1. Shop Around:
When looking for a new policy, get at least three quotes. And if you really want to save, gather several more than that. Rates for comparable coverage can vary by more than $1000 for one year worth of coverage.
2. Get All Available Discounts
Discounts can vary widely by company as well as by state.
3. Increase Your Deductible
Your deductible is the amount you'll pay out of pocket when making a claim before your insurance starts picking up the tab. Increasing your deductible from, say, $200 to $500 could reduce your premium by 15% to 30%.
4. Drive less
If you drive less than a certain number of miles in a year (e.g., 7,500), you may qualify for a low-mileage discount. If your insurer offers this discount, try to limit your driving as much as possible.
5. Make sure Your Credit Report is clean
Like it or not, your credit report can affect whether a company is willing to insure you and at what rate.
6. Don't use your car for business purposes
Work related driving generally subjects you to higher premiums than pleasure driving.
6. Get the Right Car (Low profile one)
If you're in the market for a new car, keep in mind those with the highest theft rates and repair costs will cost more to insure. So if you're debating between two models, it may be worthwhile to give your insurance agent a call to see if there is a notable difference in the insurance costs. Cars are rated on a risk scale for auto insurance purposes. Sports cars and other high-performance are classified as higher risks because they are common targets for thieves and vandals, and because statistically, the people who own them tend to drive more recklessly.
7. Inquire about multifamily discounts
You may receive a discount from your insurance company if you buy more than one type of insurance through that same company (e.g., auto and homeowner's).
8. Drop Some Coverage
If you have an older car, one that's worth less than 8 times the amount you'd pay for coverage; you may want to consider dropping collision and comprehensive coverage.
9. Park your car in a garage
Cars parked in garages are less likely to be stolen or struck by other vehicles. Using a garage to store your car may entitle you to a slight premium reduction.
10. Have safety/anti-theft devices installed
If your car is equipped with one or more of the following options: anti-lock brakes, automatic seat belts, and airbags. Similarly, anti-theft devices such as car alarms and tracking systems may also get you a discount.
11. Drive more safely
You may be eligible for a price break on your policy if you maintain a clean driving record for a specified period. A clean driving record generally means no accidents, moving violations, drunk driving convictions, etc., during that period.
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