1. Get quotes from at least three different companies to
compare prices and services.
2. Before purchasing a new car, read sources of information
such as Consumer Reports magazine to see if the vehicle has a high accident rate or is popular with thieves. You also can write to the Insurance Institute for Highway Safety, 1005 N.
Glebe Rd., Suite 800, Arlington, VA 22201 and ask for the Highway Loss Data Chart.
3. See if you can get a package deal by buying your
homeowners, auto and other insurance from the same company. You may also get a discount if you insure all of your family's cars with the same company.
4. Increase your deductible if you feel you can handle the out-of-pocket
expense in the event of an accident. For example, increasing your deductible to $500, rather than the standard $250, will cut the cost of your insurance.
5. Consider dropping collision coverage as your car ages. There comes a
point when your aged auto's book value is less than the cost of repairing it, and remember, the most your insurer may pay is the car's book value. You
can find out the current value of your car from the N.A.D.A. Official Used Car Guide, available at most local libraries, bookstores or banks.
6. Drive safely and obey the speed limits. Don't drink and drive. A good
driving record lowers your insurance rates. Always wear your seat belt.
7. Check to see if you qualify for any of the following discounts (which are not
permitted in all states and are not offered by all insurance companies):