Auto Insurance - Money-Saving Auto Insurance Discounts, Reductions And Special Rates
Auto insurance companies offer discounts, reductions and special rates on auto insurance. By taking advantage of these, you can save even more on your auto insurance. The following are some of the discounts, reductions and special rates offered by most insurance companies.
a. Low mileage discounts
The distance from your house to your work or school determines your daily exposure to risk. It also determines vehicle use, whether you use it for personal or business use. Your premium is calculated based on the average distance you drive annually or how far you commute from to work or school. Therefore, the shorter the distance you drive, the lesser your premiums will be.
b. Good student discounts
Many insurance companies offer discounts for currently enrolled students with good grades and to those family members studying away from home. It’s called “Good Student” discounts for your drivers who maintain a “B” (or 3.0) or above “B” average.
c. Multi-car discounts
You can reduce your premium by insuring two or more vehicles in one policy.
d. Other policies
Other policies include life insurance policy or homeowner’s insurance policy. You can avail of discounts or reduce your premium by insuring both your home and vehicle in one company. As many insurance companies offer discounts for clients with more than one policy.
e. The safe vehicle discount
Discounts can be earned by installing anti-theft devices and safety devices in your car. Examples of anti-theft devices are anti-lock brakes and alarms, safety devices are airbags and factory-installed mechanical seatbelts. Many insurance companies offer discounts for this devices installed in your vehicle.
f. Age - Being at least 25 years old
25 years old and above are believed to be more responsible, so the risk of at-fault accident decreases, and auto insurance premiums tend to be lower. Risk assessors have determined that those under 25, due to their immaturity and inexperience in driving, are more prone to accidents. Driver’s rate is calculated in a different driver class.
g. The good driver discount
Avoiding traffic tickets and accidents can greatly decrease your premiums. Discounts are offered to drivers who have not had accidents or received tickets in the last 3-5 years. Drivers who have completed a driver’s training course can also avail of discounts offered by many insurance companies.
h. Avoiding installment fees
Sometimes, you can save on the premium by paying 6 months of an auto insurance premium in advance instead of monthly. Buying a 12-month policy can save you even more. This is because most insurance companies charge service fees for installment payments.
i. Prior insurance
If you have been continuously insured for the last 6 months or more you can also avail of discounts.
j. Good credit score
Usually, insurance companies adjust rates by judging your risk. Meaning, if you have a good credit score your rate can be lowered.
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 is an expert on providing tips and information on jewelries. He owns a wide collection of stunning, glamorous and chic jewelries. To learn more about jewelries, accessories, precious metals and gemstones, visit Peridot Rings and Princess Cut Engagement Rings.
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