- Personal Finance
Auto Insurance Savings: A Comprehensive Review On Discounts
Many people nowadays want to get discounts and even freebies in their every day expenditure. Freebies are normally hard to obtain especially in the Finance department, I am sure you will be happy to learn that auto insurance saving is possible through various discounts offered on many insurance policies which will be elaborated in this hub.
Insurance is a number's game to every body and much more to the providers. Insurance providers do a lot of research before providing insurance coverage. They collect information on what type of auto insurance consumers who usually get involved in accidents. The results of this research indicated that engineers are the least likely auto insurance consumers to get involved in accidents. As a result of this research, engineers normally get lower rates as they are seen as lower risk drivers.
Another group that gets lower rates that is close to the Engineers' are Teachers. You may also ask the insurance company why these groups of auto insurance consumers normally get a lower rates when it comes to auto insurance. This will give you an idea of occupations that are considered low risk and why they get low cost on auto insurance policies. Your occupation might be one of them, so it does not hurt to do some shopping and research to learn on jobs that are considered low risk.
Professional Auto Clubs and Organizations
There are people who frequent restaurants and pay a lesser amount than the original charge, maybe you have experienced this yourself. One of the reasons this happens is those who get these kind discounts are a members of certain organizations that the restaurant is affiliated with and thus they offer discounts to clients affiliated with that too. This kind of discount that the restaurant offers applies also to the insurance business.
Certain organizations or clubs are affiliated with certain insurance companies. And the same way they do with the hotel or restaurant, they charge a specific percentage off the original policy rate to clients who are members of certain affiliations. In this case, discuss with your insurance agent what possible organizations or clubs are affiliated with the company to get you more savings.
Car Safety Features
Automatic seatbelts, anti-lock brakes, airbags, anti-theft safety gadgets, alarm systems, and other similar features integrated into your car are not only brilliant safety features that protect you while behind the wheel but also make you eligible to score for discounts on your auto insurance policy. It will be helpful to do some research on this area and get to know how your insurance company stipulates on this specific area.
Driver Assumes Higher Risk
Asking for a higher deductible which the insurance company can provide if you agree with them that they pay pay for the heavy hits and you you pay for the little bumps and dings. This is one way to get lower auto insurance rate in the same way you get lower premium rates by dropping collision coverage on your older car.
You have to know that flashier and expensive cars lead the company to charge you a higher rate for the fact that they are easy on the eyes of car thieves.
Renewal and Combined Discounts
Insurance companies prefer clients who never file a claim after getting involved in a road mishap. You can take advantage of this matter too by asking for a renewal discount. The company which your car is insured with will be just as happy to oblige. After all, all they do is send you six- or twelve-month premium bill, collect and cash your payments.
You also get auto insurance savings when you combine your house insurance and auto insurance in the same company. It will be helpful to do some research or even ask your insurance agents if they offer such options.