As car insurance rates continue to rise, many drivers in Hamlin are starting to feel the strain on their wallets. According to the financial experts at TheStreet.com, the average cost of auto insurance rose a whopping 35% from 2012 to 2013–a sharp increase from the 10% yearly cost inflation that’s been the norm since 2008. Luckily, there are ways to help bring the cost of Auto Insurance in Hamlin, PA down to a more reasonable level. Below are some easy ways to reduce the cost of your yearly premium.
Shop Around
From year to year, auto insurance quotes can vary widely from company to company, so it pays to shop around periodically. A little bit of time spent making phone calls or entering information online can result in hundreds of dollars in savings over the course of the year. Often, you can negotiate more attractive rates by doing business with a smaller, local insurance company. For example, the Olsommer-Clarke Insurance Group, Inc. has a stellar reputation and offices conveniently located in Hamlin.
Raise Your Deductible
If you’re a safe driver, one sure-fire way to get lower insurance rates in by raising your deductible. In fact, you can save as much as 25% off the cost of your premium by raising your deductible by $500, according to the Insurance Information Institute. Over the course of a year, this could equal $250 or more in savings.
Bundle Your Policies
Another simple way to get cheaper Auto Insurance in Hamlin, PA is to bundle your insurance policies. Purchasing your automobile, homeowners and life insurance policies from one company is an easy way to save anywhere from 10 to 20% on your overall insurance costs. However, before you make the switch, talk to your agent to make sure this type of discount is available from your insurer.
Ask About Discounts
Although insurance discounts are becoming more and more common, they aren’t always advertised. A short talk with your insurance agent could result in a pleasant surprise. For example, insurance discounts for seniors, college students and safe drivers are very common. Many agencies even offer discounts for new parents, military veterans and those who work from home.
Auto insurance has become a significant expense in the past few years, but you can still save big if you’re smart. Keep the tips above in mind and talk to your insurance agent for even more ways to save.
