Five Tips to Saving More Money on Car Insurance

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Shopping around for a better car insurance deal can save you a ton of money, but it's not the only way.

Even when you're happy with your current insurance company there five ways you can lower your premiums.

Ask About Discounts on Your Policy

Call up your current provider to make sure you're not skipping out on discounts you may already qualify for.

See if you can get:

• a non-smoker discount,
• a professional discount,
• a student discount,

If you've been a loyal customer, go ahead and ask about that discount as well.

You have nothing to lose by asking for a discount and plenty to gain.

Embrace Safety Features and Devices

Safety features, such as airbags, anti-lock brake systems, and anti-theft systems, can help you save money on your auto insurance.

If you bought a new car, you probably called to change your policy, but did you forget to mention all the new features it has? Again, a quick call can yield you more savings.

Don’t Buy Too Much Insurance

Although you should never skimp on insurance, it pays to really think about the type of coverage you need before purchasing a policy.

If you have a much older car, getting comprehensive coverage might not financial sense.

Raise Your Deductible

Raising your deductible will lower your monthly premiums.

If you have a car insurance policy in California, which on average have higher costs, you can save some significant money with this one change.

Of course, you will be on the hook for the deductible if something goes wrong so make sure your emergency fund is topped up.

Having lower premiums means you can then use that money saved for other goals such as contributing more to your 401(k) or IRA.

Check your credit score

Believe it or not, your credit score can have an effect on your insurance.

Reviewing your credit report for errors can be a huge help. Depending on what it is, an error could be lowering your credit score and in effect keeping you from getting a better rate on your insurance premiums.

While there isn’t any exact cut off for what is consider a bad score and a great score, you can get an idea based on your score compared to the average.

If it’s lower than average, then you may want to go ahead and work on raising your credit score.

Saving More on Car Insurance

Even if you're not someone who likes thinking about insurance, a yearly check-up can save you quite a bit of money.

I'd love to hear from you – do you have more tips on slashing the car insurance bill?