7 easy ways to help lower your car insurance premiums
- Choose car safety and security features. Driving a car that has a number of built-in safety features, such as airbags and antilock brakes, and security features, like anti-theft and engine cut-off systems, may qualify you for lower car insurance premiums. Such vehicles are statistically less likely to be in an accident or stolen than those that don't have these features.
- Set higher deductibles on your auto insurance. The higher your deductible — the amount of money you will pay out of pocket in the event of a claim — the lower your premium generally is. Typically, deductibles range from $0 to $1,500.
- Take a defensive driving course. Some auto insurance companies offer discounts for drivers who successfully complete a safe driving course at an accredited institution. Typically, these courses are taken by teenage drivers and seniors, but any driver may benefit from taking one.
- Park your car in a garage. Many insurance companies offer discounts to people who park their cars inside a garage, rather than out on the street or in a driveway. Statistics show that vehicles in garages are less likely to be stolen or in accidents.
- Compare auto insurance quotes. Be sure to get several auto insurance quotes when shopping around, then compare them side by side to pick the one that's best for your situation.
- Bundle insurance policies. If you buy more than one policy from the same insurer, which is often referred to as bundling, you may qualify for a multi-policy discount. For example, you may save money by purchasing both homeowners and car insurance from the same company.
- Get good grades. If your full-time student is earning good grades, they may qualify for a lower car insurance rate. Students typically must be under age 25 and unmarried. Your agent can tell you about other potential ways to save if a young driver is on your policy.