Ensure You're Getting the Most Savings on Insurance

Phoenix, Jan. 18, 2013. With a new year upon us, now is a good time for home – and vehicle owners to review their insurance policies. AAA Insurance is providing the following tips to make sure you’re spending wisely and getting enough – but not too much – coverage.

“People who are smart about their insurance policies tend to get the best deal,” said Brad Oltmans, vice president of insurance services for AAA Arizona. “It’s important to work with a full-service insurance agency, such as AAA, to investigate all of your options.”

AAA Insurance offers six ways to save on your insurance bill:

1.       Shop around. If it’s been a while since you’ve received an insurance quote, shop around to see which company can offer you the best coverage for the best price. However, keep in mind that while saving money is important, it is even more important to make sure that you have adequate coverage on your home and vehicle from a reputable company.

2.        Don’t be redundant. Don’t duplicate coverage, and don’t buy more protection than you need. However, make sure you’re not ignoring items that need protection like that pricey new entertainment system you received for the holidays, or your grandmother’s jewels you recently inherited. Also, know what benefits your policies provide. If you have a AAA membership, for example, you don’t need towing coverage on your car insurance.

3.       Consolidate. Some companies will take 5 to 15 percent off your premium if you buy two or more policies from them. But make certain the combined price is lower than buying separate policies from different companies.

4.       Dig up discounts. People who are at least 55 years old and retired may qualify for a discount of up to 10 percent when they take the new AAA Safe Driving for Mature Drivers course. Teens can get a discount after completing AAA’s teenSMART program. Also, insurance companies sometimes reward long-time customers with discounts. If you’re an AAA member, you’ll receive a discount on your AAA Insurance.

5.       Conduct annual reviews. Revisit your policy each year and reassess the value of your possessions. Update your policy to include any major purchases or additions to your home. Update your policy to include any major purchases or additions to your home. Conversely, reduce or cancel any additional insurance you may have purchased that is no longer applicable. Changes to where you live, work or even your credit score, can impact insurance rates.

6.       File fewer claims. If you file claims for multiple minor incidents, your rates will rise. Insurance is meant to cover unexpected large losses, not every dent your car gets. Proper maintenance and preventative care will help minimize the number of claims you may need to file. In addition, filing multiple claims also could impact future rates and make you appear to be a higher risk to insurance companies.
 

AAA Arizona offers automotive, travel, insurance, gas and traffic safety products, tools and resources. To receive a free auto, home or life quote and enter to win $1,500, call 1-866-298-1232 or visit AAA.com/insurance.

AAA Arizona, the Arizona affiliate of AAA, provides automotive, insurance and travel services to more than 825,000 Arizona members. Annually, AAA’s Roadside Assistance responds to more than 450,000 calls for help on Arizona roadways. The auto club also provides insurance, travel, auto repair, discounts and financial services to AAA members. Since its founding in 1927, AAA Arizona has been a leading advocate for the safety and security of all travelers.