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The following helpful tips are important for locating the perfect auto insurance quote that fits your budget and driving needs at CarInsuranceQuote.com

In these tough economic times, expenses like car insurance can be difficult for many Americans to keep up with. However, consumers who shop around and research their insurance options may find that a car insurance policy can be less expensive than they imagined.

Being financially stable pays off for lower car insurance rates

Drivers who are financially stable increase their deductible payment, which will ultimately lower premium car insurance rates. While this move may require a bigger investment in the event of a car crash, policyholders who can boost their deductible to at least $500 [from $200 or $250] may be able to save up to 40 percent on comprehensive and collision coverage.

Pay-as-you-drive car insurance policies may save infrequent drivers money

Drivers without an extensive commute may want to consider opting out of their current plan for a pay-as-you-drive car insurance policy, now available from multiple insurers. This option may be particularly appealing to female drivers searching for lower auto insurance quotes, who on average drive 6,000 fewer miles than men each year, reported the National Household Transportation Survey. The programs allow customers to receive discounts on their premiums based on low-mileage and driving safety and this should save California policyholders alone about $31 million in 2011.

Being a great student can get you a lower car insurance rate

Discounts on car insurance rates are also available for student drivers with a safe driving record. Full-time high school and college students under 25 can qualify for premium discounts from leading insurers for ranking in the top 20 percent of their class or making it onto their schools Honor Roll or Deans List, depending on the insurer. The Centers for Disease Control and Prevention also recommends enrolling young drivers in licensed driving school programs, which can lead to auto insurance discounts while reducing their chances of getting into serious car accidents.

Over-insuring can result in expensive car insurance policies

Over-insuring is a common mistake that can result in expensive car insurance policies. Cars that are at least 10 years old or have logged more than 100,000 miles don’t need extensive coverage such as collision or comprehensive insurance that a new car may require. Policyholders who drop everything besides necessities like liability coverage will be able to save money and make monthly premiums more affordable.

Keep your credit rating clean to reduce car insurance premium costs

Consumers should never consider ditching an insurance payment even in the face of hardship, as good credit can significantly reduce premium costs. Most auto insurers check out an applicant’s credit history, reported MSN Money, which can help the company determine if they pay their bills on time and study other factors used to create an “insurance risk score” that also factors into their car insurance rate.