Save Money On Auto Insurance

Everyone wants to save money, especially on fixed expenses like car insurance. With gas prices reaching all-time highs and a weakened economy, more and more people are looking to cut costs wherever they can. So what can you do to save money? Here are six things you can do to save money on auto insurance.

1. Keep your credit in order. Insurers believe that the better your credit score, the less risk you pose. If you have particularly spotty credit, you may end up paying a higher premium.
2. Take a defensive driving course. In some cases you can get a 10 percent discount off of your auto insurance bill just for taking this class.
3. Drive with safety. Just one at-fault accident or ticket can significantly increase your premium. By driving safely, you will lower the risk the provider has of insuring you, plus you'll lower your premium at the same time.
4. Combine your insurance policies. You can get a multi-policy or multi-line discount by insuring your home or car with the same company. Discount can be as high as 20 percent.
5. Choose a higher deductible. If you pay more upfront when you have a claim or accident, this can lower your monthly premium. However, don't take on more than you can realistically handle. The point of insurance is to protect you from financial disaster. Be sure that your deductible amount is in line with your financial ability.
6. Shop around and compare rates. According to SmartMoney.com, getting at least three auto insurance quotes is a great way to find the lowest price. Comparing auto insurance rates is the best way to save, but who has time to shop around. InsuranceBureau.com can help. Save time and money by using one simple form to request rates from competing auto insurance companies. You get multiple quotes without hours on the phone or on the web. Start comparing to start saving.

Sources

1. Six Ways to Save on Auto Insurance, Stephanie AuWerter. (2007). Retrieved April 11, 2008, from http://www.smartmoney.com/consumer/index.cfm?story=autoinsurance
2. Maximizing your savings. Retrieved April 11, 2008, from http://money.cnn.com/magazines/moneymag/money101/lesson22/index5.htm