1. Comparison Shop: This is one of the easiest ways of all the techniques to save money. Insurance companies have different rating variables, so comparison shop with as many companies as possible.
2. Don't Make Monthly Payments: Making monthly payments is usually the most expensive way to pay for a policy. Try to pay the policy in full or in two payments if possible to save the most money.
3. Use Electronic Funds Transfer: By using this option you can save up to 6 dollars per bill that's a savings of $72 per year if you chose a monthly billing cycle. It's easy and very secure, your payments will be automatically deducted from your saving or checking account.
4. Buy The Policy Early: There are insurance companies that you can get a discount from if you buy your policy a week before you need it to start.
5. Have Good Credit: Many companies are now using an insurance credit rating. A big part of this is your actual credit score, so if there are any ways to help increase your credit score it can help you save. Some companies offer an option not to use credit scoring so ask if you know your credit isn't average or better.
6. Driver Training: If you take a drivers training class you will receive an additional discount. The class will usually pay for itself the first year and you will receive a discount for 3 years. Once the discount expires you can take another class.
7. Increase Your Collision Deductible: By increasing your deductible to $1000 from $500 you can easily save $100 but be aware you take on more risk. Your comprehensive deductible isn't recommended to be raised because it is relatively inexpensive to begin with.
8. Inquire If There Are Other Discounts: There are many discounts you may receive but might not know about. So, ask what other discounts are available. Some discounts are a more than one car on the policy, more than one policy, incident free driver, vehicle safety feature discount and good student just to name a few.
