It’s no secret that the insurance is one of the most expensive aspects of driving a car, but were you aware that you can exert control over how much you pay? Just as there are simple steps you can take to trim your electric bill or shed a few pounds, you can follow these tips to lower your insurance premium:

• · Don’t Duplicate Coverage: If you already have excellent health, life, and disability insurance, keep the personal injury protection part of your auto policy to the minimum amount required by your state.
• · Bundle Up: Purchase your auto and home insurance from one company and you will save money on both.
• · Increase your Deductible. Your deductible is the amount of money you pay out-of-pocket when you make a claim, before your insurance pays anything, and it’s inversely proportional to the amount of your premium (meaning that the larger your deductible is, the less you pay annually). Increasing your deductible from $200 to $500 can reduce what you pay on collision and comprehensive coverage by up to 30%, and if you raise it even higher, to $1,000, you could lower that premium 40% or more.
• · Purchase Carefully: Your auto premium is directly impacted by the car you drive, so if you’re still shopping, consider that cars that are inexpensive to repair, safe to drive, and unpopular with thieves are also cheaper to insure. Consult the website for the Insurance Institute for Highway Safety at www.iihs.org for specific statistics.
• · Drive Less: If an actual carpool isn’t an option, consider taking your bike to work or using mass transit a couple of times a week. Not only will you be doing your part to reduce greenhouse gases, you’ll also be earning a low mileage discount – which generally applies to those who drive fewer than 14,000 miles a year.
• · Take a Class: While many people only take defensive driving classes in order to “erase” traffic tickets, you can also take them to reduce your insurance premium. One class typically gives you a 3% discount that lasts for up to three years, at which point you can take the class again.
• · Safety Counts: Installing a LoJack tracking device, or other anti-theft devices, may cost a few extra bucks up front, but they can also earn you a discount on your auto coverage. In some states, even antilock brakes and airbags can save money.
• · Get Rid of Excess Coverage: If your car is older, not financed, and has a relatively low market value, you may want to consider dropping your collision and/or comprehensive coverage. Since any claims you make will probably be far lower than the cost of the insurance and the deductible amount, keeping full coverage is an expense you don’t need.

The tips above are all common-sense ways to lower your insurance premiums, but they are not the only ways. Whenever you are negotiating a policy renewal or shopping for a new policy, always ask about any discounts that may apply to your situation. You could save money based on your age, driving record, driving experience, grades (if you’re a student), or even your job. Just remember, when it comes to discounts, if you don’t ask, you don’t get.