Just because you have car insurance doesn't mean you the best policy for your specific needs. Consider switching during these timeframes to save money.

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When you first start to compare car insurance rates as a new driver, you might not know exactly what you’re looking for. This is why so many drivers end up with the same insurance provider as their parents.

Over time, though, you may begin to realize that your insurance provider isn’t offering you the best options or rates. While many people simply let their policy renew from year to year without much thought, you may eventually reach a point where you decide you want to switch providers.

When should you switch, though? Does the timing matter? Are there certain circumstances in which switching car insurance companies is advisable? Here are a few factors to consider.

When it’s Time to Renew

Whether you have personal or commercial vehicle insurance, your policy generally has an annual renewal. If you’re thinking of renewing your policy, you might want to do so when your renewal rolls around. The main reason for this is because it’s the easiest time to cancel your old policy.

There’s nothing to stop you if you want to compare car insurance quotes and switch providers mid-policy. You’ll almost certainly receive a partial refund from your original provider. However, you may face penalties or administrative fees of some kind for early cancellation.

When Rates Go Up

If your car insurance rates go up for any reason, it’s a good idea to reassess and determine if switching to a new insurance provider is wise, especially if you’re on a tight budget. There are laws in place that stop insurance providers from arbitrarily hiking your rates or dropping your coverage (although laws may vary by state).

There are also circumstances in which your actions (or accidents) can justify increases. Either way, you simply might not have the wiggle room in your budget to afford this additional expense, in which case it’s definitely time to see what other providers are willing to offer.

When Circumstances Change

There are several instances in which you may wish to look for new auto insurance options. If your household income changes due to job loss, you may have to give up your pricy coverage in favor of less costly insurance.

Once you pay off your auto loan, you have the option to downgrade from full coverage insurance to a liability policy, at which time you may want to consider other providers. In some cases, your insurance provider will accommodate you with a new policy that suits your needs, but you should also check out other options.

Comparison Shop

When you start seeking auto or motorcycle insurance quotes from other providers, don’t forget to include your current provider. Often, if you come back to your provider with some leverage (i.e. better offers from competitors) the company will put together a competitive bid to retain your business.

Why should you pay full price for your car insurance if you only drive a few thousand miles a year? Consider usage based insurance instead to save money.

Posted by & filed under Auto Insurance.

Most auto insurance providers follow a relatively traditional format for determining your insurance rates that also applies to motorcycle, boat, and home insurance quotes. They take into consideration pertinent factors like the type of car you drive, the value of your car, safety features, your age/experience, your driving record, and so on.

Then they plug the data into a formula along with the policy features and deductible you prefer to determine your relative risk factors and assign a price for coverage. However, this isn’t the only method for determining car, motorcycle or yacht insurance rates.

In some cases you can also opt for usage-based insurance. What is it, though, and what are the potential benefits and drawbacks of this type of auto insurance? Here are a few things you need to know before you pick your policy.

What is Usage-Based Insurance?

Put simply, this type of insurance policy bases your rates for coverage on your vehicle usage. It wouldn’t necessarily be applicable to, say, commercial liability insurance, but it could certainly be used as a means of providing cheap motorcycle insurance.

This type of policy is sometimes also referred to as a pay-as-you-drive (PAYD) policy because the rate you pay is based on your mileage. In other words, the more you drive, the more you will be charged for insurance. Mileage is tracked by odometer or devices installed in the vehicle to track both miles and driving behavior.

This is a relatively new format for setting insurance premiums, but it’s based on the assumption that those who drive more are at increased risk for accident. However, both additional miles and driving habits could play a role in rates. If you often exceed the speed limit, your rates could go up, as well.

What are the Benefits and Drawbacks?

The main benefit to this type of insurance, as you may have guessed, is that you could end up paying far less for coverage if you rarely drive. Does it seem fair that you get charged as much as a person who drives thirty miles to work each day when you work at home? While that person racks up over 15,000 miles a year driving to and from work, you will accumulate zero commuter miles.

The downside, then, isn’t hard to determine. If you end up driving more than you anticipated or your driving is deemed risky, you could end up paying more. If you’re a safe driver and your mileage is consistently low, a usage-based car insurance policy could be the most cost-effective option, but you need to be realistic about your driving habits to make it worthwhile.

Prevent accidents and injury while staying safe when operating a motorcycle with these tips for riders just hopping on their first bike.

