10 Tips to lower your car insurance costs

10 Tips to lower your car insurance costs, Here are the 6 smart and easy tips that can help you lower your car insurance costs easily:

1. Before you buy a car, compare insurance costs, Before you buy a new or used car, check into insurance costs. Car insurance premiums are based in part on the car’s price, the cost to repair it, its overall safety record and the likelihood of theft. Many insurers offer discounts for features that reduce the risk of injuries or theft. To help you decide what car to buy, you can get information from the Insurance Institute for Highway Safety
2. Ask for higher deductibles, Deductibles are what you pay before your insurance policy kicks in. By requesting higher deductibles, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15 to 30 percent. Going to a $1,000 deductible can save you 40 percent or more. Before choosing a higher deductible, be sure you have enough money set aside to pay it if you have a claim.
3. Reduce coverage on older cars, Consider dropping collision and/or comprehensive coverages on older cars. If your car is worth less than 10 times the premium, purchasing the coverage may not be cost effective. Auto dealers and banks can tell you the worth of cars. Or you can look it up online at Kelley’s Blue Book (www.kbb.com). Review your coverage at renewal time to make sure your insurance needs haven’t changed.
4. Buy your homeowners and auto coverage from the same insurer, Many insurers will give you a break if you buy two or more types of insurance. You may also get a reduction if you have more than one vehicle insured with the same company. Some insurers reduce the rates for long-time customers. But it still makes sense to shop around! You may save money buying from different insurance companies, compared with a multi-policy discount.
5. Enroll in a driving course: Various car insurance companies offer discounts to the consumers who have taken defensive driving courses. It is believed that those who take these driving courses are less likely to make accidents. Hence, the insurers charge lower premiums on drivers who have enrolled in defensive driving courses. Enrolling in a driving course doesn’t take much time and saves your dollars. So, before purchasing car insurance, make sure you get enrolled in a defensive driving course recognized by your insurer.
6. Compare the quotes: It is a known fact that different insurance companies charge different quotes. So, it is essential to shop around before purchasing a car insurance policy. You can get information on quotes from your insurer, insurance agent and from the internet. It is better to compare minimum 3 price quotes in order to grab the best deal.
7. Raise your credit score: It is known to everybody that decent or high credit scores enable the consumers to get lower insurance rates. It may be the case that you don’t have a good credit score right now. Well, in this situation, you should work hard to raise your credit score. It may take few months to increase your credit score. But, once you have achieved that, you’ll be able to qualify for a cheap car insurance policy.
8. Go for the higher deductible: If you have adequate funds, then it is advisable to go for a higher deductible. You may be surprised to know that this can help you lower your car insurance cost by as much as 15%.
9. Purchase safety equipment: Very few people know that they can lower their insurance cost by 5% to 40% by installing safety equipment in their cars. Yes, it is true that you can save hundreds of dollars by installing standard air bags (driver-side air bags, full-front air bags), daytime running lights, car alarms, anti-lock braking system and anti-theft system in your cherished car. So, install this equipment as soon as possible on your car
10. Ride an inexpensive car: Car insurance companies charge higher premiums on consumers having sports, luxury, or expensive cars. The reason is, sports or luxury cars have high theft rates. Moreover, it is quite expensive to repair these cars. So, an easy tip to lower your insurance cost will be to purchase a small and inexpensive car.
    

Finally, you can take advantage of the multi-policy discount and save thousands of dollars on your car insurance. There are several insurance companies that offer the multi-policy discount to the consumers. All you need to do is purchase multiple insurance policies from the same insurer. As the insurance company is getting a hefty amount of money overall, they will charge lower insurance premium.