Enjoy the Benefits of Auto Insurance Without Growing Broke

One of the biggest burdens on my income has to be my car insurance. It's required to drive, but unless you have an accident you will never use it. Insurance scammers and greedy corporations have driven the cost up exponentially, and all lenders require full coverage on a vehicle if you finance it. While there is no way to get around carrying insurance if you want to enjoy the benefits of automobile ownership, you can use these methods to reduce your monthly payments.

Be Educated

You can save hundreds of dollars every month just by shopping around for different quotes. Know your driving record and buy accordingly. While Geico has great rates for liability coverage with a high deductible, you will be wishing you chose another provider when you crash into a guardrail. 21st Century Auto Insurance advertises that if you get in an accident, you will get off cheaper with them even though your monthly payments are higher. Be sure to consider if you are likely to use the insurance before you select coverage options. While insurance is largely a gamble, you can effectively count the cards if you know what to count on.

Buy a Car with Insurance in Mind

I always consider the overall cost of owning an automobile before I consider making a purchase. Vehicles that are equipped with four-wheel drive will cost substantially more to insure, and even the color of your car can drive up the cost (red cars are notorious for raising rates with some insurers). Some models you wouldn't suspect of being costly to insure -- like the Mitsubishi Lancer, Scion tC and Suzuki Forenza -- are ranked "substantially worse than average" in key categories by the Insurance Institute for Highway Safety. Some of the least expensive vehicles to insure are the Ford Taurus, Buick Rendezvous, Chrysler Town and Country and Honda Pilot, according to Bankrate.com.

Know Your Policy

I personally believe in carrying the bare minimum insurance that is allowed by law in my state. I make sure to raise my deductibles as high as they will go, and confirm with an insurance agent that I cannot cut any more from my monthly costs. I always pay my insurance in six-month installments, which could save between 10 and 20 percent, depending on your policy. I also make sure to take all the discounts available through my insurance carrier. I make sure the insurer knows about my anti-lock brakes, security system and the bumpers that are rated for 5 miles an hour over the national collision standards. When I was younger, I elicited a discount by taking a defensive driving course, and I have also gotten my premiums lowered by keeping my vehicle garaged.