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Most people are well aware of the fact that riding a motorcycle can be dangerous. Heck, driving a car can be hazardous to your health, but at least there’s a frame and a body to take the brunt of a collision, not to mention a seatbelt and other safety features.

The point is that as a new rider you are most at risk for accident and injury due to your inexperience. So here are a few safety tips that should help to ensure many years of enjoyment when you take up motorcycle riding.

Know the Rules

Do you need to wear a helmet when riding your motorcycle? Can you wear ear plugs or Bluetooth devices when operating your bike? Do you have to go through safety training to get a motorcycle endorsement on your license?

Are you required to turn on your headlight during daytime driving? Are you allowed to split lanes? Do speed limits differ for cars and motorcycles? What are the rules related to passenger seats and footrests?

Before you hop on your bike and hit the blacktop, you need to know the rules for operating a motorcycle in your state. This can not only help you to avoid costly tickets, but it can ensure that you behave in a safe and responsible manner on the road.

Start Small

Before you start checking out yacht insurance rates, you might want to learn to drive a speedboat. The same basic idea applies to owning and operating a motorcycle.

Bikes are not like cars, where a sturdy suspension, power steering, and brake fluid lend you control over the massive weight you’re moving down the road at a break-neck pace. With a motorcycle, your body weight and balance provide the control, and the bike is almost always going to be heavier than you.

If you’re just starting out on your journey toward mastering the motorcycle, it’s best to start small, and you’ll hear this recommendation from any experienced rider you talk to. Get comfortable handling a dirt bike, for example.

Learn to maneuver and even lay down this smaller machine before you consider a much heavier sport bike or cruiser. You’ll risk a lot less damage and expense as you work your way up to managing a larger vehicle.

Be Aware

Driving a motorcycle is a unique experience, unlike driving a car, buying a home, or running a company – this is why motorcycle insurance is different than commercial liability insurance, for example. The point is that you’re going to have to develop a new skillset if you want to remain safe.

Awareness is an essential element of safety when operating a motorcycle on the road. Not only are you surrounded by much larger vehicles that will likely have a hard time seeing you, but road conditions and hazards can have a greater impact on your driving experience.

You must therefore maintain a heightened level of awareness at all times. What will you do if you’re splitting lanes and a vehicle unexpectedly switches lanes ahead of you because the driver didn’t see you in a blind spot? If you hesitate you could get crushed.

You also need to be hypervigilant about road hazards like oil slicks that can cause you to slide or debris that could get kicked out from under the car in front of you or lead to a wipeout if you hit it head-on. Weather can also play a role so you need to know how to drive in unsafe conditions like rain or snow (or perhaps just opt for a car or public transit during inclement weather).

Spring for Safety Features

If you want to remain safe and save some money at the same time, certain safety features are going to help you obtain cheap motorcycle insurance. One great feature to consider is ABS, and many bikes now have the option to include an anti-lock brake system.

Safety gear is also important, so even if your state doesn’t have laws that require you to wear a helmet, you probably want to do so anyway. A trip the hospital (or morgue) to visit motorcycle accident victims that sustained head injuries should cure you of the delusion that you can walk away from an accident without the protection a helmet provides.

Practice Proper Maintenance

Proper maintenance is part of protecting any investment. If you’re going to bother considering home insurance quotes, you’re probably planning to keep your home in good condition, and the same is true of your motorcycle.

There’s a more important reason to maintain your bike, though: your life could depend on it. With proper maintenance you have the best chance to avoid machine failures that could put you in harm’s way.

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There’s nothing quite like the personal freedom of hopping on your motorcycle and hitting the open road. In some states you can even still feel the breeze in your hair – many still don’t have universal helmet laws. Of course, this isn’t a very safe way to ride, especially at high speeds.

Plus, a failure to wear a helmet can seriously impact your insurance costs. Riding a motorcycle is inherently dangerous (what could be dangerous about rocketing down the road at 80 mph without a protective framework?). So it’s no surprise that the cost of insurance can get quite steep.

That said, risks can always be mitigated with proper precautions and protections in place. If you love the convenience, fuel economy, and fun associated with riding a motorcycle, there are definitely ways to cut insurance costs. Here are a few that might work for you.

1. Take a Safety Training Course

This is perhaps the best way to keep your motorcycle insurance rates low. Not only do most insurance providers offer a discount to members that participate in such programs, but the training you receive can help you to understand the potential hazards of failing to follow the rules of the road, as well as give you the knowledge and skills to avoid accidents.

