It is usually cheaper for parents to insure children away at school than for the children to insure themselves. Check to see if your insurance company has a policy which combines car and home coverage with a lower premium. Choose a company that bills you directly for the premium instead of through the agent. Direct-billing can cut about 10 percent from your premium. Save more money by paying premiums annually or semi-annually.
Monthly payments cost more.
Deductibles on collision and comprehensive physical damage coverage let you do the most cost-cutting. The larger the deductible, the lower your premium. Depending on the insurance company, drivers age 50 or older may qualify for a discount. The discount is often as much as 10 percent. Think about buying more liability insurance.