One effect of the economic recession? We want to save more money. And one area to evaluate for savings is in the area of insurance. After all, car insurance costs can be a huge expenditure in our budgets. That is why it is essential for us to make sure we are getting the best coverage for our dollars. Here are five great strategies that I have used to lower my auto insurance premiums and get the best value out of my driving dollars.

Reduce Car Insurance Prices & Costs With These Tips
1. Compare prices and speak to someone in person. It is essential that you know what all the other insurance companies are offering as far as auto insurance quotes. If you have had a policy with the same place for years, go online and do research on some of the top competitors. Most auto insurance companies offer easy quotes online. I suggest checking Geico, Progressive, Stare Farm, and Allstate and any other big name company with a good reputation. Here’s a list of web sites that can offer you additional leads:
Auto Insurance Sites
- US Insurance Online
- InsuranceAgents.com
- InsureMe
- Esurance
- NetQuote
From these resources, gather your quotes, and if you find that your current insurance premiums are higher, then call your agent and discuss your findings. Inform the agent that you are trying to cut costs in these tough economic times and will be forced to switch agencies if the premiums are not lowered. They will want to keep you. Believe me! I got the best policy (price-wise) with Allstate, using this strategy.
2. Combine policies. If you currently pay for homeowners insurance or renter’s insurance, then you’ll want to combine this policy with your auto insurance policy. Most insurance companies offer a multiple policy discount if you have more than one insurance policy with them. This is another discount that I received with my Allstate policy.
3. Make sure you get all the discounts for which you qualify. Every insurance company has discounts that are offered. The trick is to make sure that you address every one that you qualify for on your plan. This is where “calling the agent and informing them of a cheaper policy” comes into play. They will come up with every discount in the book to get your policy lower and keep you as a customer.
Here are the ones listed on my policy: multiple policies, good payer, antilock brakes, premier plus, and passive restraint (air bags). You may also qualify for other discounts if you are a member of a business organization or a member of the military. Geico.com has a drop down box on their quote page asking if you are a member of specific organizations. Use this tool to compare the discounts from other companies with those of your current insurance company.
4. Find out if you qualify for a discount on your car insurance policy if you work from home. Do you work from home? Then your car can be designated as being used “for leisure”. I actually work from home; therefore, my car is considered a car for leisure. This qualifies me for more discounts on my auto insurance policy. Basically, if your car qualifies as being used for leisure, it is being used less, which cuts down on your accident risk. If you work from home, then call your insurance company and inquire about this discount.
5. Increase your deductible if you have emergency savings already in place. If you have already saved up a substantial amount of money in your cash and savings accounts, then you could consider increasing your deductible. Given that you have a backup savings fund to cover possible mishaps, you can afford to raise your deductible (and take some additional risks). Sure, you’ll increase the amount of money you’ll have to pay out of pocket before the insurance coverage kicks in, but the higher deductible can save you a substantial amount of money on your monthly premiums. And that, my friends, is money in the bank.
These are great tips! I think everyone could save money on their car insurance, they just don’t know exactly how to do this. Advertisements are so misleading and there is no right answer and no right company that will save you money. Using all of these tips together may not be the easiest or the quickest, but they will definitely save you the most money.