A penny saved is a penny earned and these days, every penny counts. For many households, there may be additional ways to save on car insurance.

Here are some common ways to find discounts and savings.

Drive safely
Your insurance rates reflect regional risks, but they also reflect your own risk as measured by your driving habits. Accidents can lead to increased rates, as well as moving violations such as speeding. Bigger infractions like reckless or careless driving can have an even larger effect on rates. By driving more carefully, you reduce risk for yourself, your passengers, and other motorists, but you will often reduce your insurance rates over time as well.

Cancel unneeded coverage
In many households, it makes sense to carry full coverage on all vehicles. However, some older vehicles may not benefit from full coverage based on their value. An older vehicle, even if in near-perfect shape, may not be worth much from an insurance standpoint. If you are paying an extra $500 per year to fully insure a car worth $1,000, you may be better off using the money for an emergency fund instead and keeping liability insurance. Ask your broker for rates. For example, you might choose to keep comprehensive coverage, which is usually inexpensive, while dropping collision coverage.

Limit your mileage
Less driving means less risk and many insurers offer ways to save if you do not use your car much. For example, some insurers offer a lower rate for drivers who drive less than 7,500 miles per year. In other cases, some insurers use an in-car device called a telematics device to measure usage, time of day, driving speeds, and more. These devices are usually optional, but if you choose to use a telematics device, you may be able to save money.

Choose a higher deductible
The deductible is the part of the claim that you pay. By choosing a higher deductible, you are agreeing to assume a higher amount of risk, which means that higher deductibles often lead to lower insurance premiums. It is important to do the math, however. Work with your agent or broker to find out which deductible amounts lead to the most meaningful savings. It is also important to be certain the deductible amount you choose is an amount you can afford to pay if you have a loss.

Bundle your policies
Many insurers offer additional discounts for purchasing more than one type of insurance policy from the same insurer. For example, you can often save on your auto and/or home insurance policy by purchasing both your home and auto insurance policy from the same insurer. Another common bundling discount some insurers offer is for life insurance. In this case, you may be able to save money on your auto insurance policy or other insurance policies if you also purchase a life insurance policy through the same insurer.

Many other discounts may be available, but each household may qualify for a different set of discounts.  Our insurer partners have ways to help you save on your car insurance. Reach out to your broker to review your coverage and learn which discounts or ways to save are available for you and your family.