Money saving tips for buying car insurance - WGEM.com: Quincy News, Weather, Sports, and Radio

Money saving tips for buying car insurance

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QUINCY, Ill. (WGEM) - Many insurance companies are offering a variety of  new discounts, but how do you know which ones you qualified for?

Talk with a local insurance agent, says J.T. Dozier, President of Dozier Insurance Agency, Inc. He says ordering insurance online can land you with more coverage than you need.  Dozier also recommends talking with the agent about any discounts you can qualify for, but don't sacrifice quality to save a dollar.

"You want to make sure you have good value," Dozier said. "Being the cheapest is far from being the best. You could acquire basic state minimum liability coverage. That may have a lower cheaper premium, but when you really need the coverage, it may not be enough."

Other advice includes:

-Don't buy flashier cars. The flashier and faster a car is, the higher the premium.

-Avoid small claims. If you get in a small fender bender, you may not want to file a claim. This could increase your premium instead of denting your deductible.

-Be financially responsible. Pay your bills on time. Insurance companies monitor this and will give discounts if bills are paid timely.

-Bundle insurance policies if it is available. Many times companies will give discounts if you have more than just one insurance policy with them.

Some people can get discounts based on the job they have or the company they work for. Lee Hamilton says he pays a lower premium for a couple of reasons.

"I've had the same agent and the same insurance company for 30 years," Hamilton said. "I'm very happy with them. The claim service has been very good. We have everything with them: our home, auto and health."

Dozier recommends to inform your local agent if you have a driving record as well as if you dont. He says this allows the agent to look at all options available. He says to also keep them updated as things change.

If still aren't saving enough, Dozier says to consider increasing your deductible. He says it may not look great on paper, however, the extra money you save on the premium may end up offsetting the increase in deductible if an accident occurs.

Also many insurance companies offer using electronic monitoring devices. You plug these into your car's diagnosis port and it will monitor your driving experience. If you feel you are a safe driver, it can save up to 30 percent on insurance.
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