How to Get All of the Discounts Available on a Car Insurance Policy
Car insurance is expensive and is a major cost of operating a vehicle. Even with the high costs, there are discounts available to you for multiple reasons. The best way to get all of the discounts that you are entitled to is to ask for them. "For example, if you haven't had an accident in several years, only drive a minimum amount of miles each year or store your vehicle in a safe and covered location, your auto insurance company will most likely give you a discount," according to Bankrate.com.
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Instructions
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Get quotes from multiple insurance companies and agents. With some insurers you can check the prices online, but for others you will need to make a phone call. Have all of your desired coverage information in front of you, so you can compare policies. It is too easy for some insurers to quote a lower amount of coverage and allow you think that you are saving money. If you are quoted a lower rate, ask the other company to beat it.
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Check to see if the insurance companies offer multipolicy discounts. Many insurers will offer substantial discounts for placing both your homeowners or renters insurance with the same company that carries your auto insurance. Also check to see if a term life policy may qualify for multipolicy discount.
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Determine if you are eligible for any group discounts. These are easy to overlook, but some companies offer discounts for affiliation with different groups. Your employer may be a source of a discount, or perhaps a trade union you are involved with will get you a better rate. Maybe the college that you graduated from is a group that your company discounts policies for. Check to see if they offer a military discount if you are or were in the armed forces.
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Find out if your car is equipped with any safety or security equipment. Depending on the state you live in, you may be able to get discounts for safety equipment that your car was manufactured with or that you have installed. Cars equipped with air bags and anti-lock brakes are often discounted. Either factory- or owner-installed safety equipment may qualify for a lower rate on comprehensive coverage.
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Stay with one company for some time. Insurance companies value their repeat customers, so they often give them discounts for renewing their policies. Discounts are also available for paying every six months or each year. This is a form of advance-payment discount.
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Ask to see if there are any other discounts available to you. Each company varies in what they will give a discount for, so it is wise to check what is available.
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Tips & Warnings
Ask for a discount when your children go off to college. You may also receive a discount if your children are good students, with a GPA of 3.0 or better. If you are retired, check for a retiree discount on your policy.
Do not underinsure yourself. Always carry enough liability insurance to protect your assets in the event of a major accident.