Considering the potential costs associated with motorcycle accidents (increased insurance rates, possible fines, damages to your bike, medical bills, and perhaps even your life), it’s wise to take a training course. You can stay safe, avoid having to get new motorcycle insurance quotes, and possibly even save a life.

2. Trade on a Clean Record

Just as a spotless driving record can help you to nab the best premiums and benefits when you compare car insurance rates, it can give you some leverage when you’re trying to reduce the cost for motorcycle insurance. Not every provider will offer discounts for clean driving records, but many are beginning to adopt the policy as a way to incentivize safer driving habits.

Even better, a history free of tickets and accidents related to driving an automobile could be enough to prove your level of responsibility when you’re looking to decrease the costs of motorcycle insurance.

3. Choose the Right Bike

Did you know that car insurance rates are partially based on the value of the car you drive? There are a lot of other factors involved, but you could see why an insurance provider would charge more for a Tesla than a Honda Civic, just for example, since the payout should the former be involved in an accident will be much higher.

The same basic principle applies to your motorcycle. If you’re looking at a $20,000 Ducati sport bike, for example, it’s going to cost more to insure than your average Suzuki that comes in at less than half the price. It’s simple economics.

4. Tailor Your Policy

When you compare car insurance quotes, you likely ask about coverage, premiums, deductibles, and more. You’ll also do this for motorcycle insurance, but it’s important to make sure you don’t fall into common traps.

When you purchase motorcycle insurance, you not only have the opportunity to adjust your deductible, but you should also make sure you tailor your policy to your needs. With a car, most people have to take out an auto loan and pay for full coverage insurance until the loan is paid off.

Many buyers can afford to purchase a motorcycle outright and therefore may not need the same level of insurance. Consider this before you accept the first policy offered. Don’t forget to ask about applicable discounts, as well.

5. Bundle Policies

One great way to save on all of your insurance policies, motorcycle included, is by bundling multiple policies through one insurance provider. Whether you own a home, you already have personal or commercial vehicle insurance, or you’re interested in setting up a life insurance policy along with your motorcycle insurance (not a bad idea considering how some people drive on the freeway), you can save all around through bundling.

You can start by talking to any insurance providers you already have policies with to see what they’re willing to offer in the way of bundling, but don’t hesitate to comparison shop. New providers might go the extra mile to secure your business.

As with every other product you'll need to buy for your business, the liability insurance policy you choose should meet your exact needs and requirements.

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To be fair, not even clothing is really one-size-fits-all, which is why you may have started to notice labels on apparel that now read “One Size Fits Most”. Just like people, businesses come in many shapes and sizes. So it’s no surprise that businesses have vastly different needs when it comes to insurance policies.

Whereas many businesses might need to compare car insurance rates for company vehicles, there are probably some that find themselves seeking helicopter, jet, or yacht insurance rates. It all depends on the needs of the company.

To assume that all business liability policies will work equally well for every company is pure folly. You need to devote some time and effort to understanding the different types of liability policies that exist, just for starters, and then you need to find out how to negotiate for the policy that best suits your business.

Life would certainly be easier if one size worked for everyone. Since it doesn’t, though, you want the size that’s right for your business. Here are a few reasons why you cannot afford to buy into the one-size-fits-all mentality when it comes to liability insurance.

Different Types of Liability Insurance

Unlike worker’s compensation, disability, and unemployment insurance, liability insurance for your business is not legally mandated. However, it is irresponsible to operate a business without at least a modicum of liability coverage. Here are the different types to consider.

* General Liability. Liability insurance is designed to protect your company against claims and lawsuits related to accidents, injuries, illnesses, negligence, and so on. Whether you’re being sued for slander, property damage, or medical bills, just for example, a general liability policy will cover the costs for defense and judgments so that you don’t have to pay these expenses out-of-pocket.

* Product Liability. This type of liability insurance is particular to companies that manufacture goods for commercial use or public consumption. If you produce and sell goods, product liability insurance protects you from claims and lawsuits resulting from faulty or defective goods and any harm that results from their distribution and/or sale.

* Professional Liability. The final type of liability insurance is geared more toward businesses that offer services, as opposed to goods. It protects against claims or lawsuits related to errors, omissions, negligence, malpractice, and so on.

Legal Considerations

Businesses are beholden to both federal and state laws, and in some cases, even municipal laws or codes. The liability issues you face could vary enormously from place to place.

