HARTFORD, Conn. (WFSB) – All this month we’re giving you ideas on how to save money and make money in these tough economic times.
We’ve talked to you earlier about saving on your homeowner’s insurance, and now we’re taking our advice on the road, with auto insurance.
Having operated Victor Auto Body Works in Middletown for nearly 70 years means Tyler Rok doesn’t just hear about engines all day.
He’s also heard everything you can imagine from customers about their auto insurance policies.
“Nine out of ten times they leave us, they ask which insurance company they should go to next because there are a lot of caveats in some insurance companies that go undisclosed until you have an accident,” says Rock.
While Rok can’t tell us which company to choose, he, along with other experts, has told us about ways you can save on your monthly premiums, and still get the coverage you need.
Shop around, see reviews:
Tip 1: Shop and pay close attention to reviews.
“I’d like to actually look at Consumer Reports, look at the BBB, and what kind of complaints happen to certain insurance companies before I make a decision,” says Rock.
Compare prices, consider the type of car you are buying:
Loretta Warters of the Insurance Information Institute says you’ll want to compare prices every year, especially before you buy a car.
“There are certain cars that are more expensive to repair, and many of them get stolen a lot more,” Wurters says.
For example, Honda Civic 2000 and 2004 Honda Accord.
According to the National Insurance Crime Bureau, these are the cars most likely to be stolen in Connecticut, which will increase your premiums.
Raise your discount:
One way to lower your premium is to raise your deductible.
“You can probably save about 20% on your insurance if you raise your deductible significantly,” Wurters says.
But be careful, first be sure to check how much coverage the state requires from you, and how you can afford coverage in the event you get into an accident.
Here are the CT rules: https://bit.ly/3zyVLTO
Discounts and driver programs:
The good news is: There are a variety of car insurance discounts.
In some cases, you can be eligible for discounts, anywhere from 10 to 30 percent, by signing up for your insurance company’s driver program.
That’s only if you’re a good driver, says Peter Kushenberger of the UConn Insurance Law Center.
“It literally measures how you drive,” says Kochenburger. “How fast do I brake? Do I do a lot of left versus right turns? Am I faster? They make a game of it. Well, if I brake easier, can I lower my premium even more? It gives you information so you can do something.” What ”
Tyler Rock says his son personally saw big savings.
“He’s gone from about $200 a month because he’s only $19 to $160 a month because of his driving habits,” says Rock.
Drop some coverage:
Depending on the age of your vehicle, you can consider dropping the coverage you don’t need.
Collision and blanket insurance is often where people make changes.
“You want to be careful because the cost of used cars has skyrocketed in the last few years since the pandemic,” Rock says.
If the value of your car is less than the deductible, plus the amount you pay for annual coverage, drop it.
The collision and mass does not pay more than the car is worth.
“The old adage was that if your car turned 10, your dealer was telling you you didn’t need to crash anymore. The average car that is 10 years old today is worth more than $10,000,” says Rock. “There has to be a new set of rules with the agencies saying that at the age of 15 maybe that is the time you want to clear the collision. When it gets to about 3 or 4 thousand.”
What about dropping rent reimbursement coverage?
It is the add-on that provides compensation for a rental car in the event that your car is repaired due to a covered loss or accident.
Our experts won’t do that.
“Mostly, it won’t save you much money at all.”
As a mechanic, Tyler Rock says it’s where customers tend to get their insurance the most, but then find that saving those few dollars a year left them no choice.
“People come in and find out I don’t have any rent,” says Rock.
But when it comes to roadside assistance, “If you already have a Triple A card in your wallet for roadside assistance, I would say don’t get any kind of roadside assistance with your auto insurance policy because you’ll be sitting on the road 5 times what you do. With Triple A.
Remember that you are the one on the road, you have the final say.
“It’s your car, it’s your choice,” says Rock.
If you have more questions, the Autobody of CT Association can help you. It can be found here: https://abaconn.org/
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