2 Tips to Lower Auto Insurance Premiums

Tip Hero serves up fresh money-saving tips daily,
with over 1,700 tips shared by readers to date.

GET FREE UPDATES:

Tips by Category:

COMPARE PRICES
ON TRAVEL

Search Over 40 Websites for Cheap Airfares and More

ECO-FRIENDLY
DEALS & GIVEAWAYS

Get the Latest Offers Sent to Your Inbox Weekly for Free

Insurance & Legal

Home > Insurance & Legal > Topics: Auto Insurance

-----------------------------------------

2 Tips to Lower Auto Insurance Premiums

Submitted by: anonymous 08/27/2009 9:10 AM

1) From my insurance agent: If you can afford it, increase your deductible to $1000 for a savings of over $100/year.

2) From Consumer Reports: If you car is older than 10 years old, it is usually worth it to drop collision coverage because your car's worth is probably less than your deductible.

Related Searches

compare car insurance rates

---
sponsored: Find More Frugal Ideas & Money Saving Tips.

---
Tip Hero serves up new money-saving tips daily.
Get free updates via Email , RSS or Twitter.

More Money-Saving Tips:

13 Ways to Avoid Overpaying on Car Maintenance

Any Tips for Lowering Car Insurance Rates with a Teenager on the Policy?

Driver Safety Courses May Help Lower Your Car Insurance Premiums

Shop Online for Auto Insurance - No Agent Fees

Sponsored Searches:

Find Car Insurance Rates

Discount Auto Insurance

Used Car Sales

Discount Auto Repair

Consumer Reports

Kelly Blue Book Values

Comments:

.................................

To add to that, use a local agent. You'll save tons!

Posted by anonymous on September 10, 2009 3:08 PM

.................................

Check the value of the car on Kelley Blue Book (KBB) (<http://www.kbb.com>) before deciding to drop comprehensive and collision coverage, even if the car is more than ten years old. The trade-in value is probably at or below the wholesale value (less deductible) that you'd be given if the car was totaled.

Comprehensive and collision insurance for one of our cars that's 12 years old (in excellent condition with low miles) costs about $160/year with a $1,000 deductible, but the car has a current KBB trade-in value of $3,000. That value is $2,000 over the deductible, so it only costs 8% of the estimated return if totaled ($2000 / $160) = 8%) for the added coverage.

Posted by G. E. Swain on September 10, 2009 6:43 PM

.................................

so what was the decision? Our Honda Civic has a KBB trade in value of $4150 (while retail is $7500) and our deductible is $1000 and the comp = 149 and collission is $376 = total of $525.

Any recommendations?? Just drop collision and keep comprehensive?? or wait another year?

Posted by anonymous on October 08, 2009 3:00 PM

.................................

-----------------------------------------

Share Your Comments:

Comments may need to be approved before they are displayed.

Comments:

Name (leave blank if you want to be anonymous):

Email Address (your email address will not be displayed):

Website URL (not required; please do not include "http://"):