Do you really want to pay for the same coverage as someone in another region when your needs might be totally different? It’s best to understand your legal obligations before you purchase a commercial liability insurance policy, or any other type of insurance, for that matter.

Not Every Company Needs the Same Coverage

As a homeowner, you might need more insurance when you’re paying off your mortgage loan, but less when you own your home outright. This is why it’s important to seek out home insurance quotes that fit your particular situation.

The same is true in business. Take product liability insurance, for example. Your liability requirements might be greater if you own and operate a hazardous chemical manufacturing plant than if you produce, say, apparel.

The point is that your liability coverage should be tailored to the specific needs of your company, so it pays to find an insurance provider that can tailor a policy to your business, rather than adopting a one-size-fits-all approach.

Negotiation is an Option

Unless you happen to specialize in either sales or acquisitions, haggling might not be your forte. If you’re not willing to negotiate for cheap motorcycle insurance in your personal life, why would you quibble over premiums for your business insurance policies?

The thing to keep in mind is that you are a consumer, even though you’re running a business. If you don’t look out for your own interests, you shouldn’t expect anyone else to. As a business owner, this is particularly important because your ability to thrive relies on a willingness to cut costs and maximize profits whenever possible.

You should always negotiate for products and services so that you can get the best possible deal and maintain your bottom line in the process. If you’re paying too much for liability insurance, you have no one to blame but yourself.

There is a long list of items that a new business owner needs to consider when starting a company, and relevant insurance policies should be at the top.

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As an adult, you know you are responsible for your actions, which is why you check health, life, homeowners, and car insurance rates to get the best deal on the policies that will protect you and your family in the event of disaster. When you start a business, you need to exercise equal responsibility.

There is a plethora of insurance types available to businesses, but the good news is you probably don’t need them all. If you have employees, property, automobiles, and other concerns, however, you will need certain insurance policies to cover them.

Before you snap up property and commercial vehicle insurance there are a few things you should know. Here are some important tips to help you find the right insurance for your new business without busting your budget in the process.

Legal Requirements

There are certain types of insurance that are non-negotiable. If you have dedicated work vehicles, for example, you’ll definitely want to compare car insurance quotes since the vast majority of states require drivers to be insured.

What we’re really talking about, though, are insurance policies that protect employees. According to the Small Business Administration (SBA), the law requires all companies with employees to carry worker’s compensation coverage, as well disability and unemployment insurance.

It is wise to comply with these laws not only because of the legal ramifications of a failure to do so, but also because it can save you a ton of out-of-pocket expense should employees be injured on the job or should you be forced to conduct layoffs, just for example.

Optional Insurance

Not every business will need to compare car insurance policies or get motorcycle insurance quotes. If your company supports vehicles, such policies are a must, but every business will have different requirements.

That said, there are certain “optional” policies you will definitely want, including property insurance to protect your assets and general liability insurance to protect against claims and lawsuits. If your company manufactures goods you should have product liability insurance, whereas if you provide services you might want professional liability insurance to deal with issues like errors, omissions, or claims of malpractice.

You’ll need to calculate risks, compare providers and policies, and decide what types of insurance your business needs to enjoy optimal protection at a price you can afford.

Saving Money

Your business has a bottom line and every cent you spend must come from somewhere, so it’s understandable that you’d prefer to save on insurance costs. This means comparison shopping, knowing what you need, and negotiating for deals on multiple policies.

If you're thinking of buying a boat to enjoy the open waters, it is best to understand what you'll need in terms of insurance first.

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With rivers, lakes, and oceans putting water sports within easy reach of the vast majority of Americans, it’s no surprise that boating is such a popular activity. Millions of Americans even own their own boats so that they can enjoy sun, surf, fishing, and other boating activities any time they like.

If you’re interested in joining the club, so to speak, you probably have some concerns about liability where your watercraft is concerned. The best way to gain peace of mind is to purchase boat insurance. Here are just a few things you should know first.

Understand State Laws

If you’re insuring your automobile, you can start to compare car insurance quotes right away because almost every state requires drivers to carry auto insurance (or meet other requirements such as providing collateral in the event of an accident). Boat insurance is a little different.

According to the DMV, not every state requires boaters to carry insurance on their watercraft. In fact, most states do not legally require boat insurance. Unfortunately, a lack of insurance leaves you liable for any damages or injuries resulting from accident, inclement weather, or other potential problems.

If you plan to dock your boat in a marina, you may find that obtaining a berth relies on you having boat insurance. While you can always keep your boat at home when you’re not using it, you should definitely speak to your homeowner’s insurance provider first.

