Auto insurance discounts are legal in the United States. Most insurance companies offer you such discounts when you qualify for any. However, it’s your right to ask from your insurer of any available discount openings. If there are, take steps to qualify for any of them and save more on insurance. If you decide to fend ignorance, you may end up paying more than you should.
Now, what are the available discounts in the car insurance marketplace?
Multi car insurance discount
If your family has two or more vehicle, it’s advisable to buy the policies together from one insurance provider. Getting all the policies under one contract will save you up to 10%. You may be tempted insuring your car with your neighbors, this is not acceptable. You must have an insurable interest in any car you insure, if not you render your policy void.
Homeowner or Renters Discount
If you own a house or condominium, or renter and needs insurance, its better you buy your home or renters insurance together under one package from one insurer. When you do this, you will get price reduction.
Multiple policy discount
Apart from your home and renters, if you buy more than one policy including your car insurance together from one provider, you will qualify for multiple discounts. Your saving may be so much beyond you wildest imagination.
Mileage reduction discount
If you don’t drive regularly, you may be considered a low risk driver and rewarded with a cut in cost. It’s assumed that the more you drive, the higher your risk of road hazards. For this you pay more.
Good student discounts
Student drivers who perform brilliantly at school are often rewarded with discounts to encourage them. Usually, the discount is about 5% off the premium.
Safe driving discounts
Your driving history is one major factor in costing. If you drive safely for six months without any major traffic offence, you will qualify for discount. If you insure with some insurance companies, you may have your deductible reduced by $100. As you maintain a clean driving history, you may over the time get your deductible wiped out.
Auto security and safety discounts
If you improve the security and safety of your vehicle with anti-theft device, security alarm, anti-lock brake system, and airbags, you will get discount up to 20% off your rate.
Advance premium payment discounts
If you can afford it, pay your premium in advance. This is another good way to save on premium.
Senior citizens discounts
It’s assumed that drivers above 55 rarely drive much or keep late nights. For this reason senior citizens are rewarded by some insurance companies. If you are within this age, find out from your insurer if there’s any discount opening. If there is, get it.
The truth is that whatever you do to lower the risk of your vehicle will get you a reduction in cost. Therefore, explore all the means to save while still getting quality coverage.
I hope you’ve found this piece helpful.
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