Jessica Sautter is a Content Writer for CarInsuranceCompanies.com with a Bachelor’s Degree from Eastern Michigan University in Elementary Education with a Major in Reading and a Minor in Mathematics.

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Chris Harrigan has an economic degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.

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Reviewed by Chris Harrigan
Former Auto Insurance Claims Manager

UPDATED: Nov 9, 2020

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Key takeaways...

  • There are many ways to cut the cost of car insurance
  • Start by comparing at least different quotes from various insurance providers
  • Use your current rates as a comparison guide for the best results

Many drivers today are looking for ways to cut costs and save money on their car insurance. Car insurance costs can vary by a number of factors.

You will find that different insurance companies do have different rates, even when you compare them side by side and with the coverages and limits in place.

In addition, there are some factors that you have control over that do have a bearing on the total amount you pay for coverage, too. Changing some of these factors may help you to lower your insurance bill.

Looking for affordable car insurance quotes? Enter your zip code above and start comparing for FREE!

Table of Contents

Shop Around

You can start by shopping around and getting new quotes for your coverage.

Many insurers will change their rates periodically, and you may find that a company that offered you a higher quote a year ago may have the better deal now.

When you shop around, be sure that you are getting equal quotes to your existing coverage.

You can generally shop around on your own, and the easiest way to do this is to go online and use some of the quote generation portals on insurance company websites.

You will need a copy of your current insurance coverage amounts, your driver’s license number, your car information including the VIN, and basic information about your driving history, too.

As an alternative, you can use an auto insurance broker to do the shopping for you. This can save you time and effort, as the broker will contact the insurance companies for quotes on your behalf.

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Not All Insurers Are Equal

One thing to keep in mind is that not all insurance companies equal in terms of the services and experience they provide to their customers.

f you are purchasing the minimum coverage required by your state simply to be “legal” while driving, you may not be interested in the overall customer experience a company provides.

However, most people have heard numerous stories from friends and family over the years about insurance companies that would not pay out after a car accident.

Such a situation may cause you stress and even financial costs in the future.

So while shopping around, you can consider checking out a company’s consumer reviews, insurance rating, and other important factors before you sign on the dotted line and transfer your coverage.

Head over to our car insurance reviews to read reviews for insurance companies.

Decrease Your Coverage

Each state has different minimum coverage requirements in place, and while most insurers will guide you into making a wise decision on coverage, you should educate yourself about the coverage requirements in your state, too.

If you are shopping for new insurance based on cost alone, you can consider dropping your coverage down to meet state minimum car insurance requirements.

 Keep in mind that any costs you incur from an accident that aren’t covered are your responsibility.

By reviewing your state requirements for coverage and your existing coverage in place, you may find that you have room to decrease coverage a bit without dropping it to the absolute minimum state requirements for coverage.

Ask for Discounts

Many insurers offer a variety of car insurance discounts for their auto policies, and you do want to ask which discounts are offered.

Some of these discounts are fairly uniform across the industry, such as:

  • Multiple Cars Discount
  • Married Couples Discount
  • Student Driver Discount
  • Loyalty Discount (after a year or two with the same company)
  • Bundling Discount

These discounts may apply to your existing insurance company, and if your circumstances have changed since you first signed on with coverage from that company, you should talk to your insurance agent.

For instance, if you got married and decided to go back to school within the last year, you may qualify for multi-car discounts and a student discount.

Compare Car Insurance Companies

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Compare quotes from the top car insurance companies and save

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Trade In Your Wheels

Some cars are just more expensive to insure than others. Generally, this is because some cars are stolen more frequently than others, and some cost more to repair after an accident than others.

You may think that sports cars top the list of most stolen cars, but some sedans and family cars are frequently stolen, too.

If you have been considering trading in your car for a new one, you should narrow down your selection to the top three or four models of your preference and get quotes for coverage on each one.

Keep in mind that it may be more cost effective to insure a car that is a year or two older than it would be to insure a newer car, although this is not always the case.

A quick call to your insurance agent before you buy can help you make a more informed buying decision about what a new set of wheels may do to the cost of your coverage.

Before You Move

You may not be aware that where you live plays a role in the cost of your coverage, too.

Location-specific factors such as the crime rate in your neighborhood coupled with your own personal commute time to work each day can affect how much you pay for your insurance.

If you have an upcoming move scheduled, take time to call your agent and find out what that move would do to the cost of your insurance.

You may want to provide your agent with several different addresses of locations you are considering moving to so you can compare the different costs.

Wait for Time to Pass

When it comes to getting the cheapest rates on insurance possible, you may find that time is your best friend. Keep in mind that insurance rates are lower for those who are age 25 or older with most insurance companies.

If you have a poor driving record right now with several speeding tickets, citations, or accidents, often time is your best ally.

You can focus on staying safe and obeying laws while driving, and as more time elapses with a safe driving record, you may qualify for better rates on your insurance.

There are numerous factors that go into the calculating your car insurance premium. Understanding what these factors are is a first step towards getting the best rate on your coverage.

Find affordable car insurance today! Enter your zip code below to get started for FREE!

References:

  1. https://www.autocheck.com/vehiclehistory/autocheck/en/vinbasics
  2. https://www.21st.com/
  3. https://www.nationwide.com/family-plan.jsp
  4. https://www.geico.com/save/discounts/car-insurance-discounts/