-Adding cash to the budget is challenging in the face of a rising cost of living. Cutting expenses is one way to save and Rick Torres, State Farm Insurance agent in Solvang has some advice for saving on auto insurance.
Those who own older vehicles might see reducing auto insurance coverage as one way to save. Before picking up the phone and calling the insurance agent, here are some reasons to reconsider that decision:
- Reducing auto insurance coverage can increase overall risk.
- Higher out-of-pocket expenses increase.
- Reducing coverage exposes other assets such as a home, business, investments, or savings.
All drivers in California are required by state law to carry a certain minimum level of auto insurance. While those levels may meet the letter of the law, they may not sufficiently protect any assets, such as a home, a business, investments, or a family in the event of a traffic accident. The amount of money saved by reducing auto insurance costs may not be worth risking the family home or the kid’s college funds.
The first thing to do is meet with your insurance agent to go over the available options. “There are several money-saving discounts available,” says the Solvang auto insurance agent. Those options include:
- A clean driving record offers State Farm customers lower rates when there haven’t been any tickets or accidents for three years. Even new customers may qualify for discounts with a clean record for six or more years.
- Discounts are also available for participating in defensive driver courses and driver training. Mature drivers might also have discounts available.
- Good grades and participating in State Farm’s driver safety program can reduce insurance premiums for teen and college drivers.
- Teen and college student drivers might qualify for discounts for good grades and taking advantage of State Farm’s Driver Safety program for teens.
- The number of miles driven per year influences rates.
- Multi-car discounts are available for vehicles owned by related members of the household.
- Loyalty discounts are available for consecutive years with State Farm.
- Carrying multiple lines of insurance with the same company typically qualify for a multi-line discount, sometimes called “bundling.”
Meeting with the Solvang auto insurance agent is the best way to learn how to save money on insurance policies. Rick Torres helps his clients get the best insurance coverage for their needs. The entire staff helps clients take care of the important things in their lives. The agency provides auto, home, and life insurance, retirement and college planning, and business and health insurance.
RW Torres Insurance Agency, Inc.
540 Alisal Road, Suite 4
Solvang, CA 93463-2637