Did you know you could be paying way too much for your auto insurance premiums? Auto insurance prices fluctuate between customers but the price can even fluctuate for one individual if you know how to get discounts on your premiums. Here are nine ways you may or may not have considered to start paying lower premiums today.
1. Combine your policies.
If you have one company for your homeowners insurance policy and a different company for your auto insurance, you could be missing out on some savings. When you combine your two policies into one, your insurance company offers a multi-policy discount. Depending on the company, you could save hundreds of dollars each year and save yourself some hassle by simply having your car and your home on the same policy.
2. Take a defensive driving course.
Most auto insurance providers offer customers a discount if they take a defensive driving course. In many cases, this course is inexpensive and simple. It just takes a few hours of studying and classroom time. However, the course is good for three years of discounts at most auto insurance providers. After the three years are over, you can simply take it again and reapply for the discounts. Even if your insurance company does not provide a discount for this, it doesn’t hurt to have the information that these courses teach for extra safety behind the wheel.
3. Be a good driver.
One of the worst things you can do for your auto insurance premium is to get traffic tickets or get into an accident that is your fault. Your premiums will shoot up and your policy may even get cancelled depending on your record. On the other hand, maintaining a good driving record will keep your premiums low and it may even qualify you for a discount on your auto insurance premiums.
4. Install safety features.
The high cost of medical bills has been known to be one of the reasons for high auto insurance premiums for customers. That is why auto insurance companies encourage customers to get safety features in their vehicles. If you have existing airbags, antilock brakes, antitheft devices and more in your vehicle, make sure your auto insurance company knows about it. If you don’t have those items, consider having them professionally installed to qualify for a discount that could save you hundreds of dollars a year.
5. Get a good student discount.
If you are in college and you do well in your classes, your auto insurance company may offer a “good student” discount. Since this feature varies between vehicle insurance companies where it is available, it is best to contact your provider for specific information.
6. Stay with the company.
Many auto insurance companies will honor your loyalty with a discount on your premiums. If you have been with your company for a few years and you are finding better prices elsewhere, go to your auto insurance agent with the lower prices and see if they will match it. Many times the company will match it or even beat it just to keep your business.
7. Get a safer vehicle.
A large portion of your insurance premium depends on the type of car you own. If you are considering getting another car and getting rid of your current one, consider getting one that will cost less on your premiums. Cars with four doors, for instance, typically have lower premium prices than cars with two doors. Check the safety ratings to find one that is recognized by the Insurance Institute for Highway Safety for its safety features if you are serious about getting a discount.
8. Park in a garage.
Auto insurance companies consider your vehicle safer if you park it in your garage each night. This could save you money on your premiums if you alert your agent to the fact that you have a garage for your vehicle.
9. Get the senior discount.
Restaurants offer senior discounts and so do many auto insurance companies. If you are a senior citizen, there is nothing wrong with contacting your agent to see if you are getting the senior discount. Depending on the company, this could save you hundreds of dollars on your premiums each year.
With everybody looking for ways to cut corners and make ends meet in these trying financial times, looking for discounts where you can get them is one way to make this happen. Your auto insurance policy is no exception. While one of these individual discounts may not mean huge savings for your wallet, combining more than one of these discounts may be a noticeable change. Besides, every little bit counts so there is nothing wrong with taking some time out of your schedule to see if you qualify for any of these discounts.