If you have renter's or homeowners’ coverage, your insurer may offer you additional savings if you insure your vehicle with them, too. Insurance companies assess risk when determining how much to charge for coverage, so a clean driving record typically indicates that you are a lower-risk driver, which means you are less likely to be involved in an accident or file a claim. Finally, some insurance companies offer telematics apps you can use on your smartphone to monitor your driving habits. If the app demonstrates that you're a safe and conscientious driver, you may qualify for a lower insurance rate.

Your auto insurance deductible is the amount you are responsible for paying, prior to your insurance company covering the rest of your claim. Your deductible will directly influence how much you’ll pay for your policy.

When buying auto insurance, you will have the opportunity to choose a deductible amount that best suits your financial situation. Consider how much you typically have on hand to cover emergencies. If there’s a risk of not having enough to pay out a higher deductible, then go for the lower one.

The more expensive your car is the more it will cost to insure. If you drive a newer vehicle you may want to consider a higher deductible to lower your premiums.

Life changes quickly and that means your coverage needs may change too. Take a moment to review your policy before it renews each year to identify areas where you may be able to save.

It's essential to have enough coverage to protect yourself financially. While it's tempting to choose the minimum coverage to save money, it might not be enough to fully cover you in the event of a significant accident, which means you could be on the hook for additional out of pocket costs.