Let's go over the most important factors that will bring your rates down the most.
* Drive a Vehicle that's Cheap to Insure
While this might seem like common sense to you, surprisingly many people spend days and weeks shopping for the right car, without ever considering the cost of coverage. Stay away from vehicles that are sporty with powerful V8 engines. This means Corvette's, Porsches and other high-performance cars. Also, take a couple of minutes and review the most stolen car list. You might be shocked that boring cars like Honda Accord's make this list every year. You will pay about 20% more for insuring one of these cars thieves target the most. Stick to a slightly used car like a Subaru Forester, and you will have a super safe ride that's also cheap to insure.
* Maintain a Good Credit Score
Carriers are putting a greater emphasis lately on a person credit score. The better your credit rating is, the less you will pay for coverage. The reasoning behind this is of course risk. People that are less risky financially are more likely to be more responsible drivers and not make reckless driving decisions. If you have a low score, take moves now to get it higher and also make sure there are not false items on your report that are dragging it down. Shoot for a credit score of 700 or more and insurers will offer you some sweet deals.
* Live in a Rural Area
If you are thinking of moving out of the city, then you might be pleasantly surprised that you can save more on auto insurance. Big cities that are congested naturally have higher rates because there are simply more cars on the road, which increases your chance of getting into an accident. Do a bit of research online, and you can save hundreds.
* Increase Your Deductible
This is a very easy tip that you should strongly consider and is something you can control 100%. Setting your deductible to a higher level, $ 1,000 or more, will save you on average about 10%. The catch is you will need to save all of this amount in case you do get into a crash and file a claim. If you have a really old car, older than 10 years, it's not worth getting a high deductible because the value of your car might only be $ 2,000 or $ 3,000. On the other hand, if you have a new vehicle, you will be paying more for coverage, so this is a great way to get a price break.
* Drop Useless Coverage
If you are in the market for automobile insurance, then take a look at your old policy. Read it carefully and go over each item. Do you see any coverage that was not needed? If so, when you apply for future quotes, get rid of unneeded add-on items. For example, if your credit card company already has you covered for rentals, you do not need additional coverage from your carrier. The same goes for towing and roadside assistance if you have a plan with an A³ plan. Get the coverage you need and nothing more and save your hard earned money.
* Get as many Discounts as you can
Insurers want your business, and a common incentive most use to lure you in, are discounts. Most providers have multiple discounts available. Your job is to take advantage of each one you qualify for. Some of the offers vary but can be anywhere from 5% to more than 10%. Here a few of the most common.
1. Safe Driver
This means no or very few tickets and no accidents on record.
2. Low Mileage
If you drive fewer than 1,000 miles monthly, you can qualify.
If you are currently an active military member of vet, you can save about 5%.
4. Good Student
Students who have and maintain a B or higher GPA can get discounts up to 10%.
5. Multi-Car and Home Bundling
Insurers want your business, and you can save some serious dough by bundling all your vehicles and home together with one company.
6. Enhanced Safety Features
If you have special safety enhancements on your vehicle like dual airbags, anti-lock brakes and a GPS-based security alarm, you can qualify for a big discount.