Some policies cover small boats up to a certain size or value, but only your insurance provider can tell you what your policy includes. You should not rely on homeowners insurance to cover an expensive boat any more than it would cover an automobile on your property.

The point is that you may not necessarily be required by law to carry boat insurance the same way you need personal or commercial vehicle insurance, but it’s a good idea to have it anyway. Unless you’re prepared to pay out of pocket in the event of accident, injury, and/or damage related to your boat, you need the protection insurance provides.

How are Rates Determined?

Rates for boat insurance are tallied a bit differently than, say, car insurance rates, and you can end up overpaying if you aren’t careful. For example, there are several different classes of boats that come with different rates and coverage. You don’t want to pay for yacht insurance if you have a speedboat.

Rates are also based on the value, size (length, in feet, from bow to stern), and age of the boat, among other things. Like cars, boats lose value over time, so you should find out how to insure your watercraft so that a total loss pays out in the amount that you owe on your boat rather than the value, if you’re paying off a loan.

What is Covered?

This depends on several factors, but mainly relies on the policy you choose. When you seek out motorcycle insurance quotes you probably don’t bother to ask where you are covered because it’s unlikely that you’ll ever find yourself biking through foreign lands.

The same is not necessarily true of boating. If you take your boat out on the open ocean or even certain lakes, you could easily drift into another nation’s borders or international waters. Are you covered in such situations?

Some policies include a navigational warranty that may only provide coverage in certain areas. It’s important to ask about this before you select a policy, depending on where you intend to take your boat.

You should also know that certain scenarios may be covered by other types of insurance. For example, if you’re towing a boat and you’re involved in an accident, you might have to rely on your auto insurance to cover resulting damage. It’s best to speak to your homeowners, auto, and boating insurance providers to square away what each covers and what they do not so that you can secure appropriate boat insurance.

You should also know that some policies include seasonal “lay up” periods, where coverage is temporarily suspended (during the winter months, perhaps). It’s important to be aware of such options so that you don’t accidentally take your boat on the water without coverage.

Where to Get Boat Insurance

There are several companies that offer boat insurance, and just like you take the time to compare car insurance options, you should shop around for boat insurance that meets your coverage needs and your budget.

As you get your startup off the ground, consider which insurance policies your business needs to protect against the unexpected.

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Every business needs insurance to protect against the unknown. Just as people compare car insurance rates and home insurance quotes to protect their property from damage and protect themselves from liability, so too do businesses need proper insurance to cope with unforeseen circumstances like injured workers, lawsuits, or natural disasters, just for example.

What types of insurance does your startup need, though? As a new business owner you want to be understandably frugal, and there are a lot of different types of insurance available for businesses.

To some extent, the policies you select will depend on the type of business you run. After all, a white-collar office won’t need the same coverage as manufacturing warehouse, and while some businesses may want to check yacht insurance rates, this probably isn’t necessary for the average startup.

There are, however, certain types of insurance coverage that absolutely every business should carry. Here are a few to consider.

Worker’s Compensation

According to the Small Business Administration (sba.gov), businesses with employees must legally carry not only worker’s compensation insurance, but also related policies for unemployment and disability. If you think you can do without such policies, think again.

Not only is it the law, but you want to make sure your employees are financially cared for when they suffer an accident, injury, or illness related to the job or you are forced to lay them off. Plus, you don’t want to pay these costs out-of-pocket should such scenarios occur.

General Liability

Nobody wants to believe that there would be cause for someone to sue their business, but whether you produce a bad batch of product that causes injury or illness or you just raise the ire of a sue-happy customer, you need to be prepared. General commercial liability insurance covers you in the event of claims and lawsuits.

Property Insurance

A regular person might have to carry home, auto, and even cheap motorcycle insurance to cover their property. As a business, you need only a property insurance policy to cover all of your physical assets in the event of damage or loss related to larceny, vandalism, fire, or natural disaster, just for example. You may have to pay extra for flood, earthquake, and other area-specific threats, however.

Business Income Insurance

Business income insurance (or business interruption insurance) isn’t actually a necessity, but for startups on a shoestring budget, it is a good idea. This type of insurance kicks in following a disaster of some sort and it covers the income you lose while your business is closed and/or you have to rebuild.

Even with an insurance payout on property, a small business may not survive even a few days of closure due to catastrophe. Business income insurance covers this gap.

