How to lower our Auto Insurance Costs Patricia Funkhouser asked 1 month ago
How to lower our Auto Insurance Costs

We are senior citizens with two vehicles: a 2016 Chevy Silverado truck and a 2017 Chevy Equinox. We do not use the truck very often. I drive the Equinox to work, which is about 14 miles round trip, four days a week. We also use the car for doctor appointments and errands.

Our annual insurance cost is $1,720 for the policy. How can this cost be lowered while still maintaining good coverage?

We live in Pennsylvania, and when we try to compare with other companies, the prices always seem to come out about the same. We are responsible drivers, and our insurance is through Erie Insurance via an agency.

Any suggestions or help would be appreciated.

1 Answers
Alexis 'Lexi' Ricci Alexis \'Lexi\' Ricci Staff answered 4 weeks ago
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Hi Patricia,

Thank you for reaching out and for providing helpful details about your situation.

Your premium of $1,720 per year for two vehicles is not necessarily unusual, but there may be ways to reduce the cost while still maintaining good protection.

A few things you may want to review with your agent:

  1. Ask for a full discount review

    Insurers sometimes do not automatically apply all available discounts. Ask your agent to check whether you qualify for discounts such as multi-vehicle discount; low-mileage or limited-use classification for the truck; defensive driver or senior driver course discounts; vehicle safety feature discounts

  2. Review deductibles

    If you are comfortable taking on a bit more out-of-pocket risk in the event of a claim, increasing your collision or comprehensive deductible may lower your premium.

  3. Evaluate coverage on the truck that is rarely driven

    Since the truck is used infrequently, ask your agent whether it is rated as a low-mileage or pleasure-use vehicle, which may reduce the premium.

  4. Be cautious about reducing liability protection

    If you are trying to lower costs, it is generally better to look at deductibles or vehicle-specific coverages before reducing liability limits. Liability coverage protects your assets if you are responsible for injuries or damage to others.

  5. Understand Pennsylvania’s tort options carefully

    Pennsylvania drivers choose between Full Tort and Limited Tort. Limited Tort usually lowers premiums but restricts your ability to recover certain damages after an accident. Before making that change, make sure you fully understand the trade-offs.

  6. Ask for a periodic coverage reviewEven if the price quotes you receive from other companies are similar, it can still be helpful to ask your current agent to review your policy and confirm that the coverage reflects how each vehicle is actually used.

UP offers the following informational resources that you may want to consider reviewing about auto premiums, coverages and companies:

https://uphelp.org/buying-tips/insuring-your-home-understanding-the-different-types-of-insurance-companies/

https://insurancecommentary.com/auto-insurance-is-not-a-commodity/

https://uphelp.org/buying-tips/auto-insurance-check-up/

Warmly, Lexi Ricci