Saving Up To 50% ON YOUR INSURANCE part 2

If you have a teenage driver at home, restrict his/her use of the car to less than 25% so he/she is listed as an occasional driver. If they were stated as a principle driver, the insurance cost could almost double!

Also, if you have your own business, having your teenager use a company car will save the most in insurance premiums. Most insurance companies do not increase premiums on company cars for teenage drivers.

The following coverage is generally a waste of money: emergency towing service coverage (especially if it is covered by your auto club), car rental expense coverage, and duplicate medical coverage already covered by a health or insurance plan (usually from your place of employment). You generally pay much more for these services. To eliminate them, just call your broker and explain what you want removed from your policy.

Increase the deductible on your car to the highest level. You can pay ridiculous rates for a $50 deductible compared to $500. This could reduce your insurance from 20%-40%. It just makes sense. Remember the deductible is only paid if the collision is your fault, not the other party's. So what are the chances of you causing an accident? Anyway, you generally don't want to claim anything under $500 because your insurance rates will increase, depending on how many claims you have made.

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