![\"shutterstock_130513676\"](\"http:\/\/blog.njstateauto.com\/wp-content\/uploads\/2016\/03\/shutterstock_130513676.jpg\")
<\/p>\n<\/p>\n
If you have bought a used car, there is a possibility that you could save a significant amount of money by increasing the deductible in your car insurance. A lot of factors determine the amount of money that you need to dish out for the insurance premium. The factors include your age, driving history, the place you live and marital status. While the other factors are beyond your control, one thing that could do to increase your savings is to change the insurance deductible.<\/p>\n
The deductible part in your insurance claim is the amount of money that you need to pay out of your pocket before filing the insurance claim. Just in case your total claim is $3,000 and your deductible component is $500, the company will pay you only $2,500 after taking out the deductible component. The insurance company considers that the higher the deductible amount, the lesser chance a car owner will file claim for a lower claim amount.<\/p>\n
It has been seen that by increasing the deductible amount to $500 from $250, there is a 7 percent savings in car premium. On an average, you could decrease your premium by 16 percent if you increase the deductible amount to $2,000 from $500. The amount of savings would also depend on your insurer in addition to the state where you might be living.<\/p>\n
If you would want to buy a used car, you could make it a point to visit the New Jersey State Auto Auction store today.<\/p>\n
<\/p>\n
#NJSAA<\/p>\n
#NJStateAuto<\/p>\n
#NJStateAutoAuction<\/p>\n