Are you spending more than others on the auto insurance? Well, you need to explore those missing advantages and discounts that are available to you. However, you have not availed them. There are a variety of available discounts while buying car insurance.
We miss them only due to unawareness. Here are our suggestions that help you to put some cash back and spend on some other important activities.
Do not choose a too-low deductible
Your deductible is the amount that you agree to pay when you have a claim before the insurance company steps in to cover the rest. If you choose a too-low deductible, you agree to pay a considerably higher insurance premium. It will not only harm you in your monthly expenses, but you will also face problems in getting claims from the car insurance companies.
We suggest a good deductible to control the car insurance premium costs that will help you save money and manage the monthly expenses. Selecting a higher deductible means you are accepting more risk, and therefore you are less likely to file a claim. The higher the deductible, the lower the premiums will be.
However, the amount should not be too high that you cannot afford it. If you are a careful driver who has never been in an auto accident, it is a good idea to choose a high deductible amount. This is because it will lower your premiums significantly, but the chance of ever having to pay it will be low. More expensive cars often require higher premiums.
In order to make significant savings, you can opt for a higher deductible. In simple terms, choose a deductible you know you can comfortably afford even in emergency situations. The last thing you want is for your car to be sidelined for a long time simply because you cannot afford to pay your deductible.
Do not miss the advantage of available discounts
When you go for buying the car insurance, you find numerous discounts around you. However, you do not avail them because you are unaware of them, and no one guides you as well.
Some of the major discounts are:
Discounts when you have a good driving record
When you have a good driving record, you can get some wonderful rewards from your car insurance company. Some of them are:
- Rewards when you have three years of zero at-fault accidents.
- You have a clean driving record for three years.
The rewards when you are a good student
If you are a young driver and maintain a good GPA record, you can get the following rewards from the car insurance company:
- If you are a male, good student, of age 20, own one car and driver, can get a discount of up to 15%.
- For a female student, who is 20, has a good GPA, and own a car and driver, the discounts are up to 10% on female car insurance.
Discounts when you attend a defensive driving course
When you take the classes of defensive driving course, you can get the following discounts:
- If your age is between 16 to 25, you will get a 15% discount on the auto insurance premium.
- Senior drivers can avail up to 5% discounts. If you are retired and will driving less often, you qualify for the low-mileage discount. Other auto insurance companies have a senior driver discount for people who reach a certain age. If you have maintained the same insurance company for many years, you may also be eligible for certain loyalty discounts.
Discounts when you bundle your auto insurance with home insurance or rental insurance
Insurance bundling is when insurance companies combine different types of insurance policies such as home and auto insurance in one package. When you need home insurance or rental insurance as well with general auto insurance, you can get a 15% discount on consumer rates. So, it’s easier to deal with one insurance company than with two or more. Second, you get to pay a lot less on all the combined policies.
Multi-car discount with parent policy:
It is possible to add your teenage child to your automobile insurance coverage as a parent. In many states, this is the only option for people under 18 years, since the law does not allow them to take their own policy. Such a move will obviously have its pros and cons. On the pro side, the rates might be cheaper than getting a new policy, especially if the parents have a good track record on their policy. Another benefit is that a parent will qualify for a multi-car discount.
Discounts when you have the maximum safety features
You can get safety features discount if your car has the following features:
- Daytime running lights
- Anti-theft systems
- Anti-lock brakes
- Rear-view camera
- Emergency response systems
Discounts when you drive occasionally
You can save a huge amount of money if you convince the insurance company that you do not drive for routine duties. Some car insurance companies also offer you a “pay-by-the-mile” insurance package that can help you get a discount of up to $400.
Do not stick with the same auto insurance plan
Switching from one policy to another or buying the bundle can help you improve the premiums. Sticking with the same policy shows that you are not interested in the current policy, and the good companies do not bother it because they are getting some good financial results.
Do not opt for a monthly payment plan
Monthly payment plans do not work for you and make your car insurance expensive. You should try to pay in a minimum of six-month installments. It will help you get a 5% to 10% discount on your insurance premiums.
Overall, first-time buyers are very excited when they are selecting a car insurance company. This excitement helps them forget discounted rates, pay extras to feel good in monthly payments, and select too-low deductibles for getting good amounts in claims. The best practice in this regard is to get awareness about the general auto insurance, its coverage, the available discounts, and other rules and regulations.
Through this technique, you can improve your policy and get excellent claims in case of an accident. Visit our website for free auto insurance estimate, go through all your options, and compare what best suits your needs, not just for car insurance but also for all kinds of insurance plans. Call us today for a comprehensive car insurance quote!