More money savings tip when buying car insurance:

5. Don't buy your newly licensed teen driver a new car. Let them drive around a modest car that doesn't require physical damage coverage. Teen drivers are far more likely to get into a wreck than an adult driver. Their rates reflect that.

6. Have your insurance agent check the rates on the new car you are buying, before you buy it. Let's face it, we don't always think of the expenses of a new car when we're test driving it for the first time. When that new car smell hits you for the first time, sometimes all rational thought goes out the window. But if you don't want to be surprised when your bill comes for the new car's insurance, do a little leg work on the front end.

7. Discounts, discounts, discounts. Companies are offering discounts for all sorts of things now days. The more discounts you qualify for the less you will pay for insurance. Do you own a home? Do you have a clean record? Are you claims free? These are just a few of the discounts that might be avalible.

8. One way not to save money is to skimp on the important coverages. Your liability insurance is one of the two most important coverages on your car insurance policy. In an instant something terrible could happen and everything you've worked for could be gone if you don't have good insurance. Now I can't tell you how much liability insurance to buy I can only recommend you buy as much as your car insurance company will sell you. Most companies offer up to $500,000 of liability insurance but some are now going as high as $1,000,000 or higher. Buy it.

The other coverage I think is vital is uninsured/underinsured motorist coverage. Buy the same amount of coverage as you do for your liability insurance. Look, not everyone buys insurance. And many of the people that buy insurance only buy the state required limit of $25,000 of bodily injury insurance. How far will $25,000 worth of insurance take you if you are taken to intensive care for a few days following a car accident? After a couple of weeks of physical therapy do you think the $25,000 the other guy's insurance company pays you will pay your medical bills? What about your lost wages?

Thanks for reading!