1. If you need a discount, get your insurance policy from the same insurer you bought existing policies from. Every insurer will typically offer a discount if you buy more than one policy from them.

Nevertheless, all the money you may get as discount may still pale into significance if compared with savings you'll make by buying your policies from several insurance companies.

2. Staying loyal to one insurance company for any period will surely get you savings. A number of insurers will give you discounts of around 5 percent once you stay with them for over 3 years while others will give you discounts for staying up to 5 years. A longer stay will attract bigger discounts.

Nevertheless although this is a good way to save, you may realize more savings if you ignore this discount and get another insurer..

Assuming your insurance rate is $1,500 and you get a 5 percent discount when you maintain a policy with them for about five years you will pay $1,500 - (5% of $1,500 or $75) = $1,425.

But if you do routine shopping for insurance you will very likely get an insurer within those years of waiting who'll give you a similar coverage at a lower rate. Then it would be anything but wisdom to stay put because you want to qualify for a discount down the road knowing that the expected discount is less than savings you will get immediately if you switch.

But believe it or not, most people can pay far less with another insurer if they'll only make out time to shop right.. To be sure you are not simply missing out better offers, get and compare insurance quotes from up to five insurance quotes sites..

3. You will lower your insurance rate if you have an excellent credit rating. A bad credit history will make you pay higher insurance rates. It's normal for insurance providers to expect that a person who fails in credit card payments will likely miss payments of insurance premiums. This translates to more risk to them and more expensive premiums for you.

4. Ask your agent personally about all the discounts possible with your present insurance provider. It is possible that your agent might have overlooked a discount you're eligible for. The only way to ensure it's false in your case is by telling your agent to list out all discounts that your insurance provider gives. Do not be shocked if you discover one or two that you have not heard of.

5. Comparison shopping would help you save thousands in insurance. An insurance quotes site could present quotes that show a range of over $2,000 between the highest quote and the lowest.