Vehicle owners in Indiana are required by state law to take financial responsibility for any accidents they cause and maintaining car insurance is the best way to do so. Auto insurance rates aren’t fixed, and there are ways drivers can lower their premium, which is the amount an individual pays for their insurance policy. Here are some tips for reducing your costs without losing the coverage you need.

How Can You Lower Your Car Insurance?

1. Qualify for Discounts

Many insurance companies provide discounts to those who meet specific criteria. State Farm®, for example, offers up to 10 discounts for drivers in Indiana. These discounts are for those who have met guidelines such as having two vehicles in the same household or being good students. State Farm also offers discounts for those who have been accident-free for at least three years regardless of who their previous insurance company was. An insurance agent can review your eligibility and advise you on how to qualify for discounts in the future.

2. Shop Around

Car insurance rates can differ by company, state, and agent. Many drivers stay with the same provider for multiple years, and that’s what insurance companies count on. Shopping around can take some effort, but many policyholders have switched providers and saved up to $200 on their premium. Consider using websites such as Insurify.com and Nerdwallet.com.

3. Build Your Credit 

Did you know your credit score can influence your insurance rate more than your driving record? By making your credit card and loan payments on time and not overspending past your budget, you can significantly increase your credit score and lower your insurance premium. Avoid applying for new credit too often. This can lower your credit score. According to Equifax.com: a score of 670-739 is considered good, a score of 740-799 is considered very good, and a score of 800-850 is excellent.

If you’re looking for an insurance agent specializing in affordable rates for car insurance, call Bruce Richardson - State Farm® Agent in Mooresville, IN. He’s a second-generation insurance agent with approximately 25 years in the industry. He can guide you through discounts and ways to save funds. Call (317) 831-3500 to schedule a consultation or visit his website to learn more about available policies and coverage.