Auto Insurance • What To Do In an Accident • Price Factors • Types of Insurance • How To Save Money • Legal Help

How to Save Money on Auto Insurance

First off, you absolutely MUST spend some time shopping around for different auto insurance quotes. Different companies will offer different premiums for the exact same coverage. Furthermore, an increasing number of companies will offer you a quote immediately when you fill out a simple form online, so getting a quote takes half the time it used to.

We've found that these auto insurance discounts are some of the best. When shopping around online, here are some hot hints on how to lower your car insurance:

  • Raise your deductible to $500 or more
  • Insure multiple cars and your home with the same company  
  • If you drive less than 10,000 miles per year, ask about a discount for low mileage (particularly if you carpool to work, for example)
  • Ask about discounts for anti-theft and safety devices built into your car or truck (car alarm, OnStar, automatic seatbelts, daytime running lights)
  • If you are a student, you may get a discount if you have good grades (generally a B average or better)
  • Insurance companies generally reward loyalty--you may get a discount if you've been with the same company for a long time
  • If you are a teacher, a member of the armed services, enrolled in certain professional associations, or work for a large corporation, the insurance company may offer you a discount
  • Membership to other clubs, such as AAA, may get you a discount (certainly in this case you could waive the free towing coverage on your car insurance)
  • Understand what coverage you are comfortable waiving: if you have excellent health insurance, it might make sense to waive PIP, if your car isn't worth very much, you can consider skipping comprehensive and collision insurance, etc.

Of course, don't be afraid to ask about other discounts! Insurance companies know that they are competing for your business, so don't be afraid to make them compete!
If you found this content useful, please !
 

We are not affiliated with any of the establishments listed on this site. The advice on this site is based on our own experiences and those of other visitors who have contributed. We imply no guarantee, and the research here should NOT be taken as professional advice. Disagree or have something to add? Email us! This is a community-based site--feel free to contribute or link to us if you found it useful!

© 2005 HotInsuranceHints.com