How might I reduce my premium if I want to stay with my current insurance company?
There are a number of ways that you might reduce the cost of your insurance. For example, you might ask about premium savings if you increase your deductibles. Doing so will mean you pay more out of your pocket should a loss occur, but it will reduce the premium you pay.
You also could ask about steps you could take to receive a discount on your premium from the company. For example, some companies reduce your premium if you have certain safety features such as air bags, anti-lock brakes, anti-theft devices, if you are a good student, or if you have more than one type of policy with the same company (such as your auto insurance policy and a homeowner or renters insurance policy).
Discounts may also be available if you have appropriate health insurance coverage and you ask to "coordinate" your auto insurance with your health insurance. You may not coordinate if you have Medicaid, Medicare, or a Medicare supplement policy. Ask your agent about the option to coordinate coverage. If you coordinate, your health insurance policy becomes the primary payer for any injuries resulting from an auto accident. Your auto insurance pays for reasonable expenses not covered by the health policy. If you have health insurance, check with the company to make sure your health insurance coverage will pay for injuries related to a car accident before you try to coordinate coverage.
Also, you might ask about group discounts that are available. Membership in some associations or groups might lower your premium.
You can review another consumer publication: How to Reduce the Cost of Your Car Insurance for tips on reducing the cost of your insurance. Your Guide to Automobile Insurance For Michigan Consumers also contain additional suggestions.