Keeping the cost of your Minnesota car insurance as low as possible may be easier than you think. Some factors that influence high rates may have nothing to do with you or your driving record, like when your insurance carrier raises rates because they have an increase in overall claims or in high judgment claims. If that’s the case with your carrier, it may be time to look for another auto insurance company. But other factors may allow you to stay with a carrier that you like and enjoy lower premiums, like choosing higher deductibles or taking driver’s education classes.
Lower Car Insurance Rates for Teens
If you have a teen-aged driver in the family, there may be a few ways to lower the premium. Many insurance companies offer discounts for students with a high grade point average or who make the honor role. So encouraging your teen to do well in school can take a load off the family budget. And if your teen has to pay for his own insurance, there’s an even greater incentive to study hard.
Inform Your Auto Insurance Carrier About Job Changes
If you have changed jobs and now drive less because you work closer to home that may lower your rates. Did you make a switch from commuting to working from a home office, even on a part time basis? Or have you changed positions to one where you spend more time in the office and less time making sales calls or driving around in the field? If you drive fewer miles for work now than when you took out your policy, you may be able to save some money just by updating your data.
Older Cars May Need Less Insurance
When you drove your new car off the lot and it was still bright, shiny and complete with car payments, it made perfect sense to carry collision insurance that covered the replacement cost of the car. But now that the loan is paid off, and it’s a few years older, consider whether you really need to carry the same kinds of coverage. If you feel like your savings accounts could absorb the cost of paying for some car repairs, your car may be a good candidate for reduced coverage.
Ask Your Insurance Professional
Talk with your Faribo Insurance agent to see if any of these ideas could save you money, or ask for even more cost saving tips. Just give us a call at 888-923-0430, email us or use our Quick Quote Insurance Insurance form and we’ll be glad to answer your questions.