Car Insurance Discounts
If you’re like most people, you think you pay too much for car insurance. That’s understandable. You are paying for a product that you don’t want to buy. What do you really get for your hard earned money? You are getting a piece of paper that with a promise from the car insurance company that they will pay out in the event you have a car accident. Let’s be honest, it’s a promise that the car insurance company does not want to keep. Of course car insurance is a necessary evil but you still want to do all you can to get your monthly premiums down. Below we will list various insurance discounts that are offered by policy providers.
Marriage Discount – Did you know that married couples get lower car insurance rates? Nobody expects you to get married to save some money on your car insurance but if you purchased your policy prior to your marriage, you want to make sure that you and your spouse get on the same policy. If your spouse does not have a license, you will still want to notify your insurance carrier about your marriage. Married couples are viewed as being more responsible and this is why they receive lower premiums.
Multi-Policy Discount – Do you own a home or rent an apartment? If you have your homeowners or renters insurance with the same insurance company as your car insurance, you will receive a multi-policy discount. This discount might not always apply to your car insurance. Sometimes the insurance carrier will only apply the discount to the homeowner’s policy but the point remains the same. If you have your insurance and homeowners insurance with the same company you will save money.
Defensive Driving Discount – This is without a doubt the easiest way to receive an insurance discount and save a bunch of money. In many states you can receive a discount for taking an approved defensive driving course. These course are usually 6 hours long and can save you up to 10% on your insurance. This defensive driving discount normally lasts for three years. The course has become so popular that some states have even allowed it to be offered online. Some of the states that allow the online course include New York, New Jersey, Texas, Delaware, Kansas, and North Dakota.
Mature Driver Discount – The mature driver discount is very similar to the above mentioned course. The difference is that it only applies to drivers aged 55 and above. This course is available online in over 19 states. The mature driver course is usually less expensive than the defensive driving course.
Multi-Car Discount – Well, if you have more than 1 car your monthly bills will be higher but the premium for each car is less. This is another reason why married couples should always be on the same policy. They will receive the marriage discount and receive a multi-car discount.
Safety Equipment and Anti-theft – Does your car have any safety equipment such as anti-lock brakes (ABS) or airbags? What about a car alarm or tracking device? If your car comes equipped with safety equipment, you have a greater chance of walking away from an accident unharmed. This means that your car insurance company will not need to pay out as much for medical expenses. Therefore you receive a discount. The same goes for anti-theft devices. If your car has device that prevent it from being stolen or help it get recovered in the event of a theft you will receive a discount on your comprehensive coverage.
This sums up the majority of discounts that are available but other do exist. Some companies will offer discounts if you belong to certain organizations or even own stock in certain companies. The best thing to do is review your policy and contact your insurance agent. You could literally save hundreds of dollars by having a short conversation with you insurance provider