How to lower your auto insurance costs

Many motorists rarely think about their auto insurance policies. Among an adult's many monthly or annual expenses, once signed, an auto insurance policy is essentially forgotten. However, with a few simple tips, drivers can significantly reduce the cost of their auto insurance.

* Reexamine your coverage. As a vehicle ages, it's wise for men and women to reexamine that vehicle's coverage. Older vehicles without much market value, for example, probably don't need collision or comprehensive coverage. That's because your claims on older vehicles are not likely to exceed your deductible, so paying for collision or comprehensive coverage on an older vehicle is essentially paying for something you're never going to use.

Another area where motorists frequently spend more than they need is on personal injury protection. Chances are, men and women with health insurance are just duplicating coverage by paying for more than the bare minimum personal injury protection under their auto insurance policies. The same holds true for men and women with adequate life and disability insurance.

* Say so long to your muscle car. The type of vehicle you drive can also impact your bottom line. Drivers facing a financial crunch might want to look at what's parked in their driveways. In their 2012 ranking of the most and least expensive vehicles to insure, Insure.com found that high-priced vehicles with powerful engines that trace their origins to Europe garnered the highest insurance quotes. Such vehicles tend to crash more, leading to more expensive injuries while costing more to repair. The average cost of insuring the Audi R8 Spyder Quattro Convertible, for example, was more than $3,300 in 2012. Meanwhile, the four-cylinder Toyota Sienna LE minivan was the least expensive vehicle to insure in 2012, with owners paying an average of just more than $1,100 to insure the vehicle. So while that sporty convertible might make driving more fun, those good times come at a steep price.

* Put safety first. Insurance companies value a vehicle's safety features, and drivers can take advantage of that by putting safety at the top of their vehicle wish lists. The Insurance Institute For Highway Safety (www.iihs.org) annually ranks the safest vehicles by category, including minicars, small cars, large family cars, midsize SUVs, and a host of other categories. To save on auto insurance, choose a vehicle that the IIHS deems a winner when it comes to safety. These vehicles tend to boast a host of safety features, including air bags, anti-lock brakes and daytime running lights.

* Combine policies. Drivers who also own their homes should consider combining their policies if they haven't already. Allstate® claims that its policy holders who combine their insurance policies can save as much as 35 percent on homeowners insurance and an additional 10 percent on their auto insurance. Newlyweds who still have separate policies can save by combining coverage, as can drivers who also own boats or recreational vehicles that are not currently insured under the same policy.

* Let your provider know if you've changed your driving habits. Drivers who drive a lot tend to pay more for auto insurance than drivers who don't drive very often. That's because insurance companies offer low mileage discounts that reward drivers who don't drive very often. Let your provider know if you no longer have a long commute to work, are unemployed, participate in a carpool, or take public transportation to work. Any of those things might make you eligible for a low mileage discount.

Drivers looking to save money might be able to adjust their auto insurance policy to earn substantial savings.