Are There Auto Insurance Discounts Your Insurance Company Doesn’t Want You To Know About?
Of course, your insurance company and agent want you to know about car insurance discounts. These days, the insurance business is very competitive. It has also had to become more competitive because it is so easy for consumers to access online car insurance rates on their PC or smart phone. However, if you have not compared insurance or even talked to your agent for awhile, neither of you may be aware that you can qualify for discounts that will save you a lot of money on your monthly premium.
Car Insurance Discounts
These are some of the discounts that you and your agent might overlook.
Low Mileage: If you only pull your vehicle out of the garage twice a week for a grocery trip, you may qualify for a low mileage discount. This might also benefit a teen driver who only uses his car to travel a couple of miles to school every day. If you have your teen driver as a driver on your own car, and he or she rarely drives, be sure and let your insurer know. If he or she can qualify as an occasional driver, it can take the bite out of your rates.
Auto and home insurance discounts: Some so-called discount car insurance companies cannot offer the best deal because they only insure cars. Larger companies that offer both home and auto policies are likely to offer a price break because they want all of your family’s personal insurance business. You can also look for multiple policy discounts if you need to insure a motorcycle, boat, or other property, or if you need renters insurance instead of home owners insurance.
Safer cars: Some people assume that cheaper and older cars must be cheaper to insure because they do not cost as much as newer and more luxurious vehicles. However, the truth is that moderately priced vehicles usually have the lowest insurance rates, and new cars may actually cost less to cover than older ones.
That is because auto insurance companies also consider the safety and track record of certain vehicles as much as the cost to replace them. If vehicle owners are less likely to make claims, that reduces the risk to the insurer. The cost of repairs in a local area also factor into the complicated formulas that insurers use.
Safety features: Besides purchasing cars that have been demonstrated to be safer, you may also be able to add some safety features to enjoy a better auto insurance rate. One example is an anti-theft system, but newer cars probably already come with that.
Take defense driving: This article does not include advice like drive safety and avoid accidents because that seems like something everybody already knows. However, if you do get a ticket, you may be able to take a defense driving class to prevent a rate increase.
Multiple policies: Larger insurers tend to offer discounts for bundling multiple policies with them. That is why you may get a better insurance rate from a larger company than a so-called discount auto insurance company. Some examples are multiple cars and drivers, home or rental insurance, business policies, etc.
Which Insurance Company Offers the Right Discounts for You?
Even major insurers do not all offer the same types and amounts of discounts. That is why it is important to shop around for insurance rates every year or so. You might contact a local agent or use a convenient online insurance rate comparison system.