If you've been struggling to cover the cost of auto insurance, you're not alone. A May survey by Policygenius found that 43% of insured drivers were paying more for car insurance during the spring of 2023 than they were a year prior.

If you're tired of having to cut back on other bills to keep up with your auto insurance premiums, don't just resign yourself to the high costs you're facing today. Instead, look into options for lowering your costs. Here are some tactics that might work well in the new year.

1. Shop around

There's absolutely no rule stating that you must use the same auto insurance company year after year. You're also not guaranteed to get the best car insurance rates by virtue of sticking with the same insurer.

If you're tired of paying a fortune for car insurance, spend some time shopping around for a new policy. Talk to different insurers and compare costs, keeping factors like your deductible in mind (generally speaking, the higher it is, the less you'll pay in premium form).

2. Bundle with your homeowners policy

Own a home as well as a car? You need to insure them both. And using the same company for both an auto and homeowners insurance policy could result in a nice amount of savings.

Read more: check out our picks for the best car insurance companies

That said, bundling won't always be your best bet. And if you're bundling now and aren't seeing the savings you want, it could pay to start seeking out quotes on both policies from different insurance providers.

3. See if it makes sense to pay per mile

Many people are continuing to work from home these days. Or maybe your job has always been remote and you barely do any driving in the absence of a commute.

In that case, it pays to explore your options for car insurance that has you paying for every mile you drive. These policies generally don't value out well for drivers who spend thousands of miles a year on the road. But it may be that you typically only drive about 10 miles a week to run errands. If so, a pay-per-mile policy could help trim your costs.

4. Let your insurer know you've secured parking

Generally speaking, the cost of auto insurance for drivers in a big city tends to be higher than the cost of auto insurance in a quiet suburb. With the former, the likelihood of damage or theft may be greater.

Having a car in a big city can also be a hassle parking-wise. After all, when you're driving home after a day of work, do you really want to spend another 20 minutes circling the neighborhood for an open parking spot?

If you're tired of that game, you may have decided to start paying for a monthly parking garage spot in 2024. And if so, you should definitely let your insurer know. They may consider that a more secure means of housing your car overnight -- and give you a reduced premium rate because of it.

Auto insurance may be an unavoidable expense for vehicle owners. But that doesn't mean you can't do your part to lower your insurance costs.

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4 Ways to Lower Your Auto Insurance in 2024 was originally published by The Motley Fool