Money Saving Tips
Improve Your Driving Record or Keep Your Record Clean
Maintaining a good driving record is one of the best ways to keep your car insurance premiums as low as possible. Moving violations, accidents and speeding tickets can all affect the premiums you pay. Fortunately, the blemishes on your driving record will clear up with time, provided you don't continue to accumulate additional violations or accidents. Remember, keep safety in mind at all times, obey all traffic laws and practice defensive driving to prevent accidents.
Raise Your Deductibles
A deductible is the amount you must pay before your insurance policy pays. For example, if you have a $500 deductible on collision coverage, you will pay the first $500 to repair the damage to your car in a covered accident. The lower your deductible, the more risk your insurance company takes and the higher your premium. If you can afford to pay more than $500 in the event of an accident, you may wish to raise your deductible to $1000 or more. Doing so, will increase your risk and lower your premium. Fortunately, you'll only need to pay your deductible in the event of an accident, so raising it, if you can afford it, can be a great way to save money in the long-run.
Take Advantage of Discounts, including Bundling
Frequently, Gebco can offer you a discount if you insure multiple members of your family under the same policy or multiple cars on the same policy. Gebco also offers discounts for bundling – having more than one type of policy with us. Thus, to cite just one simple example, if you put both your auto and homeowners/renters insurance with us, you will get a discount.
Keep Your Policy Up to Date
If you haven't looked at your auto policy since you purchased your new car, you might be missing out on some savings opportunities. For example, it is not always worth the money to maintain collision coverage on older vehicles. Dropping collision coverage could save you a substantial amount on your premium. Other factors that might change your premiums include moving to a different city or township, getting married, having children or driving fewer miles to work. Be sure to review your policy each year to reflect on the changes that have taken place in your life and how they might affect the premiums you pay.