How often do you review your insurance to make sure it meets your needs? You go through so many changes throughout the year, yet you may get your insurance and never reflect on the changes that have happened. You may no longer have the correct coverage needed and are missing out on ways to save. During the time of your policies renewal is the best time to update your agent at PDCM Insurance of any changes, or updates that may affect your policy options.
You should consider the following when it comes to your auto insurance to boost your savings on your insurance premiums:
1. Type of Vehicle
a. Size – Larger cars tend to be less expensive because they normally suffer less damage in an accident compared to smaller cars.
b. Performance – Sports cars, or high-performance vehicles, tend to be more expensive since they are known to be driven more aggressively, which leads them to be involved in more accidents than low-performance vehicles.
2. Value of Vehicle and Age of Vehicle – The more the vehicle costs, and the newer it is, the more expensive it is to insure it.
3. Vehicle Usage – The more you drive your vehicle, the higher your insurance premium will be.
4. Location – Where you live or keep your vehicle has a huge impact on the price of your insurance. More densely populated areas tend to have a more expensive premium. The more traffic there is on the roads that you drive on, the higher risk of getting into an accident.
5. Driver Age – Statistics show that drivers under the age of 25 are four times more likely to be in an accident, which makes insurance rates for them to be higher than someone who is 45. Males under the age of 25 are also more expensive to insure than females under the age of 25.
6. Driver Record – It is more likely for someone who has had previous accidents to have future ones, so the driving record of those with frequent claims causes their premium to be more costly than one without claims.
7. Deductible Choice – The higher your deductible is on your policy, the lower your premium is every month.
8. Credits – There are premium discounts that you can earn based on the vehicles safety features: anti-lock brakes, air bags, anti-theft devices, or having more than one vehicle on a policy.
Our Personal Lines team is more than happy to help you with any questions you may have about the costs of insuring your vehicle. You may call our office at (319)234-8888 or click on your agent’s picture below to send them an email about any questions you might have.