How to Bring Down Car Insurance
- 1). Find a better rate. If you have purchased insurance from the same company for many years, consider shopping around to find a lower rate. Use the map from the National Association of Insurance Companies to find the website for your state's regulator, where you can compare premiums from reputable companies (see Resource). You can also use third-party companies such as eSurance and CarInsurance.com. If you are about to purchase a new car, shop around for rates on various models, as the costs can vary dramatically. Avoid models that are expensive to repair or are stolen frequently.
- 2). Raise your deductible. If you don't generally have any accidents, check the savings offered by raising your deductible to a higher amount. Make sure you have enough allocated in your savings account, though, should you ever need to pay for repairs out of pocket.
- 3). More and more auto insurance carriers are using your credit score to make rate calculations, the car information website Edmunds.com points out. Check your credit report to remove any errors or pay off bad debts before you apply for insurance.
- 4). Make use of discounts. An increasing number of discounts are available for consumers who opt for safety gear, install anti-theft devices or have a good driving record. Get an approved anti-theft device such as LoJack. Park in a secured garage. Inquire about discounts for older drivers, homeowners, groups such as AAA or students with good grades.
- 5). Pay your insurance premium in full. Many car insurance companies charge installment fees or higher payments if you pay monthly or quarterly. Pay the whole premium if it is financially feasible for you.
- 6). Drive less. Most insurance companies offer discounts for low mileage on a yearly basis. Some companies such as Progressive even offer pay-per-mile auto insurance programs. To lower your miles, car-pool to work and avoid long-distance road trips with your vehicle.
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