There are many things that can raise your auto insurance rate — your accident record, your age, even how many miles you live from work. But the list of things that could lower your rate is just as long. Here are some auto insurance discounts you may not have heard of:
July 07 2011
Some families can’t afford to let their teens drive
Here’s a troubling statistic for teens who are eagerly awaiting their 16th birthdays: A recent poll from Nationwide Insurance found that many young people are waiting longer to get their driver’s licenses.
The poll, conducted by Harris Interactive, sampled nearly 1,500 Texas teens and their parents between December 2010 and January 2011. Researchers found that the bumpy road to economic recovery, along with high costs for insurance and other extras, is leading families to cut back. Auto insurance, gas prices and the cost of a car for the teen to drive all put financial pressure on families — meaning many teens are waiting longer to get in the driver’s seat.
Drivers are saving on auto insurance — by skimping on coverage, according to a recent study conducted by Quality Planning, which supplies data for the auto insurance industry. The study, which looked at consumer auto insurance shopping habits between 2006 and 2010, found that consumers are cutting back on coverage and, in some cases, dropping collision and comprehensive coverage entirely on older cars.
The economy is tight, and divers everywhere are on the hunt for auto insurance deals. Crooks are taking advantage of this by selling fake auto insurance policies. Victims pay their premiums — and then, after an accident, their claims aren’t paid.
February 03 2011
Auto insurance for your college student
Crawford Frazer
When your child goes off to college, you’ll likely worry about tuition, housing and other day-to-day expenses. But what about auto insurance? Once your child has moved out, how will your auto insurance policy work?
January 21 2011
Higher grades can mean lower premiums for teen drivers
Adding a teen to your auto insurance policy will lead to a hike in your premium.
That’s because teen drivers pose a double threat to a potential insurer: their immaturity, which increases the potential for reckless behavior, is coupled with a lack of real driving experience, according to the Insurance Institute of Highway Safety. Their crash rate (which peaks at age 16) is four times higher than that of drivers over 20, according to the highway safety institute, and teens account for a disproportionate share of the thousands of fatal crashes each year.
December 21 2010
Can going green save you some green on auto insurance?
If you’re looking for ways to cut your insurance bill, consider going green. More and more insurance companies — including Progressive, GEICO, Travelers, Farmers and GMAC — offer discounts on insurance premiums for those who drive “green” vehicles or participate in pay-as-you-drive programs.
