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Step 1
Raise the deductible on the insurance policy. The higher the deductible the lower the policy fee will be on the insurance. Be absolutely sure the deductible can be afforded if a claim needs to be filed.
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Step 2
Pay off the policy at one time as opposed to monthly intervals. If a person can afford to pay the policy premium in full this simple step can save up to 7 percent on the premium.
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Step 3
Take out home, life and auto insurance policies with same company to save on insurance costs. Insurance companies will often offer a discount for people that have all of their policies with the same insurance company. These discounts can save as much as 15 percent on the premium. The insured should be extremely comfortable with the insurance company because all their insurance eggs are in this one basket, so to speak.
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Step 4
Attend a defensive driving course every year. This can reduce the cost of auto insurance by 5 percent and most defensive driving classes offer discounts for people taking the class for insurance purposes only. Also this does not preclude a driver from taking defensive driving to get a traffic ticket expunged from their record.
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Step 5
Keep the insurance agent informed of life changes such as retirement, moving house or changing cars. Basically make the insurance agent aware of any major life changes.
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Step 6
Ask the insurance agent about safety discounts. There may be more discounts available if a driver has not had an accident for a certain period of time. Also on all policies there can be discounts for policy holders that have not filed a claim for a period of time.
