Saving on your insurance premiums can be easy to do, but be careful not to cut too many corners. The right policy will save you quite a lot of cash, should you be liable in a car accident. Most states require you to maintain an auto insurance policy, but either way care insurance ensures that you, your family, your vehicles and others, are protected.

The following tips are practical and will help you save money on your insurance policy.

1. Prior to Purchasing A Car You Should Compare Insurance Quotes

If you are buying a used or new car, check out insurance cost before you sign on the dotted line. Your insurance premium is calculated in part by the following factors:

  • The model / make of the automobile.
  • Potential cost to repair the vehicle.
  • The automobile’s safety record.
  • The possibility of theft for the car you want to insure.

Insurers commonly offer deductions for features that can reduce any risk of injury or theft.

5 Tips to Lower Your Car Insurance Premiums

2. Get A Higher Deductible

A deducible is an upfront cost to you before the insurance policy steps-in. By asking for higher insurance deductibles, your cost will lower significantly. For instance, when you have your deductible increased from $300 to $600, you can then decrease your comprehensive and collision coverage budget by 15 to 30 percent; even more when you choose a $1000 deductible.

3. Reduce the Coverage On Your Older Vehicles

Keeping collision coverage on an older vehicle may not make a lot of sense. The cost to insure the vehicle will probably exceed the amount you get back on filing a claim.

4. Take Advantage of Discounts

Many insurers offer savings for things like:

  • Owning your home
  • Continuous insurance coverage
  • New policy for auto insurance
  • Military
  • Insuring multiple cars
  • Senior
  • No Accidents / Good driving record
  • Multiple policies
  • Good Student added to your policy and many more

Ask your insurer for a list of discounts they may provide to save even more on your monthly insurance premiums.

5. Keep Your Credit Good

There are many state that require you to submit to a credit check, in order to view your report. Your credit rating can impact the amount you spend on your card insurance. According to Anthony Clark Insurance Ltd., safe driving practices are the easiest way to maintain a lower premium. You also want to keep in mind that restoring and maintaining a good credit rating and continuing to pay your bills on time, will ensure that your monthly insurance cost is reduced.

By following the suggestions and tips above, you are surely to save some money on your monthly premium. Shop around to locate the best policy, and always drive safely.