While you may be tempted to chisel away at the coverage your auto insurance plan offers in order to enjoy a lower monthly premium, giving in to this temptation is a bad idea. After all, you won't really be saving money if you find yourself dealing with a ton of out-of-pocket expenses after an accident because your insurance policy does not offer adequate coverage. Thankfully, it is possible to have the best of both worlds in this situation with the help of the tips below. These will help you cut your monthly costs without compromising your coverage in the process. 

Ask About Safe Driver Discounts

Most insurance companies now offer some version of a safe driver discount. While some companies still make use of devices that have to be plugged into your car, most now offer the ability to simply download a mobile app onto your smartphone or other mobile devices in order to take advantage of discounts that reward you for your safe driving habits. Just keep in mind that you will lose these discounts if you discontinue use of the data collecting app so be sure to keep the app downloaded to your phone even after the discount has been applied to your policy.

Sign Up For A Defensive Driving Course

Insurance companies are all about managing risk. After all, the fewer people who file claims against their insurance policies, the more money the insurance company makes. This is precisely why many insurance companies reward drivers for taking a defensive driving course. When inquiring about this type of discount you should be aware that there is typically a time limit associated with your ability to qualify for the discount. Consequently, you may need to repeat the course in the future in order to continue qualifying for the discount once your policy is set to renew.

Consider Upgrades To Your Vehicle

Safe vehicles go hand in hand with safe drivers when it comes to minimizing the risk of filing a claim against your auto insurance policy. Consequently, making safety-related upgrades to your vehicle can be a great way to qualify for lower monthly premiums. For instance, many insurance companies will offer discounts if you choose to install a backup camera or an anti-theft system. 

Stick With The Same Company When Possible

In addition to minimizing risk whenever possible, insurance companies also recognize the importance of retaining customers. This can be difficult at times since people are often encouraged to shop around frequently for lower insurance rates. That is why many companies are now choosing to reward their loyal customers with a discount simply for choosing to remain with the same company for a certain amount of time. How long you must be with the company and how deep this discount is will vary from company to company so be sure to ask your insurance agent about loyalty discounts when purchasing a new policy. Contact an auto insurance company to learn more.