“Comparison shopping is one of the most effective ways to save on your car insurance,” says the website’s editorial director Michelle Megna. “That’s because no two companies charge identical amounts for the same policy.”
The experts say it’s wise to shop around for the lowest rates on an annual basis, especially if there’s been a change in your personal profile. This includes buying a new vehicle, adding a second or third car to your policy, and adding or removing a driver from your coverage. Other triggers include getting married or divorced, moving to a new address, or buying a house.
Carriers typically issue discounts for having anti-theft devices like alarms, ignition kill-switches and GPS vehicle recovery systems installed. Teens who’ve taken approved driver training and/or get good grades will often receive a discount, as will older drivers who’ve completed a defensive driving course.
Even if you don’t switch carriers, you can cut the cost of auto insurance premiums by tweaking your coverage. Every state mandates minimum liability coverage that every policy must maintain. While it can be prudent to carry additional coverage if you have a great deal of assets to protect, adhering to only the minimum amounts in this regard will result in the lowest applicable rates.
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