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How Can You Lower Your Premium?
While some of the factors used by insurers to determine risk are out of your control (i.e., gender, age), you do have control over a variety of factors that influence the cost of your insurance.
Before you purchase auto insurance, check out:
Your Collision and Comprehensive Deductibles — In many cases, consumers can save premium dollars by choosing higher deductibles or eliminating coverage for older cars that are paid in full. Remember, a higher deductible means you will pay more out of pocket in the event of an accident. You will need to decide how much you can afford to pay if an accident occurs.
Your Auto-Related Health Insurer Option — Consumers can save premium dollars by choosing their health care insurers as primary in the case of auto accident-related injuries. It is important to check with your health care insurer before choosing the Health Care Primary option.
Your Personal Injury Protection (PIP) Deductible and Limits — Standard policies usually carry a deductible of $250 and a PIP limit of $250,000. Consumers can save premium dollars by choosing a higher deductible of $500, $1,000, $2,000 or $2,500 and/or choosing one of the lower PIP limits of $15,000, $50,000, $75,000 or $150,000.
Your Lawsuit Option — Consumers can save premium dollars by choosing the Limited Right to Sue (Limitation on Lawsuit Option), which limits suits for pain and suffering except in cases of death or permanent injury.
Are You Eligible for Discounts? — It is always a good idea to ask your insurer if any discounts may be available to you. The following are some of the discounts insurers may offer and to which you may be entitled: