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- Shop – before you stop. Spend quality time shopping for the best insurance premiums. Even if you’ve been doing business with the same company for years, there’s always the possibility that a competitive company will make you a better offer. Or. At the very least, you can take the competitive offer back to your insurer to negotiate a better deal.
- Are you active military? If you’re active military, or even retired, you may be able to qualify for special discounts.
- Insist on paying higher deductibles. If you’re involved in an accident, you most likely will be asked to pay a deductible. The deductible is the amount you must pay before your insurance policy takes effect. A higher deductible payment could mean lowering your collision and comprehensive coverage costs by as much as 20-30 percent. The more you choose to pay on your deductibles, the lower your cost for coverage can be.
- Consider lowering or eliminating coverage of older cars. If you’re driving an older car, you may want to consider that you cost of insurance could exceed the amount you receive on a claim. Check with your sate first before eliminating coverage on an older car. Auto liability requirements are likely vary from state to state.