by 5. Reduce Your Coverage Or Raise Your Deductible.
A logical way to lower the amount you pay for insurance is to lower the amount the insurance company pays out for your possible claims. You have two basic options here: First, if you drive an older vehicle, you can reduce your coverage to reflect an age-appropriate value. Increasing your deductible can boost your savings, yet it comes with a bit of a risk. Remember, the higher the deductible, the more you pay out of pocket before the insurance company gets involved.