There are things you can do to reduce your auto insurance premiums so when it comes time to compare car insurance policies, you can find affordable rates.

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Wouldn’t it be great to find rock bottom car insurance rates for your vehicle? Unfortunately, this isn’t always possible, especially if you have a poor driving record, high-risk car or are just the wrong age. However, there are things you can do to reduce your premium.

Before you begin looking for car insurance quotes, it’s best to learn different methods to get better deals. This way, when it comes time to compare car insurance policies, you can find rates that are more affordable. The following tips can work whether you’re looking for regular or commercial vehicle insurance.

So what tips can you use to reduce your car insurance rates? Read On!

Buy a Car with Safety and Security Features

Insurance companies like to know that the cars they’re insuring are well protected. One way to put them at ease is to buy vehicles that come with safety and security features, like anti-lock brakes, anti-theft alarms and airbags. Discounts are normally offered for vehicles that have a reduced chance of getting stolen or into a horrible accident.

Choose a Higher Deductible

Only go this route if you’re comfortable with the idea of potentially paying the high deductible in the case that you need to use your insurance policy. The deductible is how much you will have to spend out of your own pocket before the insurance company will offer financial backing. Most deductibles are between $0 and $1,500.

Park in the Garage

If you have a home garage, use it to house your vehicle when you’re not driving. This will help protect it from weather, vandalism and theft. Stats have already proven this to be true, showing fewer cars being stolen or in an accident when it’s parked in a garage.

Take Driving Courses

But not just any ol’ driving courses – your best bet is to go with defensive driving classes. These will teach you how to be a better driver and avoid accidents. Insurance companies offer discounts to individuals who have taken safe driving courses from accredited institutions.

Compare Car Insurance Quotes Before You Buy a Car

If you’re on the market for a new or used car, make sure that the model vehicle you buy isn’t going to hike up your rates. Certain cars cost more to fix, which means you’ll have to spend more on your premium to insure it. There are other factors that play a role in determining auto insurance rates, such as the model’s overall safety record and risk of theft.

Buying auto insurance doesn’t have to be an expensive ordeal. Use the above tips to help drive down your premium.

If you are a senior looking to improve your car's insurance rates, then check out our tips to ensure you get the best auto insurance rates possible.

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There are a number of factors in determining how much you’ll have to pay for auto insurance. How well you drive, your age and your driving history are some of the items that dictate your costs. When you first learn to drive as a teenager, your age works against you when it comes time to buy insurance. You will gain more driving experience as you grow older, which helps to bring down car insurance rates. However, this doesn’t continue unabated.

Once you reach your 60s, your eyesight and motor skills might begin to decline, which means you are more prone to an accident. Insurers know this and this is why, when you compare car insurance quotes as a senior citizen, you’ll notice your rates are much higher.

But is this something that can’t be changed or is there something you can do to improve the car insurance rates you receive as a senior? The following tips can be used to help ensure you get the best quotes possible.

1. Notify Your Insurer About Your Mileage

When you compare car insurance, you’ll be asked how many miles you drive per year. The more miles you drive, the higher your rate will be. If you have gone from driving 10,000 miles to 2,000 miles annually, this is something you should notify your insurer about. This will award you a discount off your premium. The same goes for when you’re looking for new car insurance quotes. The lower the miles you drive, the better your premium will be.

2. Shop Around and Compare Car Insurance Quotes

There are plenty of auto insurance quotes you can find from reputable insurance providers. Don’t settle for the first rate you find because there may be something better right around the corner. As a rule of thumb, you should try to get at least three different quotes from three different insurers.

3. Install Anti-Theft Devices

The more secure your vehicle is, the lower your premium will be. You can obtain more protection for your vehicle by installing alarms, disabling devices and GPS tracking systems. OnStar and LoJack both offer these devices and services. Find out if the insurer offers discounts for having these installed.

4. Take a Driving Class

Depending on where you live, insurance companies may be required to offer seniors a discount. However, in other states, seniors have to take a driving class to brush up on their skills first. Both AARP and AAA offer online courses, but you can also attend them in person. You’ll need to check with your local DMV to determine the rules for taking senior driving courses.

5. Buy a Car That’s Cheap to Cover

Cars that cost a lot of money to repair, such as foreign vehicles and higher-end models, will have higher insurance premiums. If you’re on the market for a new car, make sure to check the quotes for different models before deciding which to buy. If you’re going to be using the car for business purposes, you will need to obtain commercial vehicle insurance.