- Shop around and compare quotes from different insurance companies. Each company uses its formula to determine rates, so you can save a lot of money just by shopping around. You can get quotes online, over the phone, or through an insurance agent.
- Consider your driving history and vehicle safety features. Insurance companies consider your driving history (e.g., accidents, tickets) and the safety features of your vehicle (e.g., airbags, anti-lock brakes) when setting your rates. If you have a clean driving record and a safe vehicle, you can expect to pay lower rates.
- Take advantage of discounts. Many insurance companies offer discounts for things like paying your premium in full, having a good credit score, and being a homeowner. Ask about any discounts that you may be eligible for.
- Raise your deductible. The deductible is the amount you must pay out of pocket before your insurance kicks in. Raising your deductible can lower your monthly premiums.
- Consider usage-based insurance. Usage-based insurance (UBI) is a type of insurance that tracks how much you drive and how safely you drive. If you drive less or more safely, you can pay lower rates.
- Bundle your auto insurance with other policies. If you have other insurance policies, such as homeowners or renters insurance, bundling them with your auto insurance can often save you money.
- Get quotes from online insurance companies. Online insurance companies often offer lower rates than traditional insurance companies because they have lower operating costs. However, make sure that you research any online insurance company before you buy a policy to ensure it is reputable.
