Saving Money

Auto insurance can be expensive—especially for teen drivers—but there are some things you can do to cut down your costs.

Keep a clean driving record.

Your driving record will have the largest impact on your insurance premium. If you have at-fault accidents or moving violations, such as speeding tickets, your premium will go up. Learn more about how safe driving pays off here.

Take advantage of discounts.

Ask your insurance agent or company if you are eligible for any discounts. Some companies offer discounts if you maintain a certain grade-point-average, take a driver’s education course or if your vehicle is equipped with anti-lock brakes, air bags or other safety equipment.

Shop around.

Prices may vary greatly from company to company. Make sure you’re comparing identical coverages when you’re shopping around, and make sure you’re dealing with licensed agents and companies. Learn more in our Consumer’s Guide to Shopping for Insurance.

Consider increasing your deductible.

Comprehensive and collision coverages include a deductible—a portion of a claim that you are responsible for paying out of your own pocket. You can lower your premium by increasing your deductibles.