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A new survey released in mid-October by LowerMyBills.com shows that 79 percent of consumers feel that they are paying too much for their auto insurance. The same survey also reports that more than half of consumers have tried to reduce their auto insurance rates in the last year.

The study’s authors point to the economic recession as the main reason why consumers are becoming more proactive when it comes to reducing the amount of money they pay each month on car insurance. According to the study’s findings, 54 percent of consumers said that they have tried within the last year to reduce their auto insurance premiums. That leaves 46 percent of consumers who have not tried to do this. But of this group, 83 percent said that they do plan to try to reduce their auto insurance rates during the next six months.

The survey also revealed that a significant number of drivers lack the information they need to make changes in their auto insurance. A total of 45 percent of respondents said that they do not understand how to find the best coverage for their own situations. An additional 49 percent of respondents said that they were not familiar with the discounts offered by their insurance company, and did not know for which of these discounts they qualified. Seventeen percent of policyholders also admitted to never taking the time to study their coverage in an effort to obtain auto insurance that better fits their financial needs.

For those consumers who do want to reduce their auto insurance rates, there are plenty of ways to do so. The best is to avoid reckless driving habits and keep a clean driving record. Insurance companies offer discounts to drivers who don’t have speeding tickets or accidents because they are less likely to file claims in the future. Consumers can also save money by bundling multiple insurance policies with the same company. Insurers often provide discounts to customers who take out both their home and auto insurance through them.

To reduce their monthly premiums, drivers might also consider increasing their deductible. The deductible is the amount of money that drivers have to pay before their insurance company will cover the rest of the costs of an accident. Drivers with higher deductibles generally pay lower monthly premiums. It’s important, though, for consumers to avoid taking on a deductible that they would struggle to pay.

Regardless of the struggling economy and the rising cost of auto insurance, policyholders should continue to seek out the best auto insurance coverage they can for the best price. The rising popularity of auto insurance comparison websites makes it easy for anyone to do this with the click of a mouse.