Save between 5 to 40 percent on auto insurance

TULSA - Recently small business owner Traavis Luerssen decided to shop around for insurance options because he hadn't done a check-up in ten years. He says he was amazed at the savings.

Luerssen runs his own remodeling company and every penny counts. By switching to a new company he hit savings pay dirt "I saved almost 60 percent."

Meaning a couple thousand dollars a year.

And you don't have to change companies to get significant savings according to Deputy Oklahoma Insurance Commissioner Denise Engle "They may not change their carrier but the conditions may change."

Engle spent years as an insurance agent and knows the ins and outs such as the fact changes in where you work or live can reduce your bill "You may change how much you drive a vehicle and a reduction in mileage can actually save you considerable dollars on your policy."

Now think about this; when did you last check for needed changes on your auto insurance? Do you know how often you should?
Engle says "Consumers should look at their auto insurance every six months."

And check annually to see what your vehicle is worth. You can do it for free on web sites including www.KBB.com and www.Edmunds.com

Cannen Ferrell keeps on top of his vehicle's values "We try to make sure that the value of our cars, which, depreciate, is something we're not overinsuring those cars."

Ferrell owns Access Medical and deals with insurance companies, daily.

He applies that knowledge to buying auto insurance to cover his family of six "To take care of our finances more efficiently is always something we look at."

He also makes sure he's not doubling any coverage.

Know exactly what your medical insurance covers so you're not paying for it, again, on auto insurance. Ferrell points out another consideration "If you have AAA and that's very affordable make sure you're not paying for roadside assistance with your driver's insurance, your car insurance."

And think carefully about raising your deductible.

It can give you the single most significant savings on your insurance bill.

Your bank account determines how high of a deductible makes sense for you.

Engle says "It always depends on how much you could afford out of pocket if something were to happen to that vehicle."

Then look into safe driver discounts and remember three to five years after a ticket or accident those incidents fall off your record. Talk to your agent to be sure your premium falls lower, too.

Click here for information from the National Association of Insurance Commissioners regarding auto insurance.

The Oklahoma Insurance Commission offers this information regarding things to consider and discuss with your insurance agent:

Here are some ways that you may be able to save money on your auto insurance-while still sufficiently protecting yourself from the worst-case scenario.

Take a look at your deductible: If you can afford to pay a little more out of pocket in the case of a claim, you can turn that into premium savings. Drivers who have a clean record in particular should consider increasing their deductible by a few hundred dollars. The risk is a little higher, but the savings could be significant-as much as 30 to 40 percent on your premium.

Seek out discounts: Auto insurers want to keep reliable, safe drivers as their customers, so they may reward you for being a low-risk driver. Consumers in certain occupations and students with good grades are among those who can qualify for discounts. Check with your insurer to see what kind of deals they might provide.

Re-evaluate your coverage: Do you have an older car, a new auto club membership or an extra vehicle? If so, you may want to take another look at your overall coverage.
If you own your vehicle and you pay more than 10 percent of your vehicle's value each year in insurance premiums, you should consider letting collision insurance lapse. Some insurance policies include roadside assistance, coverage you can drop if you are enrolled in an auto club that provides the same service. And having an extra vehicle you can drive if your primary vehicle is being repaired may mean you can cut coverage for rental reimbursement.

Consider your car choice: What kind of car you drive substantially factors into your auto premium. With the model year ending, more deals will be available on new and used inventory to make way for the next slate of new cars. However, even the cheapest car isn't a good deal unless it has a good safety rating. Looking into a vehicle's track record when it comes to collision, bodily injury and property-damage liability can help you lighten your mental load, without premiums lightening your wallet.

Update your mileage: The more miles you drive, the more your premium will go up-so if you are driving less, be sure to report that to your auto insurer. If you have moved or changed jobs and you have a shorter commute, you could be saving money on more than just gas. Even if you reduced your old 20-minute commute by five minutes each way, you could be