6 Ways To Keep Your Car Insurance Affordable

Maintaining affordable car insurance is something that everyone wants, but not a lot of people actually take advantage of different ways to keep premiums at a minimum. Auto insurers use several different elements to determine how much your insurance rate will be, but there are some well-known ways to get the best rate at the right price.

Here are six ways to keep your car insurance affordable:

1. Keep your mileage down

While this might not be achievable for everyone, most auto insurance companies track how many miles you put on your vehicle each year. According to Bankrate, one of the easiest ways you can get your mileage down is by carpooling so you split your daily commute with other drivers.

"Most companies track mileage," Art Scott, a former insurance agent, told the source. "Anything [fewer than] 7,500 miles is considered the pleasure rate - and that's the lowest. Up to about 13,000 miles is a medium rate, and anything over that is a higher rate."

Sometimes the driver can save as much as 25 percent if they are able to significantly cut down the mileage on their vehicles, the source reported.

2. Ask about group or work insurance discounts

If you're working for a large company that has thousands of workers, there's a really good chance your employer offers some sort of discount on auto insurance. If not, it's always best to ask when you're searching for the best and lowest car insurance rate. According to Edmunds, members of specific organizations or even professions can sometimes earn discounts for being an educator, veteran or engineer. It's best to tell an insurer about all your organizations and groups to see if any apply to your car insurance rate.

3. Bump up your deductible

Even though increasing your deductible sounds like a bad idea, those who are rarely - if ever - involved in accidents should consider it. According to Cheap Car Insurance, the deductible is the amount you would owe if you were ever in an accident before the insurer would pay for your total claim. The cheaper the deductible, the more likely your total rate will grow.

Additionally, numerous car insurance agents will actually allow you to increase your deductible to get a lower overall rate, the source reported. As a safe driver and one who is looking for the most affordable car insurance rate possible, a high deductible could save you hundreds a year on monthly insurance payments.

4. Bundle your items

One of the easiest ways to get a cheaper insurance rate is to bundle all your other items to that specific insurer. Simply put, businesses want to cover as much as possible for you, and bundling could reap serious benefits when you add things such as boats, motorcycles, a house, renters insurance or among other items.

By adding all of these things together, you're likely to see big savings when you pay for your insurance each month. However, it's always best to do your homework and make sure you're saving on each item and not just one.

5. Improve credit score and insurance bill paying

Paying your auto insurance bill on time doesn't really have to do with your driving ability, but insurers like to know you're responsible and pay bills on time, which could help you save. According to Bankrate, you need to make sure your bills are always paid on time because one late payment could affect your overall premium.

"Many insurers use credit-based insurance scores," said Mike Barry, a spokesman for the Insurance Information Institute, according to the source. "It's a contentious issue in certain state houses … (but) insurers will say their studies show that if you're responsible in your personal life, you're less likely to file claims."

Getting your credit score bumped up can also help you save money when you're looking at new insurers- and the same logic applies to your overall financial status.

6. Shop around for the best rate

You should never limit yourself to a single auto insurance rate and always shop around as much as possible to find the best rate. While shopping around might not sound like it will be the easiest thing in the world, you can use CoverHound to find some of the cheapest rates on the Web. Getting all the rates across the Internet and comparing them on one site could make your search much easier.

Also, being a loyal driver to your car insurance company could pay off as well, but sometimes drivers discover a much more affordable rate through another company. Auto insurance companies are always fighting to get you as their customer and by using CoverHound to shop for the best rate, you might be able to save hundreds on your car insurance each year.