How To Reduce The Cost Of Your Auto Insurance Coverage

Robin Wells

If you want to make sure that you are saving as much money as you can on your auto insurance coverage, you will want to review the following helpful suggestions.

Select The Limited Tort Option

When personalizing your auto insurance coverage, you have the option of full or limited tort. Full tort will cost you a little more than limited tort. This is because under the option of full tort you have the right to sue for pain and suffering, as well as your medical expenses, should you become severely injured in an auto accident that was not your fault. Limited tort allows for you to still file suit for your medical expenses, but you waive the right to sue for any pain and suffering. While the limited tort offers less financial protection in the long run should you become a victim in an accident, if you are desperate to save all of the money you can right now, that is the option you will want to select. You can always contact your insurance agent and change it back to full tort when you are able to afford it.

Increase The Amount Of Your Deductible

The higher your deductible, the less you will pay out on your auto insurance premium. This is because the insurance company knows that in the event of an accident, you will be required to pay more for your deductible, which means they will pay a little less on your claim. If you do not opt for this and you continue to hold a policy that gives you the smallest deductible possible, you will find that you will pay a little more each month just to keep the insurance in place.

Opt Out Of The Accidental Life Insurance

Many auto insurance companies offer accidental life insurance coverage that provides funds should the insured pass away from injuries that resulted from an auto accident. You can reduce the amount of your yearly premium by selecting the lowest coverage possible or simply opting out of it altogether. This is ideal if you already have a separate life insurance policy in place through another company.

With the three previously mentioned money saving tips in mind, you should have no problem making sure that you are saving as much money as you can on your auto insurance coverage. You can also ask your insurance agent if there are any additional ways to save money.