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Automobile insurance rates vary widely
depending on the insurance company or agent
you choose, the types and amounts of coverage
you want, and the kind of car you drive. These
are some things you can do to lower your
insurance costs:
SHOP
AROUND
In Texas a family’s auto insurance rates
can differ considerably for identical
coverage, depending on the insurance company
selected. So it is important that you choose
your insurance company carefully. Call several
insurance companies or agents and request
premium quotes for coverage that meets your
specific needs.
You should also ask your friends and family
to relate their experiences with various
insurance companies. Regardless of rates, you
should not select an insurance company with a
poor reputation for service.
CONSIDER
HIGHER DEDUCTIBLES
A deductible is the amount of money you
will pay on a claim before your insurance
company has any responsibility to pay. By
increasing your deductibles on collision and
comprehensive (fire and theft) coverage to
$200 or even $500 you may substantially reduce
your insurance premiums.
REFUSE
SOME NON–MANDATORY COVERAGES
If you have very good medical insurance,
you may wish to consider eliminating medical
payments coverage on your automobile policy.
Be aware however that Personal Injury
Protection coverage (PIP) not only pays for
medical bills, but also pays 80% of your lost
earnings, up to the limit of your PIP
coverage. PIP coverage is relatively
inexpensive, and can be very useful to you.
If your car has little value, it may not
make sense to carry any collision or
comprehensive insurance.
TAKE
ADVANTAGE OF DISCOUNTS
Ask your insurance agent about the
availability of discounts, including these:
- MULTI–CAR — It makes no sense to
insure different cars with different
companies.
- MULTIPLE POLICY — For example, you may
save money if you buy your automobile and
homeowner’s insurance from the same
company.
- DRIVER’S EDUCATION — Both students
and adults qualify for discounts for
taking approved defensive driving or
driver education programs.
- DRUG AND ALCOHOL AWARENESS CLASSES —
Insurance companies offer a discount if
you complete approved drug and alcohol
awareness classes.
- ANTI–THEFT DEVICES — Auto alarm
systems and other such equipment may
qualify you for a discount on
comprehensive coverage.
- PASSIVE RESTRAINTS — Companies give
discounts for air bags or automatic seat
belts.
- ANTI–LOCK BRAKES — Autos with anti–lock
brakes may qualify for a discount from
some companies.
- LOW MILEAGE — Motorists who drive
fewer than an established number of miles
each year may qualify for a discount.
- GOOD DRIVER — Having no recent
accidents or moving violations may save
you money.
- GOOD STUDENT — Young drivers with good
grades may qualify for a discount.
- MATURE DRIVER — Drivers over the age
of 50 may be entitled to a discount.
BE
A GOOD DRIVER
Moving violations, especially for DWI or
reckless driving, can have a staggering impact
on your rates.
BUY CARS SUBJECT TO LOWER
RATES
Automobiles that are expensive to repair,
subject to a higher risk of theft, or have a
high statistical rate of bodily injury claims
cost more to insure. Check with your insurance
agent about specific models before making a
car purchase.
Use this table to assist you in comparing
savings for various auto insurance discounts.
Remember to get a total premium quote for your
entire insurance package from each company you
contact.
At the law firm of Kraft & Associates,
we primarily handle personal injury claims,
including automobile collisions, product
liability claims and premises liability
claims. Our firm also represents claimants in
Social Security Disability cases.
We invite you to call us with any legal
problem. If we cannot help you, we will
attempt to refer you to an attorney or an
agency that can help you.
Information correct as of January 1, 2000.
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