1. Compare Policy Rates
Prices differ significantly from company to company. Take the time to explore as many options as you can before deciding on one.
2. Choose the Higher Deductible
If you can afford it, choose the higher deductible and pay less each month for coverage. A deductible is the amount you have to pay before your provider will cover the rest of your bill. A higher deductible can significantly lower your monthly bill.
3. Consider Carpooling
The less you drive, the less insurance companies charge you.
4. Buy Only What You Need
What you need for a new model is different than what you need for an older automobile. If your car is an older design, it might warrant you dropping the collision coverage.
5. Combine Your Homeowners/renters Policy
Combining other policies with your car insurance is an effective way to get the most discounts. Car insurance is considered the riskiest investment, but if you combine it with a safer investment, your monthly bill will go down.
6. Get a Tracking Device
It records your driving history-speed, abrupt stops, travel times, distance-and after the first year, you can get reduced rates if you have been a safe driver. You can save as much as 60 percent!
7. Take Care of Your Credit Score
Those with high credit scores may get lower rates as they are considered as less risky choices for providers. Pay all of your bills on time and check your score to stay updated.
8. Take a Defensive Driving Course
By taking this one-time course, your provider might be able to give you a discount.