Not everyone pays the same price for their policy even though their situations may be similar. There are many discounts and methods for controlling the premium rates that you will pay for coverage.

Know What Discounts to Look for and How to Qualify for Them

It is quite common for drivers to spend years paying too much for auto insurance policies when they could receive the same coverage for less. Part of the problem is that shoppers are unaware of the methods and options available to them for finding the best deals or paying the best price for what protection they do have.

Ask for discounts: The most effective way to get a low cost policy is to make sure you are receiving the best discounts that are available to you, as auto insurers typically offer a wide range of price savings. Often, however, providers will not volunteer this information to their policyholders so you should be prepared to research and ask for them yourself. Common policy discounts to keep an eye out for include: multiple policy discounts for those who insure more than one car, or their car and house with the same company, military discounts, good driver discounts, good student discounts, and discounts for different safety features available in automobiles.

Car keys and a wallet with cash.

Shop multiple companies: Far too often the search for an insurer begins and ends too quickly without a lot of research. Whether or not you have a local agent you've worked with or get a referral from your best friend's uncle's cousin, you are best served in comparing quotes from at least three or four providers if you want to find low cost protection. When you are comparing quotes, you will also want to make sure you are comparing apples to apples in policy features.

Adjust your deductibles: Do not assume that the price of coverage from company to company will be at the same levels based on a single deductible level that you choose. One company may seem more expensive than a competitor at one deductible level but come in significantly less than the competition if you raise or lower the deductible you are willing to pay with the various plans you are considering.

Do not let your coverage lapse: If you are switching insurance companies, make sure you receive notice of coverage with your new insurer before you allow your old coverage to lapse. Not only could this save you from the possibility of an accident while you are not covered, but providers tend to look unfavorably upon gaps in coverage and it may result in an increase in rates with your new company.


Buy your policy like a pro

Rather than falling prey to a quick pick insurance company and policy that may or may not suit your needs, learn how to shop properly.


Manage your own plan well

There are a variety of policies and opportunities that are available. Wise management of your options can make a big difference.