Buy only what you need

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You can save money by buying just the insurance coverage you need. Try raising your deductible for comprehensive and collision coverage. You can cut 15 to 20 percent off your insurance rate by increasing your deductible from $250 to $500 or $1,000.

You may be able to stop paying for comprehensive coverage altogether. If your car is paid off, switch to just liability insurance, and you could save hundreds of dollars a year. As a rule of thumb, comprehensive and collision coverage aren’t worth the cost if the value of your car doesn’t add up to 10 times the annual premium. If that’s the case, all you need is liability coverage.



All the best,



Timben