Are you looking for ways to reduce your car insurance costs? Here are 5 quick tips to consider.

1. Know Your Coverage Types. What is your car insurance actually insuring? Although you’re buying a single insurance policy covering a specific vehicle, a number of components make up the final cost: Bodily injury liability, property damage liability, medical payments to others, uninsured motorist protection, collision, and comprehensive coverages all affect your final cost.

2. Your Vehicle Affects Your Premium.   You might want a sports car or a fancy SUV, but your insurance company may charge you more to protect you while driving it. Insurance premiums are based partly on the price of the vehicle, which affects the replacement cost if it is stolen or “totaled” in an accident. How expensive the vehicle is to repair — including parts and labor — can also affect the cost. In addition, surcharges may apply to vehicles that are frequently stolen or involved in accidents.

3. Who You Are Affects Your Premiums. Your age, gender, and driving record are key factors that affect your insurance premium. Single males under the age of 25 pay the highest rates. Statistics show they are involved in the most accidents, so insurance companies charge young men higher premiums than women of the same age. If you are convicted of moving traffic violations or of causing an accident, your premiums will likely go up, no matter what your age. Where you live also plays a big role in your premium.

4. Decide How Much Coverage You Need. While it is dangerous to be underinsured, having too much insurance can be an expensive mistake as well. Without insurance, your property is put at risk in an accident that is your fault. The minimum amount of insurance required in your state is seldom enough.

5. You Can Reduce Your Premiums. Make sure you get all of the discounts available. Perhaps your can has an alarm, or maybe you drive less than 7,500 or 9,000 miles annually. Ask your agent what qualifies for their low mileage discount. You can also increase your deductibles. And make sure you are getting any “good driver” discounts for having no tickets or accidents.

Call AIC Insurance for professional and friendly insurance help. With offices in Moses Lake and Quincy, call us at (509)-764-4447. AIC Insurance, your insurance agents serving the Columbia Basin and the Pacific Northwest.

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Tom Heath

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