Auto insurance can be costly. To reduce costs, make sure you’re aware of every possible discount applicable to your situation.  There are several discounts and other ways to reduce insurance premiums. In fact, there even be may be some you’re unaware of.

Deductibles- Deductibles are the amount you’re responsible for before the insurance company begins paying the claim. They apply to collision and comprehensive coverages and range from $250 to $2000. The amount you select can significantly impact your cost. For example, if you set a $1,500 deductible instead of one for $250, it may mean a 10 to 20% premium reduction.

Multi-Policy Discount- Insurance companies offer this discount when you buy more than one policy from them. You might have a homeowner’s, auto and boat policy from the same insurance carrier. If you do, it can mean a premium discount of between 5 and 10%.

Good Student- While your teenager (especially a male) can increase the cost of your insurance, if they maintain a B average while in school it can save you money. You could realize a savings of 15% or more on premium with a good student in your home!

Education- If you take a defensive driving course you may be eligible for a premium discount. Check with your agent first to make sure completing that particular program will make you eligible for a discount.

Safety Features- Car insurance companies offer a variety of discounts for safety features in your car. These features include anti-lock brakes, airbags and automatic seatbelts.

Anti-Theft Devices- The same goes for anti-theft devices. The reason for this is that they reduce the chances of the car being stolen or vandalized. You can get discounts for car alarms, tracking systems and LoJack systems.

Low Profile Cars- Cars are rated on risk. For example, if one car is stolen more often than others, the premiums for that car will be higher.  So, buy a less flashy vehicle. It might save you money!

Maintain a Clean Driving Record- Many companies will offer a safe driving discount if you do not have an accident or ticket within a three year span. On the flip side, poor driving may cost you more. For example, some states allow insurance companies to increase rates 5 to 10% for just one speeding ticket.

Adjust Your Limits- Similar to deductibles, lowering policy limits (for liability, medical payments, and property damage) can reduce your premium.

Shop- The internet is the Wal-Mart of insurance companies. Use it. Online insurance quote calculators have made it easy to compare the cost of auto insurance from different companies. Enter the same deductibles and limits and see how the prices look side by side. You might be surprised at how much rates for different insurance companies can vary.