How many times have you seen those TV ads that promise they can deliver big savings on your auto insurance? If they were all true, insurers would be chasing each round and round in circles until they went out of business!
What is true is that you might be able to reduce your insurance premiums by taking on more risk. Or perhaps by shopping around, which is exactly what we do for you.
All insurers have different rate structures, charging more for this and less for that, and some offer discounts for certain arrangements, while others don’t.
Here are a few ways an insured person may be able to cut their payments:
- Having multiple policies from the same insurer
- Installing security devices in your car or your home
- Having a safe driving or claim-free home insurance record
- Agreeing to pay a higher deductible (the amount you pay before the insurance kicks in)
- Changing your insurance policy so certain risks are no longer covered
- Accepting a lower maximum payout
- Being a low-mileage driver (typically less than 8,000 miles per year).
- Driving certain car models (yes, some are at greater risk of being stolen)
- Paying premiums as an annual lump sum rather than monthly
- Shopping around for a better deal!
Because insurers frequently change their rates and their terms, the only way to keep on top of this checklist is to continuously monitor the marketplace, which is what we do for you.
If we spot obvious opportunities or deals that will favor you, we’ll let you know. But that’s no substitute for sitting down with us for a few minutes so we can run through your needs and your options.
Don’t be hooked by those TV ads, which oversimplify insurability. If you want to know whether you can reduce your insurance costs, just pick the phone up and give us a call.
Ferranti-Graybeal Insurance Agency, Inc.