If you drive, you know you need auto insurance. Here are some tips to help you save some cash when you are looking to buy an auto insurance policy for your car.
- Purchase a car you can afford to insure, or drive a "low profile" car equipped with specific money-saving safety features. Insurance costs vary by make and model, so be sure to ask your agent for advice.
- Compare prices. Premium costs vary. Call around and check online for rates, and always be sure to compare the exact same coverage.
- Search for discounts. These could include low annual mileage, multiple car coverage, automobile association memberships, anti-theft systems and professional affiliations and more. Even if you are happy with the initial quote, always ask about further discounts. These can add up, saving you a lot of money.
- Keep your driving record clean. Good drivers can qualify for safe driver discounts.
- Increase deductibles. Policies have deductibles, which is the amount you pay in the event of an accident. Deductibles apply to collision and comprehensive. The higher the deductible, the lower the premium.
- Since collision and comprehensive protect against damage to your car, it may not be worth it to have these coverages on older cars and you may want to skip it. To decide, add up yearly premiums – plus the deductibles – for however long you plan to keep the car. If the cost is more than the car’s value, don’t purchase the coverage.