One tip for finding cheap car insurance online is to know exactly how much coverage is necessary for the vehicle in question and comparing prices for minimum coverage at different insurance agencies, especially the costs of bodily injury liability for a single person, property damage liability and bodily injury liability for all injured parties, states Bankrate. Online calculators can help streamline the process of comparing prices.
To find the cheapest auto insurance, take advantage of discounts, Bankrate suggests. Some insurance agencies offer discounts for having a clean driving record, various types of employment, being married or paying the premium in full for the year instead of making monthly payments. Insurance agencies may also offer discounts for insuring multiple vehicles with the company or for having a membership with the company, such as the policies that Farm Bureau offers in certain states, informs Nationwide.
Raising the deductible can also help lower the cost of auto insurance, because the premium generally decreases as the deductible increases, reports Nationwide. Cutting certain coverage can lead to cost savings. For example, if the premium costs more than 10 percent of the value of the vehicle or if the vehicle is older and paid for in full, consider cutting collision or comprehensive car insurance from the policy to reduce costs. Without collision insurance, however, in the event of an accident, all repair costs are the sole responsibility of the owner of the vehicle if he is at fault for the accident. Other coverage to consider eliminating include rental or towing coverage, Bankrate suggests.