Car insurance is a necessity for every car owner. It's not only a good idea, but it's also the law. However, just because you have to pay money for car insurance doesn't mean you have to let it drain your bank account. There are a variety of different ways to save money on your car insurance without losing your most important coverages. Here are just some of the options you might want to look at if you'd like to reduce your monthly premium.

Can You Get Other Family Members to Join the Same Company or Use the Same Company for Different Policies?

Many companies that offer car insurance also offer other types of insurance like renter's insurance, for example. Is there another policy that you have with a different company at the moment? Talk to your car insurance agent and see if you are entitled to a discount on your policy if you buy another one through the same insurance firm.

Additionally, some car insurance providers may also provide a discount if the entire family is insured by the same company. This is especially true if you and other family members are sharing certain cars. If you have a family member currently using a different insurance provider, talk to them about joining up with you and you both might be able to save some money.

Do You Really Need That Low of a Deductible If Your Car Is Old Or Paid Off?

When you first insure a brand new car, you may want a low deductible so that you don't have to pay the repair bill on a brand new car if something were to go wrong. But a low deductible means a higher premium, and if you've paid the car off or it's just getting old, you may no longer need to have that low of a deductible. In fact, you might just buy a new car again anyway if your old one does get in a wreck. Talk to your insurer about available options on older cars, including dropping certain optional coverages or raising your deductible.

Some Car Insurers Will Monitor You for a Safe Driving Discount

Many car insurance providers today are offering safe driving discounts that the policyholder receives after having their driving temporarily monitored by the provider. The insurance company can send you a small device that plugs into your car and can monitor your driving capability. If you slam on your brakes frequently, the insurance provider may see this as a sign that you might not be driving safely. If you drive safely and avoid pounding the brake pedal, you can send the device back to the insurance provider and you might get a discount added to your policy.

Contact a car insurance provider for more information.