car insuranceThere are many ways to save money on auto insurance. Many of these ways involve simple discounts that are not always advertised by insurance companies. It is possible that your current insurance company offers a discount that you are not aware of. The following are five ways you may be able to reduce your premiums.

Senior Citizen Discounts

It is common for insurance companies to offer older drivers a discount on their policies. Older drivers are a better risk than younger ones, and at a certain age, a discount may become available for a driver. This is not always the case for drivers who are of retirement age. Often drivers in their early fifties can get this type of discount.

Students With Good Grades

If you are a college student, you may qualify for a discount for good grades. This can be an important savings because premiums are high for those in their early twenties.

Anti-Theft Devices

You can qualify for a discount for having certain devices installed in your car that reduce the risk of car theft, or in some instances, enhance the chances of recovering a stolen car. There is a wide range of possibilities with this type of discount, and much of what is offered will be dependent upon the particular insurance company that is offering this form of discount.

High Deductible

If you are carrying comprehensive insurance, one sure way of reducing your premiums is to have a large deductible. The larger the deductible is, the lower your premiums will be. If you are a safe driver, you may find this to be a good option. If you are in an accident and it is the other driver who is at fault, it will be their insurance that pays for the damage. With a large deductible, you need only drive carefully and watch where you park your car.

Drop Your Collision Insurance

If your car is paid for and it does not have the value it once had, it may not be worth keeping this type of insurance. The premiums are much higher, and you may end up paying for the replacement cost of the car quickly because you are essentially over insured for the vehicle you are driving.

Final Thots

The above items are a few of the ways you can save money on your car insurance, but one of the most important aspects of saving money is to get several auto insurance quotes. Comparing what each insurance company has to offer is a great way of reducing your policy costs.

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