Annual Rate Check

If you’ve been with an insurer for a long time and not filed claims, you’re unlikely to find better rates elsewhere. But, compare quotes online or build a rapport with an independent agent who can check rates for you with multiple carriers once a year.

Select Top-Rated Insurers

Saving money on insurance is more than paying the lowest premiums. Find an insurer who has the highest satisfaction rates among customers to save money in the long run.

Set The Right Deductible

A higher deductible reduces the premium you pay. Setting it at $500 instead of $200 saves your collision premium by up to 30% while at $1000, you could save 40%. Ensure you can pay the deductible in case you file a claim.

Review Coverage

More liability coverage could protect your life savings in case of a costly claim. If you have a second car, you could save on rental-reimbursement coverage. Cancel roadside assistance if it’s offered with a club membership or manufacturer warranty.

Ask For Discounts

Insurance companies often offer discounts for students with good grades, new drivers who pass a driver-training course, older drivers that pass a refresher course, anyone who passes a defensive-driving course, safer cars, and for certain professionals.

Bundle The Insurance

You could get a hefty discount if you but homeowners or life insurance from the company that sells your auto insurance. But check costs and coverage details before you commit.

Manage Teenager Risk

If your teenager passes a safe-driving course before getting a license or if they don’t drive, or stay over 100 miles away and don’t drive, you could save on your insurance premium.

Maintain Good Credit

Insurance companies believe people with good credit file fewer claims. So, ensure that you maintain a good credit score to save your premiums. Mention any extenuating circumstances like recession, death, divorce, job loss, medical problems, or military deployment.

Reduce Mileage

If you drive significantly fewer than 12,000 miles a year, ask for a discount on your premiums. You could get up to 10% off.

Choose Carefully

Vehicle damage and repair cost is the biggest premium influencer for insurance companies. So, before you buy any new car, always check with your insurer about the premium quotes on the model you like.