1. Ask for higher deductibles
Request higher deductibles on collision and comprehensive (fire and theft) coverage and lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive cost by 15 percent to 30 percent.
2. Drop collision and/or comprehensive coverages on older cars
It may not be cost effective to have collision or comprehensive coverage on cars worth less than $1,000 because any claim you make would not substantially exceed annual cost and deductible amounts. Auto dealers and banks can tell you your car’s worth.
3. Buy a “low profile” car
Before you buy, check insurance costs because fast and expensive cars that cost more to repair and are a favorite target for thieves have much higher insurance costs.
4. Take advantage of low mileage discounts
Some companies offer discounts to motorists who drive a limited number of miles a year.