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‘Fall’ into savings this autumn season

September 19, 2013

Fall Car Insurance Savings TipsFall is here; winter is near. It’s time to start budgeting for the holiday shopping frenzy that is fast approaching. What better way than to ‘Fall’ into savings? We’ve compiled our top savings tips to help put more money in your pocket, where it belongs.

Back to school – Insurance savings?

For parents who have kids that moved on-campus for studies, the cost of your car insurance could be lowered. Some insurance companies offer discounts when an occasional driver moves away from home without access to the insured car for the school year. This is mainly because the insurer has a lower risk because the child will be driving less often. Be sure to contact your insurance professional to see what your company offers.

Combine home & car insurance for more savings

With the number of claims paid out by insurance companies due to the recent weather-related damages, it’s an important time to shop around as home insurance rates may be on this rise this year. Be sure to watch for your renewal and check the premium. Talk to you car insurance professional first, as many companies could offer up to 20% savings if you combine both house and car with the same company.

Shop around for quotes

Everyone can benefit by shopping around for insurance quotes. Insurance companies determine their own rates. What does this mean for you? What you are being charged at one company isn’t always what another company would charge. Some insurance companies offer more competitive rates than others. Additional discounts may be available with another company. And, some insurance companies specialize and offer better rates to people with tickets or accidents.

Find savings within your current policy

Even if you stay where you are, reviewing your policy can save you a lot of money. You should be looking for things that you really don’t need – or things that can be adjusted to save money. Take a look at these items: Deductible – can it be higher? Most people are afraid to raise the deductible, but the truth is that it can save money, and you will only need to worry about that deductible if you are in an at-fault accident. The longer you go accident-free with a high deductible, the more you save. Optional coverages – do you need everything on your policy? Are you paying for rental car coverage even though you never travel? Do you have roadside assistance elsewhere and don’t need t pay for it on your insurance? Dropping unused options you don’t need adds up to big savings.