Owning a vehicle of your own has several benefits, the foremost of them being fast and easy commuting. Whether you want to get to work on time, drop your kids off to school or commute to the city centre to watch a play, you do not have to depend on anyone or anything but yourself, if you own a car. However, hassle free commuting comes at a heavy price. Your monthly bills would witness a rising curve due to fuel charges, maintenance, monthly loan repayment (if you have taken any), and last but not least your auto insurance. We live in a time where cautionary measure for disaster recovery is a must. But protecting your vehicle from theft, accidental damage and other unforeseen disasters through a good auto insurance scheme could be an expensive affair. But here is the good news, it’s definitely possible to save a lot on auto insurance if you are aware of some simple, cost saving tips and here they are for your benefit:

 Pay a high deductible and reduce your premiums:

Deductible is your part of the contribution for your insurance claim. For instance, if your insurance claim is $2000 and if you fix your deductible at $700, the insurance company would pay you the $1300(depending on the nature of your insurance scheme) in case of an accident or theft. Your premium is calculated on this $1300. So, if you are able to increase your deductible, your premium would automatically come down. However, this tip is recommended only for those who have enough money saved up to pay a considerable amount as deductible.

 Purchase your home insurance and auto insurance from the same company:

If you already have a home insurance, it’s highly recommended to purchase your auto insurance from the same company. Since you have already built a trustworthy relationship with your home insurance provider, chances are high for obtaining a discount on your auto insurance. Sometimes it’s possible to get discounts on both your home insurance and auto insurance. It’s believed that it’s possible to save at least up to 10% by following this tip.

 Inquire about various discounts from time to time:

Sometimes just a call to your insurance provider inquiring about discounts could make a huge difference. Whether you are purchasing a new auto insurance policy or renewing your old one, do not hesitate to ask your provider about several discounts like loyalty discounts, combination discounts, group discounts, retirement discounts, safety discounts, defensive-driving discounts etc.

 Try to maintain a spotless driving record:

Nothing increases your auto insurance cost like frequent accidents or violations. Black marks on your license due to traffic violations definitely contribute towards a rise in insurance costs. And it is no secret that higher your risk profile due to accidents, greater is the premium you’d have to pay. This holds good for both your current and potential insurance providers. Hence, the best thing to do is exercise caution and vigilance while driving.

 Apart from giving a serious thought about the above mentioned tips, shop around a lot before zeroing in on one scheme and maintain a good credit score. This way, you would never have to worry about paying a hefty sum for auto insurance.