Auto Insurance: How to Lower Your Premiums

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Insurance is an integral part of any financial plan. Making sure assets, such as your autos, are adequately covered can prevent substantial financial loss. Just as important is verifying you’re getting the best value for your insurance premiums. One of the best ways to do so is to explore all options for insurance premium reductions.

Auto Insurance: How to Lower Your Premiums


You should be periodically reviewing your auto insurance coverages. Is your vehicle now paid off and reduced in value? Is it time to consider removing physical damage coverage for your vehicle? Have your financial circumstances changed? You may be better positioned to increase your deductible to reduce your premium. These are just a few of the reasons reviewing your coverages could result in reduced premiums due to needed changes.


If you haven’t recently updated your policies, there may be drivers listed who are no longer in the household. This could be impacting your premiums. Your semi-annual or annual policy statements should list current drivers in your household. Make sure the drivers listed are up-to-date not only to protect your premium but also to prevent an unlisted driver from having a non-covered loss.


Auto insurance discounts come in many forms.

  • Payment discounts for paperless billing, automatic withdrawals, full payment, and on-time payments can provide substantial premium savings.
  • Policy discounts include discounts for multiple auto policies and bundling different policies, such as home and auto. Multi-car and multi-line discounts are often the largest auto insurance discounts.
  • Driver Discounts are especially beneficial for younger drivers with safe driving records and good grades. All drivers may be eligible for a discount for completing an approved defensive driving course. Remaining accident-free is not only good for your safety but also helps reduce your premiums.
  • Vehicle Discounts apply to new, first-owner vehicles. Discounts for anti-lock brakes and anti-theft devices may be available as well.


Certain credit characteristics can play a part in your insurance premiums. Continued strides towards a good credit history is always a good idea and could help reduce your insurance premiums.

Annual Reviews

As you can see, there are many options for reducing your auto insurance premiums. That’s why annual insurance reviews with your insurance agent are essential. At your annual review, your agent will discuss all the current and potential discounts available to ensure you get the best coverage at the best premium.

The Joe Hancock Allstate Agency is family-owned and operated. Your family is our family. Contact us to discuss all your auto insurance options.

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