The Correct Way To Save Money When Buying Car Insurance

We are bombarded by TV commercials telling us how we can save hundreds of dollars by switching our car insurance policies to GEICO or Progressive or Allstate or State Farm and so on.  You can, in fact, save money by switching to a different car insurance company, but there’s a right way and a wrong way to save that money.

THE WRONG WAY – If your new insurance company wants you to lower your bodily injury protection, or lower or drop other coverages all together (underinsured motorist coveragestacking), don’t do it.  You may pay less, but you could lose tens of thousands of dollars if you’re in a car accident.

THE RIGHT WAY – Sometimes just by changing insurance companies, you can save money.  Even if you switch insurance companies and select the exact same coverage, you could save money because some insurance companies have lower rates at certain times.  You never know unless you shop around.  If you have insurance with the same company for more than three years, you might want to get quotes from three or four other insurance carriers before you renew your policy.

But remember – when you buy automobile insurance in Chester County, don’t sacrifice lower coverage just to save money.

Steve Karp

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