Anti-Theft Devices:
While most new cars come with some sort of theft protection, not all
do. If you're buying a new car, be certain to add LoJack, an alarm, or
an engine immobilizer to your security package. If your existing car
does not have an anti-theft device, tracking systems, alarms, and "kill
switches" for the engine can all be added after-market, often for less
than a hundred dollars.
Annual Policies:
While the term for most auto insurance is six months, you may be able
to get a year-long policy. The longer commitment term nets you a
smaller payment over all.
Join the Group:
You may be eligible for a group discount if you work for a major
corporation, or belong to a trade union. While group discounts may not
be large, they are generally applied in tandem with other discounts,
for a bigger benefit to you.
Say Yes to EFT:
Electronic Funds Transfer isn't just a fast and secure way to get your
check to the insurance company on time, it can save you money. Many
insurance companies wave processing fees for customers who pay
electronically, especially if they put their monthly installments on an
automatic payment plan. While you're at it, see if your insurance
company can email your statements instead of mailing them. Not only
will you reduce the amount of paper floating around the world, but it
could save you up to $5 a month. The digital age is good for you and
the environment.
Mileage Matters:
If you don't do a lot of driving - only from home to work and maybe to
the grocery store and back - keep a close eye on your annual mileage.
Most insurance companies give a discount for low-mileage vehicles, so
if you can keep your mileage under abut 14,000 miles per year you can
keep a bit more cash in your pocket.
With Two It's Better:
Just as having your auto and home policies with one company can save
you money, so, too, can having both your cars on the same policy. The
multiple auto discount is a fairly standard offering, industry-wide.
For that matter, if you don't have a life insurance policy, consider
getting one from the same company who holds your auto and home
insurance - again, multiple policies equals multiple savings.
As you can see, getting cheap auto insurance doesn't mean settling for
less coverage or going with a substandard insurance company. It simply
means being smart about the way you choose your insurance. One final
tip for getting as low a premium as possible: comparison shop.
