Money saving tips-Save on car insurance

MID-MICHIGAN (WJRT) -- (11/17/08)-- ABC12's Money Source team is hard at work helping you keep a little extra money in your pocket.

It's never been real easy to figure out if your getting the best rate for your vehicle. But as ABC 12's Matt Franklin shows us, there are a few things you can do to make sure your getting the most for your money.

"In our economic climate right now, people are always looking to cut costs, and insurance is no different," said John Bell with Al Bourdeau Insurance in Davison.

Bell says the first thing you need to do is pull your policy, and go over it with your agent.  "The quickest way to do it is to increase your deductibles on your physical damage, comprehensive, collision."

For example, edumunds.com estimates if you go from a $250 to $1,000 deductible, you could save between 25-40 percent off your policy in some cases.

Looking to save even more? You could easily get between 20-25 percent off your insurance by simply using one agent for all your needs.

"If you put your auto, home or renter's insurance together with the same company, you get huge discounts," Bell said.

Be mindful of the next car you get.  Expensive high-performance cars and cars that are frequently stolen often cost the most to insure.

Also, talk to your agent if your driving habits have changed.  "If you're driving to work every day and going to the Detroit area, and you're driving about 60 miles a day, and now your retired -- that's a huge difference. The exposure is a lot less to the insurance," Bell said. "A lot of companies that can make a 5-10 percent difference."

Ask your agent to check up on your insurance score. It works just like the retail score we're all used to, but Bell says the insurance score looks at your driving history; even how many times you've been late on a payment.

"That is used to give discounts. It's tiered. So even if you have bad credit, you can get a discount. If you have a better credit score you get more of a discount," Bell advised.

Look into group discounts. You could save by belonging to a particular organization.

"There's always ways to try and save money. Even though your rates may have gone down, make it go down even further," Bell said.

Cheaper insurance could be just a click away. There are several Web sites that will compare quotes from various insurance agencies.

Experts say the key to finding a good rate is to always shop around.

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