You may want to consider dropping collision and comprehensive coverages on it and saving the premiums. But you need to decide whether the savings are enough to offset the risk of footing the entire cost of repairing or replacing your car. If you need collision and comprehensive coverages, you can still lower your premiums by taking higher deductibles. A deductible is the amount you agree to pay before your insurance kicks in. Accident Probability Some of the things that affect risk of your being involved in an accident are beyond your control.
Young drives pay more than adults do, and young males pay more than young females in most states.
Drivers in densely populated areas pay more than those in small towns or farm country. Your driving record, however, is under your control and it is one of the major factors affecting your accident probability. Insurance companies generally raise the premiums of drivers who have at-fault accidents while they give discounts to policyholders with clean driving records for several years. The more miles you drive the greater your risk of being in an accident. Most insurers charge lower premiums to adult customer who drive shorter mileage each year and to those who don't drive to work.