Spencer’s Tips on How to Save Money On Your Car Insurance.

How to save on my car insurance. . .

You are calling around to get quotes on your car insurance with a goal of saving some money. You want to save money but not at the expense of losing valuable coverage.  At Spencer Insurance we understand that price is important but we want to make sure you get the best price and great coverage too!  As Independent Agents representing many top rated insurance programs we can customize your insurance protection and still find you great rates. Here are some tips on how to save responsibly on your car insurance:

  1. Credit – Your credit score impacts you in many ways.  Whether we like it or not credit also can impact your car insurance rates. With many insurance companies your credit score will have a larger impact than your driving record.  There are still a few companies that do not use your credit score to influence your rates, however even if you have bad credit get quotes from companies that do use credit scoring.  Your price is not everything; you want to make sure you have the best coverage for your price.  Teach your teen drivers about the value of good credit. Some day they will be coming off your policy and starting their own policy, help them to develop a good credit score so they will get the best rates.
  2. Advanced Quote Discount – Don’t wait until the last minute to get an insurance quote.  Many companies reward you with a discount if you get a quote at least 8 days prior to your expiration date of your car insurance policy.  If you let your coverage lapse and then get a quote you will pay more, especially if the policy has lapsed for over 30 days.
  3. Increase your Deductible – Your deductible is the amount of money you pay out of your pocket when you have a claim.  Raising your deductible will save you some money.  Raise your deductible to what is reasonable for your financial situation.
  4. Take a Defensive Driving Course – In Pennsylvania, if you are over 55 you will get a 5% discount on your car insurance if you take a defensive driving course.  Call our office today to find out where these courses are available.
  5. Location, Location, Location – Just like with real estate, location is a very important.  If you live in a more congested urban setting your insurance rates will be higher than living in a more rural area. Insurance rates vary greatly from state to state. Check with your agent before you move to see what the impact will be on your car insurance rates.
  6. Multi Car Discount – Are all the cars in our household insured under one policy?  If not, you may be paying more.   For example many spouses/significant others have their cars on different policies. Check with your agent to see if you can put multiple cars under one policy.
  7. Multiple Policy Discount – Do you have a homeowners, renters or condo insurance policy?  Do you have an umbrella policy? If so, do you have these policies with the same company as your car insurance?  If not, you are paying too much.  You can be receiving discounts on both policies if you have them with one company.  Check with your agent to see if you qualify for the multi policy discount.
  8. Educate your Teen Drivers – Taking time with your teen driver to help them become safer drivers will help keep your rates down.  Some companies provide discounts for driver training classes.  Also, if your teen is away at college check with your agent to see if you get a discount. Check out our website at www.spencerinsurance.com for more tips on helping your teen become a safe driver.
  9. Don’t pay for coverage you don’t need – Check over your policy for coverage that is not important to you.  For example if you have an old car that is not worth much does it make sense to carry collision coverage?  If you have extra cars available to you, do you need to have coverage to pay for a rental car if your car is being repaired?  Review your policy to find these unnecessary coverages.
  10. Pick the right car – The type of car you have will be a factor in your insurance rates.  Some cars cost more to repair and some cars cause more damage when they are in an accident.  The safety rating of the car will also impact the rates.  Check the links on our website under the resources section to be directed to the Insurance Institute for Highway Safety.
  11. Any other credits? – Check with your agent to see if any other credits are available to you.  Some examples are a hybrid car discount, car pool discount and a low mileage discount.

As Independent Agents, Spencer Insurance Agency will do the research for you.  We will pick the best coverage from a top rated company at a very competitive price.  Call us today at 215-885-2200 for a no obligation quote or email us at info@spencerinsurance.com. At Spencer Insurance Agency, “Your Protection and Peace of Mind is our Only Business!” 

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