Gianetta Palmer is a writer, copywriter, and essayist. Her work has appeared in EverydayHealth.com, Healthline, and The Dyrt Magazine. She is the author of Scrunchie-Fried and writes a lot about car insurance in her spare time.

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florid...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Oct 2, 2020

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Every driver should have an active auto insurance policy well before they get behind the wheel of a vehicle, but the premiums on these plans can be overwhelming.

Here are a few easy steps you can take to keep your premiums to an absolute minimum.

Alter your Deductible

When an insurance provider is determining your monthly premiums, one of the biggest variables they will take into consideration is your deductible.

Drivers who opt for larger deductibles tend to have much more affordable premiums.

If you are a safe driver with a good record, then you might want to call up your insurance provider and ask to have your deductible raised slightly.

This is also a good option for drivers who have saved up quite a bit of money for emergency expenses.

Affects of Altering (Raising) Your Deductible

This graphs shows what ways to lower your car insurance bill really fast.
Note: As illustrated by the graph, raising your deductible is the quickest way to lower your monthly car insurance bill. Discounts, second and bundling a policy, third. The best method is to use a combination of all to lower your premium. Besides having minimum coverage for your vehicle, this is the best option to lower monthly rates.

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Keep Your Driving Record Clean

In most cases, an accident will be placed on your record if it is determined that you are at fault.

Even if no other cars were involved in your accident and no one was injured, you could face huge increases to your insurance premiums.

Professionals know that those who are involved in a major accident should consider contacting an attorney to keep the accident off their record.

You might also be able to take driving school to have the points reduced or removed entirely.

10 Ways To Lower Your Car Insurance Bill

Coverage Change
Clean driving record
Ask for higher deductibles
Reduce coverage on older cars
Bundle coverage
Good credit
Low mileage discounts
Other discounts
Shop around
Before buying compare coverage and price
Group plan discounts
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Make Your Car Safer

Not only do insurance policies cover collisions, but they might also cover other expenses such as vandalism, theft, and natural disasters.

That is why drivers who are able to keep their cars safe and secure often have much lower premiums.

Simple upgrades such as GPS tracking devices, alarm systems, and kill switches could potentially reduce your premiums.

Drivers who keep their vehicles parked in safe locations such as garages tend to have much lower rates as well.

Vehicles Which are the Cheapest and Safest to Insure

VehiclePriceAvg. Premium
Toyota Rav4$24,350$1,261
Honda Accord$22,205$1,267
Honda CR-V $23,845$1,272
Subaru Forester$22,395$1,291
Hyundai Sonata $21,300$1,418
Honda Civic$19,050$1,421
Toyota Camry $23,070$1,459
Toyota Prius $24,600$1,463
Acura RDX $35,370$1,479
Nissan Sentra$16,780$1,498
Lexus RX$44,700$1,511
Audi Q5 $40,900$1,563
Acura MDX $41,165$1,572
Ford Fusion $22,110$1,272
Lexus ES 350 $41,650$1,723
Nissan Rogue $23,290$1,463
Kia Sedona$26,400$1,469
Chevrolet Equinox$22,600$1,572
Mercedes-Benz E-Class$49,650$1,786
Ford F-150$30,600$1,468
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Bundle Your Insurance

This graph shows which States have the highest discount when bundling your insurance policy.

Many of the leading insurance providers, such as Allstate, offer different types of coverage to private parties and businesses.

Those who have multiple forms of insurance such as life insurance and renters insurance should speak with their provider about bundling their policies.

By bundling your coverage, you will have much more leverage when you are negotiating your premiums and deductibles.

Insurance providers are generally very excited to bundle policies because they are able to retain current customers while increasing their profits.

Lowest Rate Drop by State by Bundling a Policy

Click on any link to find State Minimum Coverage.

StatePercentage Drop
Florida7.9%
New York10.3%
West Virginia10.9%
New Jersey12.3%
Rhode Island12.5%
Vermont12.9%
Connecticut14.2%
Maryland14.9%
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Conclusion

Just because your car insurance is a fixed monthly expense doesn’t mean it should be an ongoing burden that chips away at your hard-earned savings.

With a few upgrades and a little negotiating, you might be able to significantly reduce your insurance premiums.