vehicle that doesn’t encourage fast driving,” says Russ Rader, spokesman for the Insurance Institute for Highway Safety in Arlington, Virginia. But an older car isn’t always your best bet. Newer models have better safety features, such as air bags and automatic seat belts, which could also entitle you to a discount.
RAISE THE DEDUCTIBLE
You might be able to lower your premium by raising your deductible. Choose an amount you could comfortably handle in the event of an accident. If your child is driving an older car, it might be worthwhile to decline collision and comprehensive coverage for greater savings, suggests Passmore.