How to minimize insurance costs

What most people don't know is that they are probably already paying too much for their car insurance. It's too easy just to stick with the same company you've been with for years, even though rates are lower elsewhere. Rates change frequently. One company can have the best rates one year, another the next year.

So, if you intend to lease and the insurance coverage requirements are higher than you currently have, you can nearly always get the higher level of insurance at about the same rate as you are currently paying by simply investing a little time shopping by comparing quotes from a few other insurance companies, asking for discounts that you already qualify for, and adjusting your coverage.

Insurance companies offer a variety of discounts based on driving records, other policies with the same company, having multiple cars, safety equipment, and such. Of course, vehicle make/model, repair costs, claim history, driving record, and driver age also affect insurance costs. Even your credit score can affect your insurance rates with many companies.

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The vehicle you buy or lease can have a huge effect on your insurance rates, regardless of which company you choose. A Honda Accord will cost you less to insure than a Cadillac Escalade, not so much because the Honda is a less expensive vehicle, but because the Escalade is one of the top most-stolen vehicles in the country.

Is it possible to find dirt-cheap car insurance? No, but you can mimimize what you pay by shopping smart and asking for discounts. Rates between different insurance companies vary greatly.

Here are some of the possible discounts you should ask about. Be aware that all auto insurance companies may not offer all of these discounts.

[ ] $500 deductible
[ ] $1,000 deductible
[ ] More than one car
[ ] No accidents in 3 Years
[ ] No moving violations in 3 years
[ ] Driver training courses
[ ] Defensive driving courses
[ ] Anti-theft devices
[ ] Good credit score
[ ] Low annual mileage
[ ] Air bags
[ ] Anti-lock brakes
[ ] Traction and stability control systems
[ ] Daytime running lights
[ ] Student drivers with good grades
[ ] Auto and homeowners coverage with the same company
[ ] College students away from home
[ ] Long-time customer
[ ] Other discounts

The key to car insurance savings is not the number of discounts, but the final premium cost. A company that offers few discounts may still have lower overall prices.