The following tips are intended for people who want to save some money when buying auto insurance.

• Do comparison shopping – It wouldn’t hurt to call different companies or visit different websites to see what they offer. If your quotes are priced high, you can be sure your current insurer has the best deal and if they are priced low, you can always switch companies.
• Increase your deductibles – This is your other option to lower your insurance premiums and save. A deductible is the money you agree to pay out of pocket before your insurer pays the remaining portion in the event of injuries or car damage. When you have a high deductible, your premium is automatically lowered. Select the highest possible amount you can afford and set that as your deductible.
• Your vehicle is protected by comprehensive and collision coverage in the event of damage or theft. You’ll save a substantial amount of money if you cancel your collision and comprehensive coverage if you have an older car. This is because during compensation, you will only be paid the cash value of the car at the time of the damage or loss. Take into account the value of your vehicle, the amount of premium you pay and the deductible. You may find that you are paying more than the market value of the vehicle. However, you may have to stick with these coverages if you bought the car on loan, but once you pay off the loan, you can always drop them and opt for a better, cheaper alternative.
• Choose an economical vehicle: Sure, that Ferrari or Corvette is fun to drive, but only if you don’t want to save money. A car that is expensive to repair and one that is at high risk of theft typically commands a high price, which is reflected in your premiums. You can find the cars that are most likely to be stolen at places like the Highway Loss Data Institute.
• Get Low Mileage Usage Discounts – Some insurance companies will reward you in the form of low mileage usage discounts. Thus, if you live near your workplace, you can share a car and decide to walk, or take public means from time to time.
• Check with your agent or insurance company for discounts available to lower your premium. The installation of security elements such as air bags, anti-lock brakes, anti-theft systems, etc. substantially reduces the cost of premiums. There are also discounts extended to policyholders who decide to consolidate all of their insurance policies under one provider. Discounts are a proven way to lower insurance costs.
• Have a clean driving record – This is one of the main determinants of the amount of premium you will pay. If you don’t violate traffic regulations, have no history of accidents, etc., you will most likely get lower rates than a reckless driver. You will find many companies that offer discounts to drivers with clean driving records because such drivers put the company at less risk of accidents.

Last but not least, keep your insurance policies current by paying premiums on time and avoiding late fees. Also, if you renew your policy, you may be eligible for some discounts, as companies would like to extend such incentives so that you can always keep your policy current and valid at all times.