If you’re like so many of us, you just accept your auto insurance premium as a given. You probably even accept the fact that it increases each time the policy renews. Do you know that you may have some control over what you spend? Even though the industry is highly regulated, not all car insurance is the same.

Besides paying for auto insurance, most of you probably also need to buy other types of coverage for your home, other vehicles, and maybe even a business. You may pay insurance companies a lot every month, but you also have quite a bit of bargaining power and should not hesitate to shop around for car insurance every year or so.

Shop and Compare

You may not realize it, but it’s likely that your insurance needs have changed over the past year. Even if everything has stayed exactly the same, the insurance market is incredibly dynamic. This means that you probably should update your insurance or at least, search for better value.

Compare your rates with quotes from different insurers. Despite strict state oversight, companies have different pricing algorithms, so shopping around should pay off. This is especially true if your credit score is low, you’ve had a recent accident, or you have an insurance claim on your record. Companies will treat that activity differently, so getting quotes from several insurance carriers is a good way to find a proper fit for your situation.

Insurers offer a variety of discounts for cars with new safety features or installed safety systems. Since some of these systems come with the car, you might not even be aware of what you have. If you ask, the insurer or agent can look up your make and model of the vehicle and tell you what you have.

Bundle Different Types of Insurance

Insurance companies typically offer many kinds of policies. If your policies are spread among different insurers, you may be leaving money on the table. Companies want as much of your business as possible, so they often offer discounts if you buy multiple policies. If you need both homeowners' or renters’ insurance and auto insurance, you should know that many companies will offer you savings for bundling everything with them. You may also get a discount for other kinds of insurance if your household buys multiple policies or has multiple people insured on the same policy.

To Sum it Up

Saving money is a good thing and lowering your car insurance premiums can be one way to keep a little extra in your pocket. Shopping around and comparing rates at different companies is one way to save.

Some folks put off shopping for new auto policies because they imagine it will take a lot of time or be difficult to understand their quotes. If you know what you want, you can find online quotes that can give you premium offers within seconds. Otherwise, you might simply call an independent insurance agent who can learn more about your unique situation and budget, suggest the right coverage, and then shop for you to find affordable premiums from a quality insurance company.