Auto Insurance: You'd Better Shop Around

The Insurance Information Institute offers these suggestions to help you save money on auto insurance:

• Comparison shop - Surf the Internet, ask your friends, or call your state insurance department for names of companies to contact for fair prices and personal service.
• Ask for a higher deductible - A deductible is the amount of money you pay when making a claim. Carrying higher deductibles can reduce premium costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive costs by 15% to 30%.
• Drop collision and/or comprehensive coverage on older cars - If your vehicle is worth less than $1,000, you'll probably pay more for coverage than you'd collect on a claim. Ask a loan officer at Air Force Federal Credit Union to tell you the value of your vehicle.
• Buy a "low-profile" car - Explore insurance costs before you buy a new or used vehicle. Vehicles that are expensive to repair or that have a high theft rate generally have higher insurance costs. Check out the Highway Loss Data Institute's list of injury, collision, and theft losses at www.carsafety.org.
• Take advantage of low-mileage discounts - Some companies offer discounts to motorists who drive fewer than a certain number of miles each year.
• Ask about discounts for automatic seat belts or air bags.
• Ask about anti-lock brakes - Anti-lock brakes improve steering control when you brake, reducing accidents. Some states, including Florida, New Jersey, and New York, require insurers to give discounts for vehicles equipped with these brakes. Some companies provide this discount nationwide.
• Inquire about other discounts - Some companies offer discounts for insuring multiple vehicles, having no accidents in three years, being a driver older than age 50, taking driver training courses, or using anti-theft devices. And find out if your teen driver qualifies for a good-student discount.