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How to Save Money

Auto insurance can be expensive but here are some ways to save money:

  1. Drive safely: Nothing will increase your rates more than accidents and traffic tickets, particularly for drunk or reckless driving.
  2. Shop around: Auto insurance is like anything else. Shopping around can help you find a better deal. Get the Beehive's guide to choosing an insurance company, which has a section on shopping around for the best deal.
  3. Drive a "low profile" car that is safer, less expensive to repair, and less likely to be stolen. Get a list of the 10 cheapest cars to insure. And to find out what to avoid, click here for a list of the 10 most expensive cars to insure. (Find out how your car performs in a crash).
    Get a list of the 10 cheapest and most expensive cars to insure
    (Find out how your car performs in a crash).
  4. Ask for higher deductibles: The higher your deductible is, the lower your premiums will be. The flip side of this is that the higher the deductible is, the more you will pay if you actually get in an accident. It's usually a good idea to have a deductible of at least $300-500 on collision and comprehensive insurance.
  5. Consider dropping collision/comprehensive on older cars: If your car is now worth less than $2,000, it may not be worth it to get collision or comprehensive insurance. Remember, unlike other parts of your policy, like liability or personal injury protection, these are optional.
  6. Drive less, pay less: If you don't drive many miles (less than 10,000 a year), some companies will offer you cheaper rates.
  7. Consider insurance costs when moving: Sometimes the difference between one county and another (or even one neighborhood to another) can mean a lot when it comes to the cost for car insurance. (If you live in an area with a lot of auto theft, for example, your rates will be higher.). Also some states have higher insurance rates than others. Find insurance information about your state compares.
  8. Get safety and anti-theft devices: With many insurance companies, having safety features like air bags and antilock brakes and anti-theft devices like car alarms will save you money.
  9. Get good grades: If you're under 25 you'll automatically pay more, but if you get good grades in high school or go to college, many insurance companies will give you a "good student" discount.
  10. Take defensive driving courses: A lot of insurance companies will charge you less if you've taken a defensive driving course (this makes it less likely that you'll get in an accident).
  11. Insure more than one car: Some companies will offer you savings if you insure two or more cars with them at a time.
  12. Add life or home insurance: Some companies will give a discount if you buy other kinds of insurance (like property or life insurance) from them along with auto.

Audio Expert:

Which of these tips will save me the most money?

 

 

How do I get discounts for things like having airbags or taking a defensive driving class?

 

 

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