America’s biggest car insurance company reveals 6 ways you can cut your bill – how you did at school could save you 25%

THE BIGGEST car insurance company in the US has revealed six ways drivers can cut their bill – and some tips might surprise you.

State Farm has provided necessary advice for first time car insurance buyers – including what to know regarding policy terms, coverage and potential discounts.

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State Farm reveals strategies for saving money, including a student discount[/caption]

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How America’s largest car insurance company helps first-time buyers cut costs[/caption]

While buying a vehicle can be exciting, getting car insurance for the first time could be a little mind boggling.

Deciding which coverage to include and the deductibles you want and need are just two examples, and there are also the potential to make mistakes.

The first thing to understand about auto insurance is that there are a variety of factors that can influence coverage and cost, such as age, marital status and home ownership.

According to State Farm, drivers should first understand available and required coverage, such as the types of coverage available – such as liability, uninsured motorist, collision, comprehensive – and what is required in your state or by your lender.

You should also under policy terms, such as premiums, deductibles, exclusions, limitations, policy start date and policy end date.

Need to know policy terms

• Premium: The amount you pay at the interval you select (monthly or semi-annual).
• Deductible: The amount you are responsible for paying after an accident.
• Exclusions and Limitations: Specifies what your insurance does and does not cover.
• Policy Start Date: The day your insurance takes effect.
• Policy End Date: The day your insurance coverage expires.

Furthermore, it’s important to utilize tools such as the State Farm mobile app or customer service options with similar providers, to access your policy, report claims, pay bills, or contact your agent.

Discounts are a thing and are something you should ask about – with potential savings options, safe driver discounts, driver training discounts all available.

What’s more, a good student discount allows you to save up to 25% on car insurance.

Keeping paperwork is another important point, such as a valid driver’s license, bank account information, vehicle details (VIN, make, model, year), and loan information when setting up your policy.

And finally, schedule annual policy reviews, as it’s smart to regularly review a policy to adjust coverage, update needs and explore additional savings as your circumstances change.

According to CNBC, State Farm is the largest car insurance company in the US with nearly $68 billion in direct premiums written in 2024 and a 18.87% market share.

Founded in 1922, State Farm is also the largest homeowners insurance company in the country and is widely known for ranking above average for customer satisfaction on J.D. Power’s survey of the claims process.

However, State Farm does not offer new policies in the states of Massachusetts or Rhode Island.

HIKED UP

Motorists nationwide are facing rising car insurance costs – thanks to President Trump’s 25% auto tariff on imported vehicles continues to impact consumers.

Fears across the industry have been rising in recent months after tariffs went into effect, meaning imported goods, like cars, will be more expensive – with much of those extra costs likely to be passed to customers.

But as the cost of cars increases, the rates on insurance will likely follow suit, too.

According to Kiplinger, known for their business forecasts and personal finance news, tariffs could raise your car insurance fees significantly, with some areas to be hit harder than others.