1. Compare Quotes From Multiple Insurers Every Year
Many drivers stick with the same company for five, ten, or even twenty years simply out of habit, assuming that loyalty must count for something. In practice, insurers rarely reward tenure the way people expect, and some studies of the industry suggest new customers frequently get better introductory pricing than long standing ones. Treat comparison shopping the same way you would treat comparing prices on a big purchase like a television or a mattress, a little effort upfront can translate into real, ongoing savings for years to come.
The single most effective way to lower your premium is also the simplest, get quotes from several different companies at least once a year. Rates vary enormously between insurers for the exact same driver and vehicle, sometimes by hundreds of dollars annually. Insurance companies count on customer inertia, meaning most people never bother to compare, so loyalty often costs you money rather than earning you a discount. Set aside an hour each year specifically to shop around.
Quick tip: Set a recurring calendar reminder thirty days before your renewal so you always have fresh quotes in hand before your current policy automatically renews at a higher rate. When requesting quotes, make sure you are comparing identical coverage limits and deductibles across each company, since a lower price sometimes hides a lower level of protection underneath it.