Renewing your auto-insurance policy shouldn’t be something you dread. In fact, you should think of it as an opportunity to re-examine your current rates and make sure that you are getting the best deal for you.
There are a lot of factors that go into how we calculate your auto premiums. Some of these are factors you can control, others…not so much. So, let’s go ahead and review a few that you can control.
Slow down, save money
It happens. Maybe you’re in a hurry, maybe you’re just not paying attention; but did you know that each and every speeding ticket on your record increases your insurance premium? Too many tickets and your coverage may even be revoked.
Drive more, pay more
The more you are on the road, the more likely you are to pay a higher insurance premium. It’s a simple enough concept: As your time driving increases so does the risk for an accident.
Have a drink, lose your coverage
A DUI is a big deal. You drink, you drive -- you pay. Aside from the legal ramifications, a conviction for driving while under the influence can severely impact your insurance rates. Many big-name carriers won’t grant you insurance. Even worse, your current insurance company may not cover the damages stemming from an accident.
3 Tips for Renewing Auto Insurance
1. Up-date your info for up-to-date rates
As described above, we take a lot of factors into account when calculating your insurance rate. That can include:
- Credit history
- Driving record
If you have a teenager driving one of your vehicles, they will be subjected to higher rates, so be sure to list which car on the policy is their primary vehicle.
2. Take advantage of discounts
There are a whole lot of discounts out there: Military, senior, safe driver, “good student”, etc. When reviewing your policy for renewal, be sure that your insurance agent has made sure to credit you with all the appropriate discounts. Remember, it never hurts to ask about other discounts you may be eligible for.
3. Bundle up
Some insurance companies offer discounts for purchasing two or more of their products, so try to consolidate your insurance needs. In some instances your savings can be as much as 25%! At Texan Insurance we are an independent agency, which gives us the freedom to compare quotes from multiple carriers. We want to help you get the best rates at the most affordable prices!
Sources – What really goes into determining your insurance rates? 5 Tips for renewing your car insurance policy
Photo – http://www.flickr.com/photos/bferry/5598229716/