Ways to Save on Auto Insurance

According to a recent consumer survey, nearly one-third  (31 percent) of Floridians have not reviewed their auto insurance policy with an agent in the past year. Drivers should review their policies at least once a year to ensure they are getting the best rate and proper coverage.

Most drivers in Florida have auto insurance and the majority (62 percent) cite cost as the number one factor when selecting their insurance policy. Auto insurance policies can vary by hundreds, even thousands of dollars, depending on the type of car you drive, the type of coverage you have and from which company you purchase your policy.

"Many drivers, even those who have not had a recent crash or have points on their license, have seen their auto insurance rates rise this year," says Doug Myrick, licensed agent with Insurance Policy Centres. "One reason some may notice raising rates, people are driving more due to cheaper gas. 2015 was a record year for auto travel and 2016 is on pace to outperform last year. More people on the roads equals more vehicle crashes. Review your policy with an independent insurance agent every time you renew your policy, to ensure you are getting the best rate."

With that in mind, Insurance Policy Centres offers these further tips to save money on your auto insurance:

• Pay in full. This option may not be feasible for some, but may offer a substantial savings for a 6- or 12-month policy. Most insurance companies charge installment fees when you choose to pay monthly. Drivers who pay their premiums in full avoid installment fees and the possibly of late fees.
• Maintain good credit. Many insurance companies use a credit-based insurance score to price a policy for a driver. Research shows that higher insurance scores are correlated with lower claims activity. Paying your bills on time and keeping your credit card debt low will help raise your credit standing. Also, check your credit record on a regular basis to insure there are no discrepancies that could negatively affect your credit. have any errors corrected promptly.
• Shop around. The price of a policy can vary from company to company. Research several different companies and compare quotes to get the best deal, but don't use price as the only factor when deciding on the right policy. More than two in five drivers (42 percent) would say poor customer service would cause them to shop for a new insurance company. Ask friends and family for their recommendations. Also, consider a company's reputation and pick an agent who will cater to your needs.
• Bundle. Many insurance companies offer a discount to customers who purchase multiple types of policies, such as home and auto. In some cases you can save money by having multiple cars on the same policy.
• Review your policy. Nearly one in three drivers (31 percent) have not reviewed their auto insurance policy in more than a year. It's a good idea to meet with your insurance agent every time you renew your policy to ensure you are getting the coverage and rate that is best for you. You may even be eligible for discounts you were unaware of. New customers may save money when switching with a future effective date, multi-car, anti-theft device, safe driver, good student and pay-in-full discounts are just a few of the discounts offered.

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