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Tips for keeping car insurance low

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Everyone wants to lower their auto insurance. While there are some things that are out of your control in regards to the cost of insurance, here are a few tips and tricks you can use to keeping costs low.
 

First of all, try combining multiple lines of insurance.  For example, many companies will offer discounts on your auto insurance if you also have your home,  life insurance, health insurance, boat insurance or long term care insurance with the same company.  If you have multiple companies providing you and your family insurance on various things, it may be advantageous to consider consolidating to one insurance company. 
 

Insurance companies might also offer discounts for a safe driving history or for your kid’s good grades.  Ask your agent about these types of discounts which include benefits for students, seniors, persons in the military, farmers, etc.  Go online to various websites to see if you qualify for any special promotions or discounts.
 

If you are a member of certain business, social or professional organizations you might also qualify for auto discounts.  Examples include AAA, AARP, fraternal organizations, alumni associations, credit union memberships, medical organizations and others.
 

In addition, as a general rule, the higher your deductible, the lower your premiums.  If you are willing to take more risk by paying more out of pocket expenses should an accident occur, you will notice a drastic decrease in premium amounts.  This is a major factor in your insurance rate.  Decide if you feel comfortable bearing more of the risk on your own or if you prefer to share most of the burden through insurance coverage.
 

Drivers can also get discounts for reaching certain age barriers (such as age 25) and life events such as marriage or buying a home.  If any of these have occurred, or if it’s been awhile since your last accident or speeding ticket, it might be time to get a new insurance rate quote to see if you can save money.  Insurance companies offer quotes for free, so you’ve invested nothing but your time.
 

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