How to Drive Down Your Rates

Shop around and compare prices. This is the simplest way to save on your rates.

Increase the deductible on your policy. The deductible is the part of the loss you must pay when you make a claim. When the deductible goes up, the premium goes down.

Drive less. Consider carpooling or using public transit once a week to reduce how often you use your car. Driving less could save you money.

Drop collision coverage on older vehicles. Don’t worry, you’ll still be protected for your legal liability if you get into a collision that was your fault. By law, insurance will cover the damage to the other person's car.

Drive safely and keep a clean record. This is one of the most important things you can do to keep your rates low.

Install a theft-deterrent system. This is an easy way to save. Ask your insurance representative for recommendations and possible discounts.

Track your good driving habits. Installing a usage-based insurance app or device (UBI) may help you save money by personalizing your premiums. A UBI is also known as a ‘telematics’ solution – ask your insurer if they offer a telematics or UBI product.

Compare vehicle premiums before buying. A car’s make, model and year of manufacture can have an impact on your insurance rates.

Ask about discounts and bundle your policies. Consider bundling your car and home insurance policies to save. Ask your insurer about a “multi-policy discount” or “loyalty program.”

Talk to your insurance representative. Your insurance representative is on your side. Ask them about options, limits, deductibles, loyalty programs and coverages.