The first thing you need to do when it comes to getting the cheapest car insurance rate is to make a list of all the discounts you can get. Here are some of the biggest money savers you can use to get the Cheapest Car Insurance. The Deductibles means Raising your insurance deductible from $200 to $500 can save you 30% on your insurance premium. Raising it to $1,000 could cut your premium in half. The type of automobile you drive determines the insurance rate you pay. The difference in insuring an expensive sports car and an inexpensive family sedan can be as much as $1,000 a year. Learn More Here.