Ways to reduce your auto insurance premium

There are several ways you may be able to cut your auto insurance costs. Higher deductibles can lower your premium, as will selecting only the coverages you feel you need. Many insurance companies offer different discounts. Here are a few. When shopping for auto insurance, be sure to ask about the availability of these discounts and whether the insurer offers them.

• New business discount: May offer you a discount as a new policyholder if you have been accident-free for a specific period of time.

• Accident-free: Policyholders who have been accident-free while being insured with the same insurance company for several years may be eligible for reduced premiums.

• Discounts for other insurance lines: Premiums may be reduced if you insure your home, life or health with the same company that covers your car.

• Multiple cars: Premiums may be reduced if there are two or more private passenger cars in the household insured by the same company.

• Air bag/passive restraint: Cars that are 1993 or older and are equipped with air bags or automatic seat belts may receive this discount. Certain makes and models of newer vehicles may receive the Vehicle Safety Discount because of the lower medical payments associated with them. The Vehicle Safety Discount is for autos 1994 or newer. Certain makes and models may have a decrease in their premiums because of lower medical payments associated with those specific makes/models.

• Antitheft devices: Some insurance companies offer discounts on comprehensive coverage premiums when certain antitheft devices are installed or built into a vehicle.

• Defensive driving course: Premium discounts sometimes are offered for the voluntary completion of specified driver improvement courses.

• Good student: Full-time students (high school or higher level) maintaining at least a “B” average may qualify for reduced premiums with many companies.

These are just a few of the common discounts offered by insurance companies. For more details, contact your insurance company or agent. Above all, drive safely.

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