New Year May Provide Opportunities to Save on Auto Insurance

Jan 05, 2010, 07:00 ET from Online Auto Insurance, LLC

ST. LOUIS, Jan. 5 /PRNewswire/ -- Better money management is usually among the top of many New Years resolutions lists and auto insurance can be a great place to start cutting back on costs. According to, future individual's changes may lead to cheaper rates for coverage.

A new year may lead to being a more attractive policyholder to insurers and many individuals will have a chance of saving on their policies as the year progresses; shopping around can lead to locating cheap car insurance companies and savings.

Consumers should be aware of the following list of personal changes that may lead to lower premiums when shopping for cheaper policies:

  1. Increased age. Many companies will offer lower rates to those who have turned certain ages such as 25 or have had increased their driving experience to three years due to the fact that they are seen as less of a risk to insure. An upcoming birthday may come with an extra gift of savings from insurers.
  2. Driving record. If a motorist is going to have tickets or accidents pass the three year mark on their record, many companies will charge much less for coverage and it may provide a good driver discount which is usually in the amount of 20%.
  3. Marriage. Upcoming nuptials this year can lead to savings as well as insurers view married couples as less of a risk to insure. In addition, insuring the spouses' vehicles together may also provide a multi-car discount.
  4. Lower vehicle value. As time goes by automobiles depreciate; if this is the case it may be a good time to consider dropping Comprehensive and Collision coverage which can lower a premium significantly.

While shopping around one should also take the time to compare rates with different amounts of deductibles. According to the Missouri Department of Insurance, "Revisit your deductibles. If they are currently $250, raising them to $500 or $1,000 should cause a noticeable drop in your premiums."


Consumers should continuously compare the rates of their current carrier to those of competitors to ensure that they are paying the cheapest premium. Individuals can do so free of charge by visiting for a quick and easy quote comparison.

SOURCE Online Auto Insurance, LLC