How to Lower Your Car Insurance Premiums by $300

One way to save money is to find ways to cut the cost of your car insurance premium. Here are some ways to lower your car insurance premium by $300 a year.

Difficulty: Easy

Instructions

1. Shop around, call each major car insurance company and ask for a quote. Depending on where you live one insurance company maybe a lot less expense then the others. This will take time but it could save you 10-20% off your car insurance premium.

2. Raise your deductible, if you raise your deductible you are telling the insurance company that you are willing to pay more out of your pocket if you get into an accident or a theft occurs. Going from a $200 to $500 could save you up to 30% off your car insurance premium.

3. Reduce insurance coverage, lower coverage means you will receive less money from your car insurance company in case of an accident or theft. If you have an older car, this option could be particularly appealing. If you drop the collision and comprehensive coverage and stick with just liability coverage, you will reduce your car insurance premium.

4. Low mileage discount, if you put very few miles on your car in a given year, some car insurance companies will lower your car insurance premium. Not all auto insurance companies have this policy. This could reduce your car insurance premium by 5-10% a year.

5. Safety equipment, make sure you are getting credit for having a safety-equipped car. Contact your auto insurance company and make them aware that your car has such things as daytime running lights, anti-lock brakes and air bags.

6. Multiple policy discount, many car insurance companies will provide a discount on car insurance if you also allow them to cover your house as well. This can amount to a 10% savings off your car insurance premium.

[mymind]

on 8/14/2009 Good points, nice article.

[klickitmedia]

on 7/5/2009 Hi sentimentbeat,
These are good tips for discounts, but I disagree with step one. Now days they have websites that give multiple insurance quotes from up to 8 companies from filling out a simple 5 minute form. I would recommend a company like this, instead of contacting each individual company. It's faster to make $300 working than to fill out all those forms! ;) Here are several secure and reliable websites that provide multiple insurance quotes with one form: www.insuranceagents.com, www.insurance.com, www.lowestinsure.com, www.insureme.com