Subscribe Feed (RSS)Auto insurance companies offer different rates as well as discounts and reductions. By taking advantage of discounts or premium reductions, or special insurance rates, you can save even more on your auto insurance. Here are some examples.
a. Low mileage discounts
Your daily exposure to risk is determined by the distance from your house to work or school. It also determines vehicle use whether it be business or personal use. The average distance you drive annually or how far you commute from or to school or work is the calculation base of your premium. Therefore, you will have a lower premium if you drive in a shorter distance.
b. Good student discounts
Students who are currently enrolled and have good grades receive a discount on auto insurance. Many insurance companies offer “Good Student” discounts for young drivers who maintain a “B” (or 3.0) or above “B” average. Discounts are also offered to those family members who are attending school away from home.
c. Multi-car discounts
You can reduce your premium by insuring two or more vehicles in one policy.
d. Other policies
By availing of other policies with the same company your premium will be reduced. Life insurance policy or homeowner’s insurance policy are examples of other policies. So if you insure your vehicle and home with the same company you will be entitled to a discount.
e. The safe vehicle discount
Installing safety devices and anti-theft devices can earn you discounts. Many companies offer discounts for various safety devices, such as air bags and factory-installed mechanical seatbelts, as well as anti-theft devices installed on your vehicle, such as alarms and antilock brakes.
f. Age – Being at least 25 years old
Auto insurance premiums tend to be lower once a driver turns 25 years old. This may be because the driver’s rates are calculated in a different driver class. Risk assessors have determined that drivers below 25 years old are inexperience driver and immature so is more accident prone. So as the person becomes more responsible the risk of at-fault accident decreases.
g. The good driver discount
Your insurance policy can be cancelled by your insurance company on your renewal if you got involved in an accident and/or you’re given traffic tickets. Discounts are given to drivers who have not had accidents and received tickets for 3-5 years. Discounts are also given to those who have completed a driver’s training course.
h. Avoiding installment fees
Most insurance companies charge service fees for installment payments. So instead of monthly, you can save on premium if you pay 6 months of your auto insurance premium in advance. Buying a 12-month policy can save you even more.
i. Prior insurance
Some insurance companies give discounts to those insured for the last 6 months or more continuously.
j. Good credit score
A good credit score can lower your rate as insurance companies usually adjust rates by judging your risk.
k. Car pooling and use of public transportation
Some insurance companies offer public transportation, as well as carpooling discounts. Because the more you use public transportation and carpooling, the less you use your car. And it’s unlikely for you to have car accident, because you drive less.
Author Fred Gagnon specializes in providing tips and information on jewelries. He owns a wide collection of beautiful, glamorous and fashionable jewelries. To learn more about jewelries, accessories, precious metals and gemstones, visit Peridot Rings and Princess Cut Engagement Rings.
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