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There are a number of ways to lower your car insurance. Here are some things to think about:

  1. Shop around.
    Check the minimum coverage necessary for your state, and see what your state's insurance department says are sample rates. Their website can be found by visiting the National Association of Insurance Commissioners.
    Before settling on a policy, get quotes from at least three major insurers.


  2. Consider higher deductibles.
    A deductible is the amount of money you will have to pay before your insurance company starts chipping in. The higher your deductible, the lower premium you will pay each month. An increase of $200 in your deductible could reduce your premium by as much at 30%.
    Select a premium you can afford, then immediately put aside that money in a savings account.


  3. Collision and/or comprehensive coverage is unnecessary on older cars.
    If your car is not worth very much (less than $2,000), you may be paying more for collision or comprehensive coverage than you would collect on a claim. You can get an estimate of how much your car is worth by visiting the Kelley Blue Book.


  4. Buy a "low-profile" car.
    If your car would be expensive to repair or is considered at a high risk for theft, you'll be paying more in insurance. Check the Highway Loss Data Institute web site for information on average collision and theft losses on different types of vehicles.


  5. Take advantage of low-mileage discounts.
    If you put a small amount of miles on your car each year, or can show you use public transportation for the commute to work each day, you may be eligible for insurance discounts. You will have to provide accurate mileage information each year.


  6. Verify your credit history is accurate.
    Your credit history makes an impact on your insurance rates, so make sure that your credit report is accurate and up to date to avoid paying more for insurance than necessary.


  7. Safety features could lower your premium.
    Your state may require that insurance companies reduce your premiums if your car has safety features like antilock brakes or airbags. Many companies will do this even if not required by state law.


  8. Group insurance and corporate discounts.
    You may be eligible for savings for belonging to a trade or professional association, or through your employment benefits package. Members of the American Automobile Association can save by providing their membership information when purchasing a policy.


  9. Check about other discounts.
    Check if there are any discounts available for insuring multiple cars, or perhaps your home, with the same company. Having no accidents on record for a period of time, or having taken driver training courses could also be grounds for a discount.
    Also remember that good student discounts exist for students.
 
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