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11 Legitimate Ways to Lower Your Car Insurance Rate

Skip the gimmicks. These are the discounts and adjustments that actually move your premium, and the ones that are not worth chasing.

Written by

Dana Whitmore

Senior Insurance Editor · Licensed P&C Agent

Reviewed by

Marcus Reyes

Coverage Analyst · CPCU

Last updated June 2024

9 min read

Compare before you renew — every time

Insurers refile their rates regularly, and a price that was competitive at signup quietly stops being competitive. Comparing quotes at each renewal is the single most effective lever most drivers have, and it costs nothing but a couple of minutes.

Raise your deductible — deliberately

Moving from a $250 to a $1,000 deductible can meaningfully lower your collision and comprehensive premium. Only do it if you could actually cover that deductible from savings after a claim.

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Find out what you could be paying

Comparing quotes is the single most reliable way to lower a rate. It is free and takes two minutes.

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Ask for the discounts you are not getting

Multi-policy, safe-driver, low-mileage, good-student, paid-in-full, and telematics discounts are rarely applied automatically. You generally get them by asking. Bundling your auto and home or renters policy is often the largest single discount available.

What is not worth chasing

Cancelling coverage you actually need to save a few dollars a month is a false economy. So is switching carriers so often that you lose loyalty and claims-free credits. Chase value, not the lowest possible number.

Sources

  1. 1.Consumer Financial Protection Bureau — Auto loans and insurance
  2. 2.Insurance Information Institute — Nine ways to lower your auto insurance costs

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See what you could be paying instead

Rates change constantly. Comparing takes about two minutes and never affects your credit.

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