After four months of declining rates, the average annual car insurance premium rose in June to $1,884, according to an insurance monitoring website.
Although the average car insurance premium is still lower than in October 2008, when it reached $1,982, consumers feeling the pain from the poor economy, lost jobs and rising gas prices may need to consider ways to lower their premium.
Insurance experts say drivers who raise their deductible from $250 to $1,000 can save as much as 40 percent on their annual premium. Another way to save is dropping collision coverage for older vehicles.
Some insurance companies offer a range of discounts for safe drivers and people who drive less often. People who drive less than 7,500 miles per year may qualify for a low-mileage discount.
Consumers looking to buy a car should consider which models are safest and have the highest rating from insurers. Sports cars and other high-profile vehicles are more expensive to insure.
Finally, it pays to shop around. Insurance premiums can vary greatly depending on the carrier.
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