These tips come from a combination of research and articles. After reading and applying your new found knowledge you should be able to save up to $1000, if you’re not already. You’ll still have some work to do on your end but your time will be much better spend. Here we go!

1- Match my quote

This is the first step towards saving money. Online quotes tend to be less expensive than a quote you’ll get from your agent. Every now and then an online quote can be higher than what you’re currently paying. DON’T STOP, go to the next site and see what you get. Once you find that great deal you can do one of two things, take it, or bring it to your current or local agent and ask them to match it. This way you get a great price and you don’t loose on personal friendly service. To get a good idea of the price range check your state insurance commission’s Web site.

The following 10 sites either offer instant quotes, or an agent will call you. Be prepare to enter information on your car, driving record and habits, as well as where you live. What are you waiting for, get started!

2- The cheapest cars to insure

If you’re in the market to buy a new or used car there are certain models that will cost you a lot more to insure. Instead of spending all you time shopping for a car, spend more time checking the insurance cost for each car you’re interested in. Remember that after the liability portion of your policy, the comprehensive and collision has the next biggest financial impact. Insurers take into account the model’s safety rating and safety features, repair costs, likelihood of accidents and its record for theft and vandalism. For more information on makes and models check out, Insurance Institute For Highway Safety

Here’s a 2008 list of the top 10 cheapest cars to insure, think about it.

3- The combination discount

Many insurance companies offer a discount if you take two or more policies with them. Savings can range for 5 to 15 percent. Combining for example home and auto insurance is not only a smart move financially but also a practical one; you only deal with one agent from one company and pay one bill instead of two. For those of us who have precious jewelry or a yacht Chubb Insurance offers 10 to 20% discount when combine with auto insurance.

4- Usage-based discounts

If you don’t already keep an eye on your mileage maybe it’s time to do so. Some insurance companies, such as, State Farm Mutual Insurance Cos., Travelers Cos. and Farmers Insurance Group offer discounts to drivers whose odometer clocks in at less than 15000, 7500 or 2500 miles annually. GMAC and Progressive use devices like OnStar to keep track of your mileage. Make sure you ask about low-mileage discount if your dealing with an agent, they may not offer it unless you ask.

5- Deductible savings

Getting insurance it not about having every little thing covered, it’s about making sure you’re covered for substantial loss. If you claim for every nick you’re wasting your insurance. In this same thought you should increase your deductible to $1000 which can lower you premium by up to 40%. A higher deductible will not cost more; it will actually cost less than a $250 or $500 deductible. It’s all about how much you put down before the insurance kicks in, in the unfortunate case of an accident.

Another good thing to know about deductibles is that not all cars need them. If you’ve got an old clunker as a second or third car is not worth even having a deductible, and it would be a nuisance for the insurer to have to cover it, liability protection should still be maintain in case you’re responsible for an accident.

6- The almighty policy

These policies take care of the worst types of accidents so they rarely pay out which is why they are quite inexpensive; for $200 they start where your regular policy ends and can goes $2 million. Make sure you don’t over insure on your regular policy, experts suggest a policy called 50/100/25. $50,000 for one person injured in a car accident, $100,000 max payout for all injured parties, and $25,000 for property damage. Be careful with add-ons; do not accidentally duplicate coverage for medical coverage or life insurance that you might already have.

7- The importance of ownership

For liability reasons only, all cars should have a sole owner. the reason being that if either of the owners are at fault in an accident both owners are vulnerable. A jointly owned car puts both owners at risk of being sued even if only one of the two owners were involved in the accident. The same goes for young drives, as soon as they are of legal age have them assume ownership of their own car or else you could be liable for their mishaps.

8- Discounts, discounts, and more discounts

There are surprisingly many discounts available out there, not all may be available depending on the insurer, but asking is the only way you’ll find out. A discount exists for young adults under the age of 21 with a B or better average at school who have taken driver’s education. There are also discounts available for professionals, such as, teachers and engineers. The same goes for members of college sororities, fraternities and alumni groups. Other groups that are also eligible for discounts are the American Dental Hygienists, credit unions, and motoring clubs among 200 others.

Be aware that late payments, bad credit record, parking and speeding tickets may work against you, so make an effort to keep a clean driving record and well as financial.

We really hope that you apply these steps and start seeing great savings immediately. Think about it if you save $700 every year on your car insurance for the next 30 years and invest that in your retirement with a 7% return, you’ll end up with over $75,000. Not bad for one investment.