Question from Kortney P. from Noblesville:
I have four vehicles and four people driving in my family. I want to make sure I’m doing everything I can to get the best price. Any tips?
Response from Jamie Ianigro:
The first thing you need to do is make sure you have an independent insurance agent helping you find the right coverage. Independent insurance agents have access to multiple carriers and will be able to find the right coverage at the best price. The key is finding the right balance of coverage and price. Your independent agent will be able to explain what you are sacrificing as you adjust coverages to get a lower price (unlike getting your insurance from the internet).
There are also a couple of things to keep in mind if you have young drivers on your policy. Make sure that your young driver is assigned to the correct vehicle. The difference between a teenager being the primary driver on a Toyota Camry versus being the primary on a new Mercedes is significant. Also, make sure your agent knows if your child is a good student. Many carriers give a discount for young drivers that stay on the honor roll.
You can also double check that your vehicles are listed properly on your insurance policy. Look over your policy to make sure you are receiving a credit if your vehicle has an alarm or security system. Make sure that your yearly driving estimates are still accurate. Changing the amount you drive each year can alter your premium.
You should also make sure that your coverage reflects the value of the vehicle you are insuring. For example, it doesn’t make much sense to have full coverage insurance with a $1000 deductible on a vehicle that is only worth $2,000. A mistake like that adds unnecessary premium to your policy.
The last thing you need to do is make sure you are maximizing your policy discounts. A multi-policy discount is probably the most valuable discount that people miss out on. You can qualify for this even if you don’t own a home. Pairing a renter’s insurance policy OR a homeowners insurance policy with your auto policy will help you qualify for a great discount.