As the cost of auto insurance rises across Texas, Mercury Insurance (NYSE: MCY) is providing guidance to help drivers reduce premiums and save on household expenses.
Several factors have contributed to the increase in insurance rates, including more frequent and severe weather events such as floods and hail, rising vehicle repair costs, inflation, and population growth.
“Mercury Insurance is here to offer advice to our customers at any time,” said Tish Faulkner, Regional Vice President of Sales. “We know households are looking for ways to save, and we want to provide timely tips to help.”
Tips for Lowering Auto Insurance Premiums in Texas:
Shop Around and Compare Quotes: Insurance rates can vary significantly among providers. Taking the time to obtain multiple quotes can lead to substantial savings.
Bundle Your Policies: Many insurers offer discounts for bundling multiple policies, such as home, auto, and umbrella coverage.
Increase Your Deductible: Raising your deductible can lower your premium, but ensure it remains affordable in the event of a claim.
Review Your Coverage Annually: As vehicles age and their value decreases, it may make sense to adjust coverage, including dropping collision or comprehensive protection.
Maintain a Safe Driving Record: Tickets or accidents can drive up premiums. Drivers with clean records typically pay lower rates.
Pay in Full: Settling your premium in full rather than through monthly installments may qualify you for a discount.
Faulkner also emphasized the importance of regular communication with your insurance agent. “Building a relationship with an expert ensures you have the right coverage and can help save money,” she said.
By following these strategies, Texas drivers can better manage their auto insurance costs while maintaining adequate protection for their vehicles.
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