The list of reasons why it’s great to be a Buckeye increased with the latest report from Insure.com.
According to the report, Ohio has the cheapest annual premiums for auto insurance in the nation with a current average of $926 per year.
Even though we have the best rates in the nation, it doesn’t hurt to save as much money as we can.
With that idea in mind, we have compiled a list of 6 suggestions to save even more on auto insurance in Ohio.
#1 – Shop Around: The best way to save money on car insurance is to shop around. This does not always mean in terms of price, but also in terms of customer service and financial stability. When you have a list of potential companies, be sure to do the research about their financial situation as the economy plays a pertinent role on rates. If you need help, consider working with an independent insurance agent who can help you assess your options from several companies.
#2 – Increase Your Deductible: A deductible is the amount you pay toward damages before your insurance coverage kicks in. By setting a higher deductible, you can reduce your premiums significantly. For example, increasing your deductible from $200 to $500, could save you between 15%-30% on your collision or comprehensive premium. Just make sure you can afford to pay the deductible if needed.
#3 – Choose a Proper Car: Premiums are greatly influenced by the kind of car you drive. Luxury cars, sports cars and four-wheel drive vehicles generally have higher annual rates. The safety of the car and its vulnerability to theft also weigh heavily on price.
#4 – Reduce Coverage on Older Cars: The best rule of thumb when deciding whether to reduce coverage on an older car is if it is worth less than a tenth of the annual premium. This is because it may cost more to fix the car in the event of an accident than it actually would cost to cover.
#5 – Maintain a Good Credit Score: Research has shown that individuals who have a good handle on their credit, often file less claims. As a result, companies are willing to offer lower premium rates to drivers with good credit scores.
#6 – Ask About Other Discounts: There are a multitude of incentives offered by insurance companies that should be explored. These range from safe driving discounts, low annual mileage discounts and student driver discounts.
In following some of these simple tips, it will be a breeze to save a few bucks on auto insurance in Ohio.