Drivers often seek out low-cost car insurance, but they could be exposing themselves to greater financial and legal risks. In an interview with MoneyGeek, Producer Myles Trempe explained why drivers should focus on coverage for their particular needs versus the cheapest option as well as ways to lower car insurance costs.

“If drivers don’t get the right type of coverage, they could end up paying more out of pocket in the event of an accident or loss,” Myles said. “And drivers should always work with a reputable, highly-rated company.”

He suggested the following strategies for drivers to save on their auto insurance:

Bundling auto with their homeowners or renters insurance. Most insurers will offer a discount for bundling.
Increasing their deductible will bring down their premium.
Eliminating coverage they don’t need. For example, if your car is old, you might not need collision coverage.
Ensuring they have a good credit score. A credit score is one factor in how insurers set rates.
Avoiding speeding and other traffic citations that could increase rates.
Working with an independent insurance agent who can “shop around” for you to find the best rate while ensuring you have the coverage you need.

Read the MoneyGeek article here.