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Driver Holding Car KeyEveryone is looking for ways to cut costs these days. Ideas like turning down your thermostat and carpooling are commonly mentioned, but don't overlook reducing your insurance rates. Here are four tips to save money on your car insurance.
  1. Raise Your Deductible: You can reduce the cost of your insurance by 15 to 30 percent if you increase your deductible from $200 to $500. A newer car will have a higher savings with an increase in deductible than an older car. This means you will pay more out-of-pocket for repairs if you should get into a car accident, of course.
  2. Remove Extras like Towing and Car Rental: If you do a good job maintaining your car and keeping it full of gas, it is unlikely you will need it towed. Since you are paying an annual fee to cover towing, over the life of the car you will have paid for multiple towings. Therefore, if you do have one tow when you are not covered, you really aren't paying more out-of-pocket than you would have over the years if it was part of your insurance. The same concept is true with the rental cars. You are paying year after year for the potential that you will need a rental car if your car is damaged in an accident. Consider removing that option and just paying directly for a rental or catch a ride with someone else if you find your car needing repairs due to an accident.
  3. Check to Make Sure Your Information is Up to Date: Car insurance companies offer numerous discounts and over time your situation may change such that you now are eligible. For example, if you have married you may receive a rate reduction. If you change jobs resulting in a shorter commute, your rate may change. Also, car features such as anti-theft devices or other safety improvements can lower insurance amounts. Make sure the information your insurance company has accurately reflects your current needs.
  4. Don't Opt for Monthly Payments: Insurance companies often charge you more if you want to make monthly payments instead of paying annually or biannually. Although it may seem like a small fee, it adds up. If you pay $5 extra per month, you are paying $60 extra per year. Instead of paying monthly, put the money aside and pay the insurance company less frequently.
With these four savings tips you can save a significant amount on your car insurance premiums. Talk to your agent about saving today!

Save on the coverage you need. Call First Insurance Group at (502) 348-5921 for more information on Lexington auto insurance.
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First Insurance Group
Main Office 2520 South Highway 27 | Somerset, KY 42501 | Phone: (606) 679-3570
Bardstown 107 Lincoln Way | Bardstown, KY 40004 | Phone: (502) 348-5921
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