Marissa Hayes is a technical editor and contributing writer. She holds a Bachelor’s Degree in history, and she was the editor of the literary magazine, The Bluestone Review.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years Leslie Kasperowicz

UPDATED: Feb 29, 2012

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5 tips

People are always trying to cut costs and find ways to save money, especially with the economy the way it is. For many people, even having the right amount of car insurance in place can be a costly burden. However, there are ways to cut costs when it comes to your automobile insurance.

# 1 — Bundle Your Policies

For most insurance companies, if you change to have all of your insurance through the same company you can usually save money on your policies. Not only is this a great way to save money on all of your different insurance policies, but having only one company to pay makes it easier. Save money and time by bundling your insurance policies all in one place.

# 2 — Go with a High Deductible

This can be a gamble for some because of the risk of having to pay that deductible at some point. A higher deductible means lower premiums, but if you should have to use the policy, your out-of-pocket expense to get the claim moving will be higher. What some people do is raise the deductible say from $500 to $1,000 then put some or all of that money aside in a savings account. That way you do not have to scramble should the need arise that you have to pay the deductible.

# 3 — Shop Insurance before Buying that Car

There have actually been cases where people have gotten themselves into a new car payment or lease payment, drive off the lot and then go home to get their insurance sorted out. Sadly, a good number of these people end up finding out their insurance is going to run as much or more than that new monthly car payment. Do not assume you can afford it and get yourself into this type of financial burden.

These are just a few of the tricks that can help you get your insurance to an acceptable rate. Of course, there are plenty more. People often overlook and do not think about or realize many important things when they shop for or secure their very own policies.

# 4 — Don’t Make Monthly Payments

This drives the price up and adding to yet another monthly bill can be difficult. Have your payments set up quarterly, every six months or annually. It may be a squeeze at the time, but it pays off in the long run.

# 5 — Shop around Even When You Have Insurance

It is true your time is probably stretched thin as it is, so thinking about shopping for policies, especially when you already have one, sounds impossible. The thing is that even after you have a policy, you should be pricing others, at least annually. Rates can be competitive and things can change, such as a previous accident coming off your record. No matter how much you like you current provider, you have to think like a financial expert and get those companies to compete for your business.

Don’t worry if you don’t have time to compare companies. Simply provide us with your zip code and we can start getting your auto insurance comparison rates today.