At a time of rising prices and economic uncertainty, consumers are looking for innovative ways to hold on to their cash. A good place to start is by reviewing auto insurance policies:

The price you pay for car insurance can vary by hundreds of dollars, depending on many factors. Here are some tips to help you save money:

• When choosing a car, consider the cost of auto insurance
  Before you buy a new or used car, check into what it will cost to insure it as choosing the right car can help lower your premium. Premiums are based in part on the car’s sticker price, the cost to repair it, its overall safety record and the likelihood of theft. Many insurers offer discounts for features that reduce the risk of injuries or theft. These include air bags, anti-lock brakes, daytime running lights and anti-theft devices. Some states even require insurers to give discounts for cars equipped with air bags or anti-lock brakes. Cars that are favorite targets for thieves cost more to insure.
• Ask for higher deductibles
  Increasing the deductible on your car from $200 to $500 could reduce the price of your collision and comprehensive coverage by 15 percent to 30 percent. Going to a $1,000 deductible can save you 40 percent or more. Keep in mind that claims occur on average only once every 11 or 12 years.
• Seek out safe driver discounts
  Companies offer discounts to policyholders who have not had any accidents or moving violations for a number of years, so if you have a good driving record ask your agent or insurance company representative whether this qualifies you for a reduction in your premium. You may also qualify for a cut if you have recently taken a defensive driving course.
• Reduce coverage on older cars
  Consider dropping collision and/or comprehensive coverage on older cars. It may not be cost-effective to continue this type of insurance on cars worth less than 10 times the amount you would pay for coverage. As a general rule, it does not make sense to pay comprehensive or collision on a car worth less than $1,000 as any claim payment you receive would not substantially exceed your premiums minus the deductible. Auto dealers and banks can tell you the book value of a car.
• Take advantage of low-mileage discounts
  Some companies offer discounts to motorists who drive a lower than average number of miles per year. Low mileage discounts can also apply to drivers who carpool to work taking public transportation.
• Ask about group coverage
  If your company administers a group insurance program, check to see they offer an auto policy that is a better deal than you can find elsewhere. In addition, professional, alumni and business groups may offer an insurance package at a reduced price.
• Inquire about other discounts
  You may get a break on your insurance in some of the following situations:
  -You are over 50
  -There is a young driver on the policy who is a good student, has taken a drivers education course or is away at college—without the car and generally at least 100 miles away.
  -You are insuring more than one car
• Buy your homeowners insurance and auto coverage from the same insurer
  Many insurers will give you a discount if you buy two or more types of insurance from them. Also you may get a reduction if you have more than one vehicle insured with the same company. Some insurers reduce premiums for long-time customers. Keep in mind that you may still save money by buying from different insurance companies despite the multi-policy discount, so you should always shop around.
• Maintain good credit
  Your credit rating may affect what you pay for insurance, so keep a close eye on it. Using credit ratings can make insurance rates more accurate, fair and objective. While the use of insurance scoring varies from state to state and company to company, it is a fact that drivers with long, stable credit records have fewer accidents than drivers who do not.
• Shop around
  Prices can vary significantly from company to company, so when your auto policy comes up for renewal, it pays to shop around. Get at least three price quotes from top-rated insurance companies from one place at  www.RateElert.com.

          Many experts agree you should compare rates every year to make sure you are still getting the best deal and as your life changes, your insurance may need to change too.  With RateElert’s free insurance NetShopper® renewal reminder service you can feel secure knowing you are always getting the best rates possible, Get your  free Auto Insurance Rate today!