Insurance rates are affected by a number of things. Your age is a big factor and insurance is much higher for new drivers under the age of 25. This is especially true for male drivers, so your gender is another important element in determining your insurance rates. When my daughter turned 16 and got her driver license, I put her on my auto insurance policy and my rates more than quadrupled. I thought, “Thank goodness she’s not a boy. How much would my insurance rates have gone up if she was a boy?” Then I did the “math,” and it would have been cheaper to send her to Sweden to get a sex change! Although rates will go down after 25, they will go right back up in your 60’s. So, with old age, all I have to look forward to is getting shorter with osteoporosis and having my insurance rates go up. I should just drive off a bridge (unfortunately, they’re doing road construction on local bridges here). Your credit score, whether you are married or single, own or rent your home as well as length of time you were insured with your previous agency all play a big part in determining your insurance rates. So, what measures can you take to help in reducing insurance rates? Here’s a list that may come in handy, but remember, as stated above,longevity is important, but that “loyalty” should go both ways, right?
• Drive carefully
• Observe traffic rules and speed limits to avoid moving violations and accidents
• Work with an independent insurance agent who partner with a wide range of companies to find you the best combination of price and coverage for you
• Take advantage of billing plan discounts
• Take a driver safety course (defensive driving course)
• Inquire about good student discounts, if applicable to you
• Choose a higher deductible
• Enroll in a telematics program like Progressive’s SnapShot or Safeco’s Right Track as your safe driving habits can help you save up to 30% of the premium
• Bundle your insurance plans (home, boat, auto) and save as much as 25%
Insurance rates in my state have increased due to weather claims and it has also been affected by the plethora of claims made due to accidents resulting from texting while driving. Mine went up a whopping 40% due to no fault of my own. Perhaps I should take my own advice and take measures to reduce my insurance rates to a manageable amount. And, while I’m at it, I should kick my 21 year old off of my insurance policy, because yikes-ola!
Until next week…
Daun Thompson
Writer / Comedienne / Artist
Reducing Insurance Rates – Comedy Defensive Driving