How to Lower Auto Insurance Costs in Pennsylvania

Auto insurance is a legal requirement if you plan to own, register and operate a motor vehicle in Pennsylvania. These policies can establish a broad umbrella of financial protection in the wake of accidents, potentially limiting out-of-pocket losses that might otherwise devastate your fiscal interests. However, while your coverage can save you money in the long run, your premiums may represent a significant expense. That’s why understanding how to minimize your rates is essential.

Five Steps to Enjoy Lower Auto Insurance Premiums

The auto insurance market can be dynamic and unpredictable, as many factors may impact it. For example, natural disasters and supply chain issues, which are largely out of your control, could be detrimental to your rates. Fortunately, there are some things you can control. Consider the following steps: 

1. Bundle multiple types of coverage. Insurance carriers may offer lower costs if you purchase multiple policies from them. Consider bundling your auto coverage with homeowners or renters insurance to lower your total expenses.
2. Maintain a clean driving record. Insurers closely scrutinize your history as a driver. To that end, it’s crucial to avoid accidents, traffic violations and other vehicle-related incidents that might make you appear to be a greater risk to your insurance company.
3. Improve your insurance score. Your insurance score is based on your credit score and can be integral to your premiums. Avoid late payments and building up significant debts to help minimize your rates.
4. Avoid making claims. Although your insurance exists to help you recoup losses, there may be times, such as when dealing with minor damage, when you should pay out of pocket and avoid involving your policy. That’s because having a claim on your record will likely increase your rates upon renewal and continue to impact premiums for years to come.
5. Adjust your coverage. Certain features and details of auto insurance policies, such as endorsements and deductibles, can affect premiums. If you’ve purchased riders that you no longer need or are willing to potentially pay more out of pocket in the event of an incident, you may want to consider making changes.

We’re Here to Help

Contact Jack L. Bonus Insurance Agency today to work with our knowledgeable team and ensure you have suitable coverage at an ideal rate.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.