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3 “Secrets” To Reducing Your Car Insurance Premium!

By January 3, 2010 May 7th, 2019 No Comments

Well, actually, there’s no big secret at all!  It’s just a fact that there are certain portions of a policy that can dramatically impact the price.

As an insurance agent, I’m often asked about ways to reduce the premium on a policy.  Everyone’s situation is different, so depending on your exact situation, the three tips may not be the best or only way to adjust yours.

However, for many folks, these three areas are key to managing a premium price:

  • In Pennsylvania, you get to choose Full or Limited Tort.  Limited Tort has a significantly lower cost.  However, this is a selection you should make ONLY after a thorough discussion with your agent.  It makes a huge difference should you have the type of claim that is affected by your selection!
  • Deductibles and premium have an inverse relationship.  When one goes up, the other goes down.  Collision normally has a bigger response to your adjustment than comprehensive.  But again, you should discuss your personal situation with an agent before making a change.
  • Pay Plan!  Surprise!  Many companies are offering significant discounts for folks who are able to pay in full.  Perhaps you can’t swing it your first year, but knowing about it will help you plan for subsequent years when you can enjoy this savings!  Our primary carrier, Erie, offers a full 7% discount for paying in full and NO service charge because there are NO installments!

If you have a reputable agent, you should be able to sit down and have an honest conversation about your expectations on premium.  We welcome “once a year” reviews for our current clients.  We also offer a full policy review for anyone who might like to compare their current program to one that we might suggest. 

Reviews are complimentary and often help you save considerably!  Call us at 610-530-0304 if you are a resident of Pennsylvania and within our Lehigh Valley service area!