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Saving Money on Auto Insurance

The cost of insurance can really add up but the cost of not having it can be even more expensive. This is a guide about saving money on auto insurance.
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By 6 found this helpful
December 1, 2009

I recently retired and not liking driving that much, I decided to apply for the lowest rate of insurance I could find. By qualifying for the low mileage discount (which is the largest one of all), I saved over 50% of my truck's insurance. You can budget your car's mileage, by simply keeping track of it. I keep a log.

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On the first of the month, I record my mileage. I know I have to keep it under 235 miles a month to maintain my discount, so I watch it and don't let it get out of range. That means some walking, some bicycle riding, or just saying no to more driving near the end of the month. Pays off in lower premiums and health benefits.

By creativeman from Chatsworth CA

Comment Was this helpful? 6

By 2 found this helpful
September 9, 2011

When my teenage son took Driver's Ed in high school, we went to our car insurance agent to get my son added to the insurance policy. There I learned that we did not have to pay a dime until my son gets a driver's license. We have insurance coverage as long as my son has a valid driving permit.

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Bingo! The driving permit through the high school is good for 2 years. This means a savings of 4 terms of 6 months at about $280.00 each, totaling over $1,000.00 in a couple of years. What's more important, this gives us the opportunity to have our son practice a lot more and get plenty of experience behind the wheel with parental supervision before he's on his own and/or with his friends.

By SSilva from Chicago, IL

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March 4, 20050 found this helpful

Make sure you are getting all of the discounts you are entitled to, on your auto insurance. Most companies give discounts for anti-lock brakes, daytime running lights, airbags, etc. Some discounts you may not be aware of: annual mileage of less than a certain number (often 8,000 per year), even teenage drivers who maintain honor roll grades!

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Of course, if you install an alarm system on your car, that will get you a discount. Call and ask -- some insurance companies seem to have an unspoken policy of not mentioning these discounts unless you specifically ask about them.

By Becki in Indiana

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June 6, 20050 found this helpful

We have found that having a teenage driver was a big drain on our insurance premiums. One thing that has helped a lot, though, is that we have her restricted to driving the oldest car. That has saved us some money on insurance and I highly recommend it!

By Robin

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March 19, 20050 found this helpful

Get 3 or 4 quotes from different insurance companies. Write down as much information as possible about each insurer. If the agent or representative is not willing to answer your questions, it's probably not a good company to give your business. Don't buy from the first insurance company you call!

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March 4, 20050 found this helpful

Vehicle insurance is so expensive, especially if you have teenagers! One of the things many people seem to forget is that most companies will give you a discount on your policy if your child gets good grades. This even goes for children in college that are still on your insurance. It's worth checking into!

We homeschool, but I keep track of my children's grades and the insurance company will even honor the grades my children get, even though they are homeschooled!

By Robin

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Questions

Ask a QuestionHere are the questions asked by community members. Read on to see the answers provided by the ThriftyFun community or ask a new question.

By 0 found this helpful
January 27, 2011

I'm buying my wife a new car for her birthday next week. I thought this might be a good time to review our coverages and shop for competitive rates again. I've already checked with my home insurance company, and I see no benefit combining my home and auto insurance with them. Any suggestions?

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By krisortis from Chicago, IL

Answers

January 27, 20110 found this helpful

Most ins. companies will give you a multi-policy discount as well as multi-car discounts Ask for that if you haven't been given it.

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January 27, 20110 found this helpful

The auto and home insurance ads on TV and the radio all promote saving money either with their multi policies or with just auto insurance. You may save some dollars on the insurance but you will pay when your car has an accident. The insurance company will have you take the car to a shop of their choice because the shop will work for less cost to the insurance company and the parts will not be original manufacturers product. So if you have a Ford and need a new hood the item will come from a foreign manufacturer and not Ford. Plus you will be unhappy with the repairs. I used to be in the business so I am aware of the many pitfalls. Visit a few body shops some time and get their reaction. A good friend of mine still has his shop and he cringes when adjusters from 2 of the most promoted insurance companies on TV show up at his shop.

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January 27, 20110 found this helpful

Depending on what company you go to, but ours gives us a 25% discount by having a house, and more than 2 cars on it. We have between 5-7, if you want to count the motorcycles. A fleet policy. We just added the over 55 class discount and that is another 20% off as we both completed the classes.

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Anonymous
January 27, 20110 found this helpful

Maybe it's simply that I have a wonderful local State Farm Insurance insurance agent but he has definitely done right by me for many years for many different circumstances.

