As insurance rates climb nearly as fast as gas prices, more and more people are trying to find ways to save money with their vehicles. With a little investigation and a few phone calls, chances are you can find discounts that you never knew existed. So call around or search the web to find the best auto insurance discounts available from various companies. You never know what you might qualify for.
Increase Your Deductible
If you have the financial resources, it may also be wise to increase your deductible. This can often reduce your annual premium by ten to fifteen percent.
Payment Methods:
Some companies like to get the entire year’s worth of premiums in one lump sum. If you have the financial ability to do this, you may be eligible for a discount. If you can’t pay in one lump sum, see if there are discounts for electronic or direct payment from your checking account.
Additional Safety Features:
Choosing optional safety features on a new vehicle, or adding them to a used vehicle will save your money. Car alarms, anti-lock brakes, automatic seatbelts, side air bags, and any anti-theft devices may be beneficial.
Students and Schooling:
Nearly every insurance company offers the good student discount, which is available to full-time students that are averaging at least a B in school. There are also some companies that will give you benefits for continuing education, or taking defensive driving courses.
Infrequent Driver:
Logic says that the less time you spend behind a wheel, the less likely you are to have an accident. So, if you carpool, take public transportation, or ride your bicycle to work, check into the possibility of these discounts. Some companies will check your odometer yearly, and if you stay below a certain amount of miles, like 6,000, you could get a discount.
Have Good Credit
Surprisingly, a good credit history will also translate into lower insurance premiums. Studies have shown a correlation between credit history and driving records. Those with bad credit are considered to be less conscientious or less stable, and are therefore classified as higher risk drivers. People with stellar credit histories can reap the rewards of a lower insurance premium.
Housing and Garages:
The location where you live will also have a slight effect on your premium. For example, those who live in rural areas benefit from low crime rates and mild traffic and therefore cheaper premiums. If you live in the city try to lease garage space. This will lower your rates because your car will have less exposure to the elements…both natural and criminal.
Multi Policy Discount:
Once you have settled with a company that has favorable discounts, you might as well insure all your vehicles with them. Plus, look into moving your homeowners insurance to the company as well. Nearly every company offers multi-policy and multi-vehicle discounts.
Drive Carefully:
As technology and culture changes, there are new discounts and new charges offered all the time. Keep up to date on current trends, and research your policy each and every year. But perhaps the best discount is to always drive carefully. A clean driving record is one of the best ways to reduce your premium. Drive slow, drive defensive, don’t speed, and most of all, don’t drink and drive. You won’t just be saving money, you might be saving your life…
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