With auto insurance rates climbing as fast as they have, it’s no surprise that auto insurance is expected to be one of the hottest issues on the floors of some state Legislatures across the country.
Here’s a list of Auto insurance tips to lower your cost on auto insurance .
• Carefully consider your requirements for comprehensive and collision insurance. Owners of older cars might be wise to drop these two coverage , because the policies only pay up to current book value of the car.
• Consider increasing deductibles. Substantial savings can be obtained by agreeing to pay the first $500 or $1,000 of each comprehensive or collision loss. Premiums could drop 15 percent to 40 percent for such concessions.
• Check insurance rates for particular car models. Some models are more likely to be stolen, and others are less costly to repair.
• Don’t buy a car for a dependent under age 21. Younger drivers are charged higher rates.
• Check for special coverage. Some companies give discounts to drivers age 50 and older or farmers. 
Additional, here are a number of other tips for reducing rates:
• Shop around and compare prices. Rates can vary widely.
• When purchasing insurance, make certain the coverage for items like bodily injury and property damage liability and personal
• Ask about other discounts. Some insurance companies will reduce premiums anywhere from 5 percent to 30 percent for such things as installing anti-theft devices, having automatic seat belts or airbags, participating in driver education courses, keeping mileage low and car pooling.
A pure no-fault system, offers more compensation dollars to the injured party, rather than expenses for lawyers and the legal process, and it would reduce the amount of time for awarding claims because court action would be avoided.
Awards are also uniform with parties receiving similar amounts for similar injuries. It’s not who’s got the best attorney, or something like that. Freedom of choice may not offer the desired effect, though. The insurance business is based on the concept that large groups form to better cover their risks. More choices could cause more and smaller groups.
Giving a choice can be more expensive than having everybody in the same group. However, consumers are surrendering their right to sue for a minimal savings in insurance.
To encourage someone to give up (the right to sue) for a few dollars on a premium bill is very shortsighted, indeed. The reduction is valid, because the insurance companies see their expenses drop because of the no-fault system. In some cases, the no-fault system has been easier for lawyers, because they know their client’s medical expenses will be paid. The biggest complaint against no-fault is that it will reduce insurance expenses. And it hasn’t happened.
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