Auto insurance companies offer premium reductions, special insurance rates or discounts. These you should take advantage of to save even more on your auto insurance. Here are some of the premium reductions, special insurance rates or discounts that you can avail of.
a. Low mileage discounts
Your daily exposure to risk is determined by the distance from your house to work or school. It also determines vehicle use whether it be business or personal use. The average distance you drive annually or how far you commute from or to school or work is the calculation base of your premium. Therefore, you will have a lower premium if you drive in a shorter distance.
b. Good student discounts
Many insurance companies offer discounts for currently enrolled students with good grades and to those family members studying away from home. It\’s called \”Good Student\” discounts for your drivers who maintain a \”B\” (or 3.0) or above \”B\” average.
c. Multi-car discounts
You can reduce your premium by insuring two or more vehicles in one policy.
d. Other policies
Other policies include life insurance policy or homeowner\’s insurance policy. You can avail of discounts or reduce your premium by insuring both your home and vehicle in one company. As many insurance companies offer discounts for clients with more than one policy.
e. The safe vehicle discount
Many insurance companies offer discounts for anti-theft devices installed on your vehicle, like alarms and anti-lock brakes, as well as various safety devices, such as airbags and factory-installed mechanical seatbelts. Installing these devices can earn you discounts.
f. Age – Being at least 25 years old
Once a driver has turned the age of 25, auto insurance premiums tend to be lowered. This may be because the driver\’s rates are calculated in a different driver class. Risk assessors have determined that those who are under the age of 25 are more prone to accidents due to immaturity and inexperience at driving. The risk of at-fault accidents decreases when a person turns 25 as he or she is believed to become more responsible.
g. The good driver discount
Your insurance policy can be cancelled by your insurance company on your renewal if you got involved in an accident and/or you\’re given traffic tickets. Discounts are given to drivers who have not had accidents and received tickets for 3-5 years. Discounts are also given to those who have completed a driver\’s training course.
h. Avoiding installment fees
Sometimes, you can save on the premium by paying 6 months of an auto insurance premium in advance instead of monthly. Buying a 12-month policy can save you even more. This is because most insurance companies charge service fees for installment payments.
i. Prior insurance
Some insurance companies give discounts to those insured for the last 6 months or more continuously.
j. Good credit score
Insurance companies generally adjust rates by judging your risk, so a good credit standing can lower your rate.
k. Car pooling and use of public transportation
Some insurance companies offer discounts to drivers who often use public transportation and carpooling. The idea is the more you use car pooling and public transportation, the less you drive your vehicle, which means the less likely you are to have an accident.
Author Fred Gagnon specializes in providing tips and information on jewelries. He owns a wide collection of stunning, glamorous and elegant jewelries. To learn more about jewelries, accessories, precious metals and gemstones, visit Peridot Rings and Princess Cut Engagement Rings.
categories: auto insurance,car insurance,motor insurance,vehicle insurance,insurance,auto,car,vehicle,driving,car owning,insurance company,insurance policy,insurance coverage
