Looking for the best car insurance quotes online? Here are some things to think about and look for before searching for a quote.

Some insurance companies will look directly at your actual credit reports when determining your rate, however most will use what is called an "insurance credit score." An insurance credit score is developed by using statistical techniques and methods to predict the likelihood a consumer will have a higher than anticipated loss. These are similar to what lenders use to predict the reliability of an applicant repaying a loan.

Insurance companies use many factors in determining your credit score. Here are some examples of those factors:

• Public records: bankruptcy, collections, foreclosures, liens, charge-offs, etc.
• Past payment history: the number and frequency of late payments and the days between the due date and late payment date.
• Length of credit history: the amount of time you have been in the credit system.
• Inquiries for credit: the number of times you have recently applied for new credit, including mortgage loans, utility accounts, and credit card accounts.
• Number of open lines of credit: the number of credit cards, whether you use them or not.
• Type of credit in use: major credit cards, store credit cards, finance company loans, etc.
• Unused credit: how much you owe compared to how much credit is available to you.

Your insurance credit score may differ from company to company, as they will use different factors in determining your premium. Notice that we call it an insurance credit score. This means that it encompasses many factors including credit.

Dropping Comprehensive and Collision coverage on older cars is a way you can to save money on your insurance policy. This type of coverage protects your car if it is damaged or stolen. Usually it is the cash value of the vehicle at the time of a loss minus the deducible. On older vehicles the value is lowered already by depreciation. You need to take into consideration the premium you pay, the value of the vehicle and the deductible you have. You may be paying more for the coverage then the vehicle is worth. If there is a lien holder on the car, you normally have to keep this coverage on the car until you pay off the loan. After the car loan is paid off it is your choice if to keep these types of coverage and at what levels.

Increasing deductibles is another way to lower your premium. A deductible is the portion of money you pay before the insurance company pays for damages or injuries. The higher your deductible is the less exposure the insurance company has, thus your premium will be lower. If you choose the highest deductible you can afford you may save hundreds of dollars over the term of your policy.

Buying a more economical car may help reduce your insurance.

Some companies give discounts if you do not drive your car as much. If you live close to your job you may get discounts for this lower mileage usage. Some companies may also list the car as an "occasional use" vehicle based on the mileage, which can reduce your premiums.