Consumer Reports experts shared some ideas for saving on your auto insurance premium, while still having the coverage you need.
Dennis osorio says that he enjoys having several cars, “I have four cars. Three personal and one to work”.
But all that power means more expenses, because you have to keep them insured. In his case, Dennis knows that having all his policies with one company has benefits for him.
“I am very happy with the service. I save a lot of money with that company because it has many benefits, ”she says.
Consumer Reports recommends doing what Dennis did, asking insurers if they can give you a better price for having multiple vehicles under one plan.
Other savings tactics?
First: increase your deductible and drop coverage you don’t need.
A deductible of $1,000, for example, instead of $500 may not sound like much, but it could lower your premium by more than 10 percent.
And if your car is getting older, consider dropping collision or other damage coverage, because over time, you could end up paying more than you would to get it repaired or replaced.
If the current value of your car is low, you probably don’t need to pay for additional coverage, just what is required by law.
And consider participating in tracking programs like State Farm’s “Drive safe & Save connected car” and Progressive’s “Snapshot” that use technology to track your driving habits. And they reward you for being a good driver.
“You are trading your privacy for this discount. If you’re willing to reveal some details about where you’re going and how you drive, how often you drive, then you might see some benefit. But if you’re not comfortable with the company having those details of yours, then you could opt out of these programs,” he says.
Elmer Guardado, a spokesman for Consumer Reports.
Even if you don’t want to be tracked, being a good driver still has its benefits. If you haven’t been in an accident, call your insurer and ask for a premium adjustment. If they don’t offer you a fair price, call other companies and compare prices.
Two auto insurers that according to Consumer Reports consistently get the highest ratings are: Amica Mutual Group and USAA Group.
Remember that, in general, the more expensive your vehicle is, the higher your insurance premium will be, since they cost more to repair or replace, so take that into account when shopping for a new vehicle.
