Motorists in Pennsylvania are currently enjoying a fall in auto insurance rates and the last year has seen a drop of 7% on state-wide policy purchases. Although road users in the Keystone State still pay more for their auto insurance coverage than drivers in many other states, the current trend of falling premiums has been largely welcomed.
However, the conscientious road user is continually looking to drive down their auto insurance rates even further and by manipulating their deductible figures, the chance to enjoy even greater savings can be obtained. The deductible figure on an auto insurance policy allows motorists to embrace some of the risk that is usually absorbed by the auto insurance provider when a policy is first purchased.
Most online auto insurance quotes are provided with the deductible figure set at approximately $250. If the policyholder is subsequently involved in a road traffic accident, they will be responsible for the first $250 of costs towards repairs of their own (or third party) vehicles. Because the deductible is relatively low, auto insurance quotes are initially more expensive than they need to be.
Thankfully, the deductible figure can be increased when online auto insurance quotes are being reviewed and prospective policyholders can raise their own level of risk to bring down premiums to a minimum. Most policies allow the deductible figured to be increased to up to $1,000 but road users should be aware that these costs will have to be met should an accident actually ensue.