Five easy ways to help lower your auto insurance premiums

Times are tough for a lot of people right now. Between high unemployment, low savings account interest rates and the volatile stock market, saving money is of paramount importance. But there are more ways to save than you may think.

A good place to start is by taking steps to lower the rates you pay for auto insurance coverage. Here are five easy ways which may help lower your premiums:

1. Car safety and security features. Driving a car that has a number of built-in safety features, such as air bags and anti-lock brakes, and security features, like anti-theft and engine cut-off systems, may automatically qualify you for discounts on your auto insurance premiums. Such vehicles are statistically less likely to be in an accident or stolen than those that don't have these features.

2. Set higher deductibles. The higher your deductible - the amount of money you're willing to pay in the event of a claim - the lower your premium. Typically, deductibles range from $0 - $1,500.

3. Take a defensive driving course. Some auto insurance companies offer discounts for any driver who successfully completes a safe-driving course at an accredited institution. Typically, these courses are taken by teenage drivers and seniors, but any driver may benefit from taking one.

4. Clean out that garage. Many insurance companies offer discounts to people who park their cars inside a garage, rather than out on the street or in a driveway. Statistics show that vehicles in garages are less likely to be stolen or in accidents.

5. Compare many auto insurance quotes. Be sure to get several auto insurance quotes when shopping around, then compare them side-by-side to pick the one that's best for your situation.

Other suggestions to save money on your monthly expenses include clipping coupons to help pay for purchases you make at the grocery store, watching out for sales on the items you purchase regularly and stocking up and eliminating services you may not really need, such as cable television and your landline phone if you have cell service.

Courtesy of ARAcontent