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A simple yet effective way to reduce the cost of your auto insurance is to shop around for insurance. Existing customers rarely get the best deals from the insurance companies, as their lowest possible prices are reserved for new customers.

When you compare car insurance, you can see how much you can save by switching. This will allow you cheaper car insurance quotes† Of course, when looking at auto insurance quotes, you need to make sure that you are comparable to comparable. The voluntary deductibles should be put on the same level and any extras you currently have should be included.

Increase your deductible

One of the ways in which you can lower your monthly premium is by opting for a higher voluntary deductible. As a rule of thumb, with a high deductible the premium is lower. Experiment with this by using an auto insurance comparison tool to see what the different deductibles yield in terms of monthly premiums. You should of course bear in mind that you must be able to pay the deductible that you set. If you have to submit a claim, you must be able to present this amount before the insurance pays out.

Get no-nonsense coverage

Before you add extras to your insurance policy, such as legal expenses insurance or the use of a replacement car, you should think about this carefully. Insurance companies are generally eager to tell you about the value of the extras, and they can come in handy, you don’t have to get them. If you include too many of these extras in your insurance, the costs will increase and you have to take that into account.

Be mindful of the distance you drive

Before you buy car insurance, think about how far you drive per year. You may be able to save money if you agree to a lower annual mileage limit compared to the last insurance taken out. This is a very useful tip if you have more than one car in your family. In these cases, one car will generally have more mileage than another and you may be able to reduce insurance costs for the car that drives less.

Do not pay by direct debit

Spreading the cost of your policy over the year may seem like the best solution, but you should consider paying the premium all at once. Paying each month will generally cost you more in the long run. Many insurance companies will charge you interest when you pay monthly, so check before you sign. If you need to spread the payments and the insurance company charges interest, consider paying with a 0% purchase credit card. When you do this, make sure to settle the balance in full before the end of the 0% period.

The other ways you can reduce the cost of driving

While fuel costs may get cheaper, it still costs about $50 to fill the tank in a standard family car. You can reduce fuel consumption and save money in several ways. One way is to make sure your tires are always properly inflated, especially if you’re on a long journey.

Also car manufacturers recommend checking the tire pressure every few weeks. If you feel this is too common, you should do it at least once a month. If you are going on a long journey, check the pressure before you go.

Another quick way to reduce fuel consumption is to remove excess weight from the car. Look at the trunk and footwell for anything that could increase the weight of the car. Driving slowly is another way to reduce fuel consumption, so take it easy on the accelerator and brakes. If you’re going to wait somewhere, like at the school gates, turn off the engine instead of idling.

Fuel costs also vary depending on where you refuel. This means you’ll need to shop around to make sure you’re saving at the pump.

Consider a car stock

One of the more radical ways to save money would be to have a shared car. This could be something that is a permanent arrangement with someone on a free schedule or something that is done for specific trips, such as the commute or college career.

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