I read an article posted on MSN that stated how to lower your auto insurance premiums without swithching insurers. The article went on to recommend lowering your liability limits to the state minimums, drop uninsured, underinsured motorist coverage, drop the comprehensive and collision coverage on your vehicle.
Trust me when I say, this is not what you want to do. The risk to your personal assets by reducing to state minimums for liability coverage is great. This is especially true if you are a homeowner and could risk losing your home in the event the liability coverage on your auto insurance is insufficient to cover a claim due to an accident. Jurors readily return verdicts in the $100,000's.
If you want to reduce the cost of your auto insurance premiums, shop your insurance each renewal, ask about discounts offered for safety features, driver training is available for both students and mature drivers over 55, which provide a discount, look to combine your home and auto.
Contact an indepedent agent who will work for you and shop the coverage with multiple companies and will provide sound advice. Trident Insurance Agency represents over 25 insurers and can provide insurance in PA, NJ, DE, VA and MD
Patrick O'Leary, CPIA
Tuesday, October 26, 2010
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