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10. RESOURCES; AUTOMOBILE DISCOUNTS - BUYING, LEASING, REPAIRING

Become more auto Savvy. A well maintained car should run at least 100,000 miles, more likely 150,000 miles. Good maintenance also increases the resale value. Read or keep as a reference one or more of these books.

Drive It Forever: your key to long automobile life, Robert Sikorsky, Tab Books, $8.95. Detailed and clear, this could save you thousands over the years. This guy knows his stuff.

Keep Your Car running Practically Forever, Mort Schultz, Consumer Reports Books, $11.95. Simple to understand, this covers the most important aspects.

The Auto Repair for Dummies Glove Compartment Guide, Deanna Sclar, Ten Speed Press, $4.95. This small book really will fit neatly into your glove compartment. Read it, then keep a copy in your car for emergencies.

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10.0.1 SAVE $100s-$1000s ON AUTO INSURANCE; AUTOMOBILE DISCOUNTS - BUYING, LEASING, REPAIRING

(Book Review)

I always assumed that the cost of automobile insurance was about the same for the same coverage. Then I read the Consumer Reports Auto Insurance Handbook.

In Maryland, for example, one company charged $7480 for a policy, while another only charged $2145. The coverage was same; the difference in price was three and a half times! Your savings may not be as dramatic but it definitely pays to shop around. Less than half of drivers compare rates, and only a sixth of drivers call more than two companies. You must, it seems, call five or six.

The book lists three different policies by ten different insurance companies in the ten largest states. If you use these charts as a guide, you could start with the lowest priced companies and then call a few others. This is time well spent; you might save $100s this year and every year from now on. For an accurate comparison you must give each company the same policy specifications.

Don't always buy the lowest priced policy. Use the comparison charts and the ratings of auto insurance companies (Appendix A) to find a company that settles claims quickly to the satisfaction of policy holders.

The book also lists discounts you may qualify for, and suggests dropping collision on older vehicles, and canceling insurance if you go on a long vacation. The authors also recommend raising the deductible on collision and comprehensive. With a low deductible you are paying a huge premium for very little coverage. For example a driver in suburban NY could save $300/yr. by raising the deductible from $200 to $1000 for collision.

The book has information on how to file a claim and get satisfaction, an explanation of the mumbo jumbo in policies, and a list of state insurance departments.

Consumer Reports Auto Insurance Handbook, Tobie Stanger & Bill Hartford, Consumer Reports Books.

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