Smart Auto Insurance Blog

The Hartford Financial Services Group has some helpful tips on how to save money on auto insurance found on courant.com in the article “Tips for Saving $$ On Your Auto Insurance” by Korky Vann. 

Many auto insurance companies will offer discounts to long time customers so it’s worth checking with your current provider to see what you may qualify for.  Also, some providers offer group plans from employers.  These are usually available from business, professional or alumni groups.  Discounts may be available through these associations when more than one car is insured on a policy or other products such as home owners insurance is used through the company.

Auto insurance quotes can also be lowered by paying your bills on time.  Your credit score is an important factor in determining auto insurance rates.  You can also raise your deductible for a lower monthly payment if you are looking to save money month to month.  The most common advice is to shop around to see what competitive offers may be out there.

According to the article “New Jersey Association of REALTORS(R) Endorses High Point Auto Insurance” from news.prnewswire.com, High Point Auto Insurance announced a new partnership with NJAR(R) that will save thousands on New Jersey auto insurance quotes for members. 

NJAR(R) has endorsed High Point Auto Insurance as their official auto insurance partner so its members will have access to a discount with one of New Jersey’s most respected auto insurance companies in New Jersey.

Jim Tignanelli, the president of High Point Property and Casualty Insurance Company, says that since they are also focused only on New Jersey residents they can provide meaningful coverage and benefits that include the specific needs of New Jersey auto insurance policy holders.

Members of a variety of associations can save on their New Jersey auto insurance premiums with a local insurer. According to a press release from High Point Auto Insurance, more than 75 groups are eligible for extra discounts, including:

• the New Jersey Society of Certified Public Accountants
• OnStar
• the New Jersey State Chamber of Commerce
• New Jersey Soccer Group
• the New Jersey Dental Association

This membership benefit can be combined with other High Point discounts, which the company claims can result in up to 50% lower auto insurance rates.

A Business Wire press release has announced that Geico plans to lower its rates for Georgia auto insurance! The company’s representative states that on average, the same policies will cost 2.3% less than they did previously. She credits greater efficiency with better Geico insurance quotes at the same time other insurers in Georgia are increasing premiums.

The decreases go into effect on February 8th for existing policies. They apply to newly bought policies immediately.

(Photo credit: sarahee under CC 2.0)

The state of Pennsylvania offers some consolation to people paying expensive student loans, according to Jon Delano from KDKA Pittsburgh, but not for much longer if a state legislator has his way. Pennsylvania auto insurance companies currently offer reduced premiums to those who are better educated. Their justification is that people with more education are better drivers and less likely to make claims for an accident than someone with less education, like a high school dropout. Using that logic, it would make sense to give a rate break to individuals with advanced degrees, much like insurers raise premiums for teenagers because they tend to take more risks when driving, or lower them for married men since getting hitched supposedly calms them down.

However, the chair of the PA House Insurance Committee thinks these policies are discriminatory. Delano says that Representative Tony DeLuca wants to pass a law barring the practice, which I think will be an uphill battle. He points to the exceptions; the Ph.Ds unable to drive for beans and the amazing drivers who never finished the 5th grade. While those outliers do exist, insurance companies make decisions about their policies based on research of the majority’s driving behavior. Not all single males under 25 are reckless drivers, but statistics show that there are enough of them to justify higher premiums for that group.

DeLuca suggests that insurers should focus solely on a person’s individual driving history when figuring out their rates, which is probably best for everyone. It’s a good idea to get multiple auto insurance quotes and compare rates. But in that case, how will new drivers with no history get auto insurance?

(Photo credit: keithreifsnyder under CC 2.0)