As prices continue to rise, every household is looking for ways to save on their monthly expenses. While you can’t cancel your car insurance in Ann Arbor, MI, there are a few things you can do to lower your monthly premiums. In addition to maintaining good credit and requesting quotes from a variety of insurers, try adjusting the coverage you already have for your car or truck.
Raise Your Deductibles
If you’re willing to pay more for damages upfront, you can lower your premiums almost instantly. Raise your comprehensive and collision deductibles from $250 to $500. This will reduce your premiums by 30%. You can lower your premiums by 40% or more if you raise those deductibles to $1,000. Just remember that this will mean you’ll be responsible for paying the first $1,000 in damages out of your own pocket.
Drop Some of Your Coverage
In almost every state, you are required to maintain liability insurance for bodily injury and property damage. Additional coverage is optional. If your policy has collision and comprehensive coverage, you can save by dropping that coverage. This is another instance where you’ll be taking the chance that you won’t need that type of coverage after an accident.
Bundle Your Coverage
You can also get a discount on your car insurance in Ann Arbor, MI if you bundle it with your homeowner’s insurance. Most insurance companies will offer incentives, such as bundling discounts, to ensure customers stay loyal to them. Additionally, getting all of your insurance needs covered by the same company can make it more convenient to keep up with your monthly payments.
Discover how Kemner Iott Benz can help you save on your auto insurance premiums by visiting us online at kemneriottbenz.com.
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