1. Low mileage discounts really help. You can opt for one if you use a lot of public transportation, work at home or simply drive less than 10,000 miles annually. Carpools also give you the possibility to discuss low mileage discounts with your insurance carrier.
2. Raise the deductibles to be paid. Increasing your deductible two times will result in an average 10% decrease in your annual rates, depending on your insurance carrier. Also, if you have an old vehicle, you might want to go without comprehensive and collision coverage in general, because it may be just unreasonably costly. But in that case be prepared to pay for the repair out of your pocket.
3. Hybrids help you save money. Some insurance carriers offer up to 10% discounts for driving a hybrid vehicle. Still, if you don’t feel like owning one of such cars yet, you may go with a safe profile car instead. Insurance companies issue report containing the safety rating of car makes and models, so it’s a good idea to think about.
4. Do not pay for coverage you don’t use. Dropping coverage types such as Roadside Assistance, Towing and Rental Car coverage will give you another possibility to save money. Especially, considering the fact that some insurance companies actually provide roadside assistance to their customers as part of the policy.
5. Check your credit report on a regular basis. Your credit rating is one of the elements that strongly influence the final premium you will pay. Keeping your credit record clean of bad debts and outdated payments will earn you a higher credit rating and will help you get a lower insurance premium.
6. Don’t lapse your insurance policy. Missing your annual policy payment is likely to cause its cancellation, and it will be much harder and more costly to get a new policy even with another provider as this will be noted in your report. In case you don’t have the money to pay your premium in full, ask your agent if a partial installment will prevent you from losing the policy.
7. Good students can opt for discounts. The majority of auto insurance carriers offer 10-15% discounts to college and high school students with an average mark of B and beyond. Also, if a student is enrolled in a college that is more than 100 miles away from his or her residence, the student is also eligible for a special discount.
8. Keep your driving record clean. Having no serious violations or accidents on your driving record is a good way to keep your rates lower. However, a single speeding ticket can result in up to 25% increase of your rates, so make sure to drive safely.
9. Install anti-theft and safety devices into your vehicle. Having airbags, anti-lock brakes and special security devices that protect your car from being stolen or vandalized can lead to significant discounts. Discuss all the options with your insurance agent or broker before installing such gadgets.
10. Shop around. Don’t go with the first policy you are offered, and think about changing your carrier if your current policy doesn’t meet your needs and is too pricey. There are a lot of sites out there that let you compare auto insurance quotes from different companies online, so take your time and choose the best policy you can get before actually taking it.