It seems like a cruel twist of fate that insurance, a necessity for protecting your finances, often costs more than you want to pay. When you spend hundreds of dollars each year on auto insurance, you want to make sure that you’re securing the lowest possible premium from your provider. You might associate affordable car insurance with lackluster coverage, but there are ways to lower your premium without sacrificing protection. Get the coverage you and your family need without putting a dent in your wallet with some lesser-known car insurance discounts and other savings. Keep in mind, however, that discounts vary according to provider and the state in which you live. Call your agent and ask whether your household qualifies for these worthwhile savings opportunities.
Home-auto bundles
You need insurance for your home as well as your auto. You can take advantage of that fact. One common discount offered by insurance carriers is a home-auto package. By purchasing homeowners and car insurance policies from the same provider, you can achieve great savings.
Good grades
You already know some of the benefits of raising a good student – your son or daughter with good grades has a better chance of getting into a good school and having a bright future. However, many consumers don’t know about special insurance discounts for young motorists. If a teen driver in your household is maintaining a high GPA, you might qualify for a lower auto insurance premium.
Multi-car coverage
Ever gone to the mall and purchased two pairs of shoes to save money? You can buy insurance in a similar fashion. Insuring multiple vehicles with your policy can work in your financial favor. Plus, it will simplify the process of paying bills.
Pay in full
It might be tempting to break your premium up into multiple smaller payments. After all, your premium might seem dauntingly large, and you’d rather not pay a giant bill. However, paying your premium in full has its advantages. You won’t have to worry about remembering your insurance bills each month, and you can save money, too. Many insurance carriers offer discounts for paying your premium in full.
Accident avoidance
This might sound elementary. Driving safely has obvious perks – being a cautious driver means you protect your well-being as well as that of your family. It also means you’re protecting your finances. If you’ve picked a steep deductible, you’ll have to pay a large amount before you can collect on a claim. But you should also be able to recognize the financial benefits.
Having claims can push your premiums up, now and in the future. You don’t want that. Plus, having an accident-free record can help in other ways. Some carriers will trim your deductible over time if you go years between claims. Some will forgive your first accident after years of safe driving. The bottom line is, safe driving pays off in money saved, in a variety of ways.
Unlike choosing lower limits or fewer types of coverage, discounts are an easy way to save money on insurance without compromising the safety of your family. Raising your deductible is another option for lowering your premium, but this amount needs to remain affordable since it must be paid before you can collect on a claim. Discounts don’t require financial gambles, and it’s easy to qualify for many of them. Find out from your agent whether you qualify for savings opportunities you’re not getting; you’ve got nothing to lose.
Check Out:
- Common Myths About Car Insurance
- Do You Need Separate Insurance Policies for Your Vehicles?
- The Ins and Outs of Car Insurance
- Do You Know That You Can Lower Your Car Insurance Costs?
- Five Ways To Save On Car Insurance Costs
Find out more on how to save on car insurance from Amazon:
- Ten Questions – The Insider’s Guide to Saving Money on Auto Insurance: Hidden Discounts Revealed
- How To Save Money on Car Insurance: The “must have” insider’s guide to saving money on car insurance in the UK
- Vehicle Insurance: Beware: Double Coverage Save $22,000 with the right policy
- Cheap Insurance for Your Home, Automobile, Health, & Life: How to Save Thousands While Getting Good Coverage
