A Dallas Morning News article recently reported that auto insurance premiums have increased by 10%. Although this may not seem like much, it is a significant increase if the trend continues. Consider gas prices. You can see how old I was when gas was less than a dollar per gallon. You can see that the current price of a gallon is $2.25. This steady and quiet increase has been evident.
While prices for any type of product will increase over time, it is still a good idea that you try to save as much money as possible. This 10% increase in liability is a significant addition to an auto policy. Liability coverage covers you if you inflict injury on other drivers or passengers who were injured in an accident.
Insurance industry cites rising medical costs and a slow economy for the main causes. Advocates for consumers feel that the rate increases are excessive and not justified. Remember that insurance companies set their rates but they are subject to review by the Texas Department of Insurance (TDI) and must be approved. Some people attribute the increase in insurance rates to the Dallas metropolitan area. According to them, a densely populated area can increase the risk of an auto accident. It doesn’t really matter which side you are on, the truth is that Dallas auto insurance has been increasing. There are still ways to save money on your Texas auto insurance policy.
What can you do about the increased premiums? You cannot change the rate rise, but you can reduce how much you pay.
Here are some easy ways to save money on your insurance premiums.
Be an informed buyer. Learn about the available insurance policies. It’s a good idea to know what you want. Some agents don’t take the time or educate clients enough about their policies. Do not get insurance that is too broad for your needs.
Compare quotes – Even though you’re currently with an insurance company it is a good idea to compare quotes from other agents. You should be able broker a deal that will lower your premium because agents are competing for you business.
Ask about discounts – Many insurance companies offer discounts to those who have multiple cars, are married, or have other policies like homeowner’s or renters insurance. Insurance companies may offer discounts to those who complete defensive driving courses.
You must drive safely. Your driving record will affect the premium you pay. Give yourself enough time to get to your destination. You can drive for yourself, as well as other drivers, bikers, pedestrians, and so on. ).
Make sure you pay your bills on time. Some insurance companies will consider your credit score in calculating your premiums. Higher credit scores will generally result in a lower insurance premium than those who have lower credit scores. Do not panic, you can improve your credit score to help save a few bucks.
These are just a few ways you can save money on your Texas auto policy. You should allow yourself ample time to review your policy before it expires. This will help you make the right decision for your family in these difficult economic times.