Travel Insurance 24

Saving money on auto insurance is not difficult, if you are willing to do some research, read your policy and put some extra money in your savings account.

1. Raise your deductible.
By raising your deductible, or the amount of money that you pay in the event of an accident, you will lower your premium. Raising your deductible from $250 to $1000 can lower your premium by several hundred dollars a year. Although you will save money, it is important to build up your savings account so that you have the money to cover your deductible if you are involved in an accident.

2. Maintain a clean driving and credit record.
A driving record that is free of speeding tickets and accidents where you were at fault will lower the perceived risk to insurers.

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There are many details that need attention when someone passes away. Changing auto insurance policy information is probably at the bottom of that list, but eventually it needs to be addressed.

There are three likely scenarios:

1. A surviving spouse keeps the car
2. The car is sold
3. The car is given to a friend or family member

Surviving Spouse

If the surviving spouse decides to keep the car, make sure that the use rating on the policy is correct.

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How you use your vehicle can seriously impact the auto insurance premiums you pay. It turns out that a mile spent commuting is riskier than a mile of pleasure driving, and using your car for business is riskier still.

Pleasure Use

If you have a vehicle that is not driven for commuting or business, your auto insurance company may rate it for “pleasure use only” and charge you a reduced auto insurance premium. The savings can be significant, so be sure to ask for it.

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Auto insurance companies use a complex array of factors to determine your auto insurance rate. It starts with the type of car you are insuring, and factors in where you live, and how much coverage you need.

But other considerations are also used when determining your auto insurance premium. For example, in most states your credit rating can be used to determine how much you pay for auto insurance.

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