Buy a combo insurance product, since it’s cheaper for insurance companies selling more to one customer, so insurers often cut premiums up to 15 percent if you link auto and homeowners’ policies and save money.
Minimize your claims.
Try to ignore the minimal damages caused to avoid frequent claims. Did you know frequent claims are red flags for most of the insurance companies? Most of the insurers won’t renew policyholders with more than two claims in three years. So try to carry more of the risk yourself by paying for repairs costing under $1,000 out of your own pocket.
Increase your deductible.
Given the likelihood of filing a claim, you might come out ahead with the higher deductible. The average driver files a collision claim once every three years, and a comprehensive claim once every 10 years. Increasing a collision deductible on your auto policy from $200 to $500 can save up to 30 percent annually.
Drive safely & get discounts.
Completing a defensive driving course can also qualify you for a discount. Try to maintain a clean driving record for at least 3 years to keeps your premiums low.
Choose your car carefully.
Buy Cars that cost a lot to repair, or that are popular with thieves, can cost more to insure. The National Insurance Crime Bureau has a list of the most frequently stolen cars.
Maintain a good credit score
Consider obtaining your credit report from all three credit reporting services. Insurers have access to all sorts of personal information, including your motor vehicle record, credit record, and your history of claims by other insurers.
Keep all records handy:
- After a car accident, take down the names and license numbers of all drivers involved
- When filing a claim, remember your best protection is to maintain good records.
- Identify any witnesses & keep an eye on them.
- Record your version of the accident & keep it intact
- Take photos of the accident
- Get the police report.