Nov 25, 2008

Saving Money on Insurance

Are you looking to make the most out of your money? It seems like everyone is digging deep into their pockets these days. One way to conserve cash that is probably unexpected is using new technology to get a break on your car insurance costs. Jonathan and David Murray, financial experts and co-authors of the book Two for the Money, say you can find a cost-cutting opportunity sitting in your driveway if you have a car recently built by General Motors Corp.

“Unlock the savings from your car,” Jonathan Murray advised. “Chances are very good that you're spending more money than you need to in insurance premiums. So talk to your insurance agent about whether you're receiving the most competitive rate. There are plenty of examples out there and opportunities to save money on insurance premiums.”

While that might seem easier said than done, if you have a GM vehicle equipped with the OnStar on-board communication and information system, you can actually save a considerable amount of coin fairly easily.

“If you're not driving 15,000 miles a year on your car, I know that GMAC and OnStar have a partnership called ‘Low Mileage Discount,’” David Murray said. “They'll give you a significant discount on your insurance, up to 54 percent. So talk to your insurance agent about that.”

In addition to info you can get from your insurance agent, additional information is available from GMAC Insurance and from OnStar. Or you can talk with your GM dealer.