Top 10 Ways to Lower Your Car Insurance Premiums

No one likes having to pay for car insurance, but it is a simple fact of life that you need this kind of protection should the worst happen. Cars are the second most expensive investment most people make (after their home), so it is no wonder that we need to insure our vehicles in so many different ways.

There is collision insurance coverage, comprehensive insurance coverage and even a special program that covers you if your car gets totaled as you leave the new car lot. So clearly the insurance industry has us completely covered when it comes to our cars, but are there any easy (and not so easy) ways to lower your insurance premiums?

Well, it appears that today is your lucky day because following is the top 10 list of the best ways to lower your auto insurance premiums. But just remember to keep your eyes open on the road, because the best accident is always the one you avoid.

Be Over 25 Years Old

Yes, it's a rather silly age marker that your 25^th birthday stands out in memory as the one when your car insurance got significantly cheaper. But apparently insurance companies have put a lot of study into this and people under 25 are just more dangerous on the road.

Maintain a Clean Driving Record

No accidents and no tickets on your record can often times mean a hefty discount. See the last recommendation for further details on how to keep your record clean.

Bundle Your Other Insurance Coverage Plans with the Same Company

Fire, home, renters', flood and any of your other insurance policies should be with the same company, because it gets you a discount. This is called bundling.

Buy a Safer Car

A vehicle's safety rankings, safety equipment and even the likelihood of it getting stolen all can affect your insurance rates.

Move to a Safer Neighborhood

This one isn't so easy to do, but car insurance carriers look at the crime rates in your neighborhood when determining your premium.

Graduate from College

College graduates get auto insurance discounts, but you must have proof like a diploma or similar documentation.

Attach a Monitoring Device to Your Vehicle

If you are participating in a pay-as-you-go insurance plan, then attaching a monitoring device to your car can save you a lot of money. You will, however, be telling your insurer through this device exactly how good or bad a driver you really are, so it's also possible that a monitoring device will raise your premium.

Bundle Multiple Family Drivers in One Policy

Mom, Dad and the kids should all be bundled under one umbrella policy to ensure the best rates.

Join the Military

This is probably not a reason someone will join the military, but active U.S. armed forces and veterans usually qualify for some sort of discount.

Go to Traffic School if You Get a Ticket

This last one is something I neglected to do last time I got a speeding ticket, and I paid for it. So if you get a ticket, follow up and go to traffic school.