- 1). Explore premium options from all discount insurance carriers at least once a year. Premium options change over time.
- 2). Explore discounts available from insurers who provide multiple lines of insurance coverage. Many carriers provide discounts for customers who purchase both homeowner’s and automobile policies from a single carrier.
- 3). Determine your vehicle’s fair market value, which is the most an insurance company will pay if the vehicle is damaged in an accident.
- 4). Drop all collision and comprehensive coverage, for vehicles with low fair market values. The potential benefit cannot justify the required premium.
- 5). Drop any miscellaneous coverages that are provided by other protection sources. For example, AAA members have no need for emergency towing coverage since this is a primary benefit provided by AAA. Many automobile manufacturers also provide emergency roadside assistance during the first several years of vehicle ownership.
- 6). Complete a state-approved defensive driving class. This option is particularly helpful for lowering insurance rates of drivers who have one or more points on an existing driving record.
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