If you want to save money when you purchase your car insurance here are a few ways that can help you as you search for auto insurance.
First thing you can do is comparison shop. Enter your zip code at CarInsurance.com and let them guide you through a quick 6 minute comparison. It is easy to shop online. Knowing is half the battle, and CarInsurance.com helps you find a lower rate; you always have the option to change insurance companies. Many people think that loyalty or leaving a company affects your rate. As long as you have continuous coverage, you can change companies and save! You can use information from your state's insurance regulator to help you decide. Most all state insurance regulator sites tell you what the state's minimum coverages are and also can show you what other types of coverage are available. Some state regulators give you sample rates. CarInsurance.com does this too...for free. There is also the National Association of Insurance Commissioners' (NAIC) web site which gives such insurance to consumers. Use CarInsurance.com's Car Insurance Tips to learn the latest ways to save for your situation. Armed with this information you can get quotes from a number of companies and find the best one for you.
Increasing deductibles is another way to lower your premium. A deductible is the portion of money you pay before the insurance company pays for damages or injuries. The higher your deductible is the less exposure the insurance company has, thus your premium will be lower. If you choose the highest deductible you can afford you may save hundreds of dollars over the term of your policy.
Dropping Comprehensive and Collision coverage on older cars is another way you can to save money on your insurance policy. This type of coverage protects your car if it is damaged or stolen. Usually it is the cash value of the vehicle at the time of a loss minus the deducible. On older vehicles the value is lowered already by depreciation. You need to take into consideration the premium you pay, the value of the vehicle and the deductible you have. You may be paying more for the coverage then the vehicle is worth. If there is a lien holder on the car, you normally have to keep this coverage on the car until you pay off the loan. After the car loan is paid off it is your choice if to keep these types of coverage and at what levels.
Buying a more economical car may help reduce your insurance. Yes, driving that Corvette is fun but if you want to save money maybe you can be driving something that is a little less expensive. Vehicles that are costly to fix or that have a higher chance to be stolen are generally higher priced as far as your insurance premium. There are reports that you can check to find out which cars are stolen more often. One of these types of reports is by The Highway Loss Data Institute (HLDI). Parts and repair times also tend to me more costly on higher end vehicles. A vehicle that is easier to repair will save with labor costs thus help lower your premiums.
Some companies give discounts if you do not drive your car as much. If you live close to your job you may get discounts for this lower mileage usage. Some companies may also list the car as an "occasional use" vehicle based on the mileage, which can reduce your premiums.
Asking about which discounts are available is a great way of reducing your premium. Discounts are given for safety features such as airbags and anti-lock brakes. Anti theft systems can reduce costs as well. Owning a house, being married, driver training courses and having no tickets or accidents are all ways that may make it possible for you to be eligible for discounts. Getting a list of discounts from your company is a great way to reduce your costs.
Maintaining a good driving record is also a major determining factor on how much the premium will be. If you can maintain a safe driving record, one without violations and/or accidents, your rates will be lower than someone who is more reckless. Many companies give discounts if there are no violations on your driving record. This is due to the company potentially having less exposure insuring a driver with a clear driving record than the driver with multiple tickets and/or accidents.
One final way to save on insurance is to keep your policy enforced. By making payments on time and keeping your policy intact you avoid extra late fees and you avoid costly tickets for not carrying the proper type of coverage that your state requires. You avoid possible a suspension of your driver's license and you also may be eligible for discounts for renewing your policy all by just keeping up with your premiums. Most companies will give renewal discounts as an incentive to stay with them and keep your policy valid and in good standing.
These are just some ways that you as a consumer may use to lower your insurance costs. Now get out there and start saving some money!