It’s almost a new year!
Tomorrow morning we will wake up with the glorious feeling of the year 2020 being firmly placed in our rearview mirror.
There is really no better feeling than the start of a brand new year. Possibilities abound, a new start, and insurance-wise, the beginning of the new year is a great time to go over your policies and see where you can save some money.
One of the best places to start is on your personal auto insurance.
In Georgia, with steadily climbing auto rates every year, auto insurance is a great starter to save money. The first place you should start is your deductibles.
The deductible is the amount that you would have to pay out of pocket in the event of certain types of claims. Most people opt for low deductibles so that they won’t be responsible for coming up with much cash. This isn’t always the smartest way to go, however. Higher deductibles can save you a lot of money in the long run, even if you do wind up having a claim in which you have to pay that amount.
If you are a good driver, the odds of having an at-fault accident are relatively low. If increasing your deductible saves you hundreds of dollars a year, you won’t have to go many years without an accident before you have already saved more than enough to cover that increase in the deductible.
The second place is making sure you autos are rates correctly.
Auto insurance rates are calculated based on a number of factors, including the number of miles you drive each day. If you are a stay at home parent but your car is being rated as a commuter vehicle, you could be paying too much. If you have changed jobs and now commute only five miles each day rather than 30 miles, or if the pandemic has you working from home, your yearly average will drop, which could have an effect on your rates. Be sure to advise your agent when changes in your driving habits occur! You could be reaping the benefits.
Another place you can look is in the way that you pay your premiums. Some companies offer savings if you pay in full, every three months, or every 6 months. Also, a lot of these companies now are offering 5-10% discounts if you enroll in their safe drivers programs.
While looking at your auto insurance, it is also a good time to check in with your homeowners policy. Most of the time you can bundle your home and auto coverage together, as well as any policies you have on recreational vehicles and save even more money.
There are other discounts you may be missing out on as well!
Be sure to check regularly with your agent or insurance company to find out if all the discounts you qualify for are being applied to your policy. We can help you start saving money this new year by clicking here.
Thank you all for your support this year and we wish you a healthy and happy 2021!