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At Velox Insurance, there aren’t too many things we get more excited
about than saving customers money on car insurance. That’s why we put
together some of our top tips for lowering rates and getting more auto insurance discounts. If you’re looking to save money on car insurance here
in Georgia – read this first!
Collision coverage pays for repairs to your car if it collides with another vehicle or
object regardless of who is at fault. The deductible is how much you pay before
the insurance company pays. If you choose a higher deductible it saves on
insurance but don’t do it unless you could actually afford to pay more if you
have an accident!
1) Raise Your Collision Deductible
Almost every auto insurance company we work with at Velox gives a discount if you take a defensive driver class. There are even online defensive driver courses you
can take without leaving the house. Reach out to your insurance agent first to make sure the course you want to take will give
you a discount.
2) Take a Defensive Driver Course
Despite what they want you to think, no insurance company has the cheapest price
for every driver. Each company uses different rating criteria so if your friend
saved the most with The General, it doesn’t mean you will too. The only way
to find the best car insurance price for you is to get as many quotes as possible. At Velox Insurance we make it easy to get
multiple car insurance quotes online or you can contact any of
our agencies throughout Georgia to work directly with a licensed insurance
agent. Be careful of those other websites that claim to offer lots of “comparison quotes”. All they really do is sell your
private information to anyone willing to pay for it.
3) Compare Rates From Many Companies
Many insurance companies will tack on extra charges or remove discounts based on your payment history. If you are late
even one time after 30 years of payments, they might jack up your price so don’t miss
a payment!
4) Pay Your Bill on Time
Since married people have fewer car accidents, most insurance companies
charge single people more. If you got married and didn’t tell your agent you should let them know right away. There
may also be other insurance-related considerations based on this change in
your life they will need to address. Here at Velox Insurance we love anything that
saves clients money, but we don’t recommend getting married just to save on
car insurance – it may be a decision you regret very soon, and for the rest of your
life!
5) Get Married
If you have a collector car and are insuring it under your regular auto insurance policy,
you may be paying much more than you should. Most insurers that specialize in collector cars require very short annual
mileage rates, but will charge a lot less in return.
6) Purchase a Collector Cars Policy
Since they won’t have to mail bills every month and it’s less likely your policy will be cancelled, most insurance companies offer a cheaper price if you’re willing to pay the
entire 6 or 12 month premium at once. Even if you have to use a credit card, the
difference in premium could be substantial and you won’t have to worry about your
policy lapsing.
7) Pay For Your Entire Policy Upfront
During the quoting process, many shoppers are tempted to “fudge”
information about how they use the vehicles and may actually cause the price
to be higher. For example most people believe a vehicle rated for “pleasure”
usage is cheaper than one for “work” use. While this may be true sometimes it is not
always the case. In addition, misrepresentation of information during the insurance purchasing process can
result in the denial of a claim when you really need the coverage.
8) Be Honest About How You Use Your Car
Although the person behind the wheel plays the biggest role in the safety of a
vehicle, insurers do give cheaper prices to vehicles that perform the best in handling and crash testing. In addition to saving a
few bucks, it might just save your life!
9) Buy a Safer Vehicle
Since it involves less paperwork and processing, many insurers give discounts for setting up your policy on automatic
billing. Even if there is no discount, automatic payments can help you avoid a lapse in coverage, which could cost you a LOT of money if it happens at the wrong
time.
10) Setup Automatic Payments
If there is more than one auto insurance policy in your house, you may save money
by combining them. Doing the opposite may also be beneficial. It would be best to
speak with a licensed insurance agent here in Georgia
before making any moves like this.
11) Combine Policies in the Same Household
Some insurance companies offer “early signing” discounts that save you money if
you buy a new policy a week or more before it goes into effect. In addition to
this potential discount, the more time you have to shop around, the more quotes you can get and the greater the opportunity to
find the most affordable one.
12) Shop For Insurance Ahead of Time
Rental coverage pays for a rental vehicle while your vehicle is being repaired for a covered loss. If you could hitch a ride or walk to work for a month or two, or if you have extra vehicles to use or borrow you
may cancel this coverage and save money.
13) Drop Your Rental Car Coverage
Having a car alarm will almost always save you a few bucks on your auto insurance.
Don’t expect a huge discount, but it should reduce your comprehensive coverage.
14) Install an Alarm
People who own homes tend to be more reliable clients for insurance companies so
they often give cheaper prices to homeowners. We wouldn’t
recommend going out and making an offer today, but if you are a homeowner and
your insurance agent doesn’t know that give them a call today!
15) Buy a Home
All Honda Civics are not created equal. Some insurance companies charge different prices depending on the
submodel of your vehicle. This means if you’re considering the added cost of an upgraded model, don’t forget to find out from the insurance company if it will cost
you any more for the leather seats.
16) Buy the Sedan (vs. the coupe)
If you park your vehicle in a garage or carport, make sure your insurance
company knows about it. Many offer a discount off your comprehensive coverage based on the decreased likelihood of theft
or weather damage.
17) Park in a Garage
It’s not a smart idea, but it can save you money. Property damage liability pays other people for damage you cause to property they own. It mostly covers
wrecked cars but can also pay for anything else you hit with your car. Lowering this
coverage will save you a very small amount of money but could leave you in a
very bad situation.
18) Lower Your Property Damage Liability Coverage
Does this really need to be explained?
19) Don’t Get Traffic Tickets
If a friend borrows your car and gets in an accident, your prices will go up. Even if that other person has insurance of their own, your policy is the one that will pay
the claim and go up later.
20) Don’t Let Anyone Borrow Your Car
