wonder how much of my 65 a month is based on what the car stats are for repairs?

"In setting insurance premiums, insurance companies mainly rely on factors that are not directly related to the vehicle itself (except for its value). They mainly consider driver characteristics (such as age, gender, marital status, and driving record), the geographic area in which the vehicle is driven, how many miles are traveled, and how the vehicle is used."
http://www.cheapcarinsurance.net/car-insurance-rates-and-damage-susceptibility-alt/

Ok, those two excerpts seem to conflict a little...

"However, some companies adjust their premiums for personal injury protection and medical payment coverage if the insured vehicle has features that are likely to improve its crashworthiness, or ability to protect occupants from injury or death, such as air bags. " http://www.cheapcarinsurance.net/car-insurance-rates-and-damage-susceptibility-alt/

Ah HA! I was right

For the stats on vehicles, so you can base a car purchase on what your insurance company is likely to charge relative to other purchases...
The luxury "large", and "very large" have the highest "Relative Average Loss Payment Per Insured Vehicle Year" usually twice to three times the ordinary cars

Lotus Elize : 435
Maserati Quattroporte 4dr : 429
BMW M5 4dr : 317
Nissan 350Z : 217

Dodge Caravan : 68
Saturn Outlook 4dr : 33
Jeep Wrangler 4dr : 33
GMC Acadia 4dr 4WD : 30

So boring cars are less paid out than exciting cars... logically.
Thanks to Scott at http://www.cheapcarinsurance.net/

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Car insurance comparison

For insuring my daily driver I am calling the top 10 biggest insurance companies around, and with the identical policy info given to them, here's the dirt on how bad they will rip you off compared to the other company. Rip off? Yeah, if you are forced to pay for it but never use it, need it, or file a claim, it's a rip off.

If you use it, when you need it, that's a different situation of trauma, drama, and need for assistance.. that would be a damn good time to have customer service. I haven't had any customer service from car insurance companies, just from the insurance agent that I was fortunate enough to find when comparing companies years ago. My agent has been at the same company, as an agent for over 30 years, and I really dig his whole role and occsional check in with me to keep in touch.

Anyway here's the rip offs: (6 month policy quotes) in US Dollars
Allstate: $438
AAA: $448
Farmers: $477
Geico : $525
State Farm: $608
Progressive: $619
Mercury: $634
20th Century / AIG : $696

Sad huh?! I'm going to get more quotes, and update this post with them, during the regular work week I suppose, since Saturday wasn't good for gettting ahold of local agents when their company didn't have a 1 800 #

Also, if you are a member of the following 6 occupational organizations, associations, or university degree holding professions, you are going to get a discount too, from some insurance companies:
California Medical Assoc.
California Association of CPAs
LA county Bar Association
Degrees in Education, Engineers, and Scientists

So, if you were lucky to get college degrees for those wealth making professions, you are going to keep more of your dough 'cause the insurance companies have found that those types of people aren't as likely to have their expensive cars stolen, damaged in parking lots, or hit in traffic jams. Must be really special to have the car gods shine on you like that.

Also, the insurance companies will jack you for a more money if you don't have car insurance... they aren't picky either, they don't care if you stopped due to a reason, or who you used to have, they are equal opportunity opportunists, and just that you don't currently have insurance on a car is all
the reason they need to charge more without doing anything more for you.. further giving me cause to label them all rip offs.

Hagerty Car Insurance commercials, I just watched these on ESPN2, Sunday during the RM Auction, they're great!

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GM tries out a new idea on insurance - via Onstar and your mileage

First problem, it only works for GM drivers who have the Onstar system. Well, since I just read this... I guess that's not much of a problem if you have a new GM, of course it still won't apply to the millions of us who don't have a "new" GM.

"GM wants people to start buying its cars specifically because they come with the service. By the end of this year, 95-percent of GM cars sold in the US and Canada will have OnStar standard. The first year of service is free, and the hope is that by the end of 12 months the customer will find it indispensable. In case that isn't enough, in addition to the word-of-mouth advertising by 80 million people who have already been assisted by OnStar, GM is providing dealers with more training and increase its marketing of the service, noted primarily by moving Tiger Woods from the Buick campaign to OnStar." http://www.autoblog.com/2007/07/15/onstar-proliferation-at-gm/

Second problem, this is just a plan to hold GM customers, without giving them a fair deal on their insurance. Fair would be charging per mile, regardless of all other factors. Insurance only takes care of you when you are driving your vehicle, so why charge a flat rate that has no connection to how or if you drive at all? Most musclecars are just weekenders and car shows, but we're going to pay flat annual insurance premiums regardless.


With the subscriber's permission, the odometer reading from his or her monthly OnStar Vehicle Diagnostics email is forwarded to GMAC Insurance. Based on those readings, the company will decrease their premiums using discount tiers corresponding to miles driven.

The plan is to allow subscribers to GM's OnStar system to submit their mileage, and if its less than the 15,000 miles specified in the year-long contract, a discount will be dolled out.

The breakdown will allow drivers who travel between 12,001 and 15,000 miles a year to get a 13-percent reduction, while drivers who clock under 2,500 miles will get a discount of 54-percent.

In fact, all OnStar customers receive a discount for simply having an active OnStar subscription.

Really? I haven't been asked by my insurance agent if I have Onstar... have you?

http://www.autoblog.com/2007/07/17/gmac-offers-mileage-based-insurance-through-onstar/

I like the idea of gouging customers less, but when the idea of pay at the pump for insurance is explained to you, nothing else will ever seem fair.