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January 28, 20110 found this helpful

All I know is that a drunk driver was passed out at the wheel and hit me head on. He wasn't hurt because he was passed out. Broke my bake in two places. He had State Farm and They got him off without even paying a dime for my car or hospital. He was arrested and put in jail, State Farm got the surliest, meanest, and crookedest lawyer to pay the judge off. I would not give State Farm one dime of my money!

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January 28, 20110 found this helpful

Check AAA and AARP for rates and remember about the warnings people have posted!

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Anonymous
January 28, 20110 found this helpful

Toebeanie, I feel so very badly for you! Why didn't your insurance company's lawyer fight for you in court when that's what they are supposed to do for their clients? I am even in a no fault state but State Farm took care of me when someone hit my car and then went after the other driver. That was a long time ago so maybe the laws/rules have changed? I am so sorry you were not represented well. :-(

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January 28, 20110 found this helpful

Thank you, Deeli, I appreciate your info. However the face and attitude of that lawyer will be stamped on my brain for the rest of my life. He was just plain cruel and when he saw the jury was leaning toward me, he asked to go into the judges chambers and I could hear some of what was said. Yes, I am sure they take care of their clients, so if one is a client, that is good. But the extent they went to with this guy was just plain demeaning, like I did not deserve anything and I was totally an innocent driver, just had left three kids at our church camp. (Thank goodness.) Thank you, though.

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By 0 found this helpful
July 24, 2009

Who has found the cheapest auto insurance?

By T from Orange County, CA

Answers

July 25, 20090 found this helpful

I have both my auto and renter's insurance with Nationwide, have been with them for several years and am very satisfied with their services.

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July 29, 20090 found this helpful

Even if all of us told you a single company was great, the chance of it being a good pick for you would be slim. The cost of auto insurance differs between companies, the regions of the country you live in, the city you live in, your sex, your age, your past driving history, the make and model of your vehicle, your deductible, whether you have homeowners insurance with the same company, the type and amount of coverage you choose, etc. This is one time when it's best to call around or check the internet for a good price. And remember, the amount you pay has nothing to do with how the company will treat you or what kind of medical care they'll pay for if you ever get in an accident. Personally, I think insurance is kind of like a crap-shoot--you research what you think is the best, pay the premiums, and hope you never have to make a claim because you don't really know how they will pay. Good luck.

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Anonymous
July 29, 20090 found this helpful

Agree with susanmajp!
I am female, 55, no accidents ever that were my fault, no tickets since 1982, own a 2000 Hyundai Elantra Wagon, live in a small town in Washington State, on average don't drive more than 50 miles a month, have full coverage and I pay $50.00 a month but other company's quoted as much as $100.00 more a month than that :-o

Just shop around and ask each agent lots of questions and detailed quotes in writing from each before deciding ;-)

Oh! And each and every time your policy comes up for renewal shop again!

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July 29, 20090 found this helpful

If you belong to Sam's Club or Costco - check out their benefits to members - we found a great deal for our family, including 2 teenage boys, through Sam's and then added our homeowners and got another discount through the same company! Worth a try - just have your declaration page in hand when you call so you can compare "apples to apples" - then, if you want to change anything you can do that afterwards.

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July 29, 20090 found this helpful

Hi, I was given this phone number for inexpensive auto insurance if you earn less than $26,000 a year.
I am not sure if it is just for California, or for other states as well. 866-620-8861 Loretta

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August 2, 20090 found this helpful

We switched from Farmers to Progressive and save $50.00 per month.

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November 17, 20090 found this helpful

It's tricky to find real auto insurance price comparisons on the internet because many of the web sites are what they call "lead generation" sites in the insurance business. They tend to collect your information, and then have agents call or email you. Some of them within an hour of inputting your info, but they keep coming for a few days or a week.
You can get live price quotes from some of the bigger companies like Geico, esurance, etc.

This site, if you enter your zip code, gives a list of sites that have online quotes. You still have to go to each one individually, but just note the price quote on a piece of paper ( or in windows notepad ), and then make a choice.
http://billeate  ompare/insurance

Or, try of the bigger sites directly: http://geico.com/
http://esurance.com/

And, I'm sure that an insurance agent might chime in and say, "You know, I can do that for you" :)

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Anonymous
June 7, 20160 found this helpful

I have been with the same insurance broker for about ten years. I have recently had a renewal quote and it's over £50 more than last year. I phoned and told them that it's too much. (Using a free phone number). I was on the phone for half an hour but they did a bit of checking and got it down almost a half of what it was last year. Before searching the internet and being inundated with quotes try this way first. You never know.

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