How to Save Money on Your Next Auto Insurance Policy?
September 6, 2008 at 7:47 pm | In benefits, companys, insurance | Leave a CommentTags: credit, insurance, premium, rewards
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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 6000 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.
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 6000 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.
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