How to Keep Your Auto Insurance Rates as Low as Humanly Possible


Daily we get ask by clients if there is any way to reduce their auto insurance rates.  The actual rate is set by the insurance carrier and has a number of factors built into it.  Some of the factors include things you as the consumer are unable to control like living in a city where there are a lot of accidents.  There are some things you can do to make sure your auto rates stay as low as humanly possible:

  1. Pay your bill in full. That may not always be possible but if you are able to pay your auto bill in full the insurance company gives a nice discount for doing so.  The only caveat is you have to pay it BEFORE it is due.  If your bill is not already set to pay in full and you would like to see how much you can save give the office a call to discuss it before the bill is due.
  2. Set your payment up on EFT draft. If it isn’t possible to pay in full have your payment drafted from your checking account each month.  The insurance companies waive the monthly service fee charged for doing it this way.  You will save approximately $25 per year with just this one little change.
  3. Pick the make/model of your car carefully. If you are budget conscience give us a call before you put a brand-new vehicle on the policy and let us give you an estimate on the insurance.  The insurance rate is determined by the VIN of the new vehicle so if possible have the VIN from the car you are considering buying when you call.  The insurance rate has several factors included but some of the factors are how much it would cost if the vehicle was totaled (so cars that are expensive will cost more).  How much it costs to repair that particular model of car is also factored into the rate.  You might be surprised to learn that some manufacturers’ parts are 50% or more higher to repair than other comparable brands.
  4. Choose your deductible wisely. You might be surprised to hear there isn’t always a huge difference in the rate when you increase your deductible.  It depends on the deductible you select of course and the other rating factors already on your policy.  This is an area you can save a few additional dollars.  Consider how much you save per year by increasing the deductible, the number of years it has been since you had an accident when the deductible came into play and how much you can afford to pay out of pocket if you have an accident.
  5. Finally avoid tickets and accidents. Okay, everyone knows if you get a ticket or have an accident you are likely going to pay more for insurance.  The number one thing you and your family members can do is be safe drivers to keep your auto insurance rates as low as humanly possible.  If you have an inexperienced driver on your policy this is even more important. Depending on the insurance company some carriers offer special features on your policy that will waive the additional charge for the first accident.  If you get a speeding ticket give us a call and let us talk you through some possible options and share how the process works in NC so you may be able to avoid an increase in your insurance.

O’Connor Insurance clients are invited to do an annual policy review each year about a month before your auto insurance reviews.  Please let us review your policy with you to make sure everything is accurate and to give you info on anything you might be able to do to keep your auto rates as low as humanly possible.

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