Lower Your Car Insurance Rates- Qualify For Discounts

Are you sick and tired of feeling as though the monthly payments on your auto insurance policy are ridiculously high? If so, then you are certainly not alone. The truth is that car insurance rats these days are higher than ever, and even if you have a relatively clean driving record, you may be finding the cost of your policy increasing each and every time you renew. Luckily, there are some ways that you can go about cutting down on the cost of your auto insurance policy without having to do a whole lot of work on your end. The key to making this happen is to take advantage of all of the auto insurance discounts that are available to you.

Many drivers these days do not even realize that auto insurance companies offer discounts, and this is understandable. After all, it was not until the past couple of decades that auto insurance companies really began to offer discounts in the first place. However, the truth is that almost all insurance companies these days offer a number of money-saving discounts and that you are probably eligible for at least one of them. These discounts can save you anywhere from hundreds to thousands of dollars on your auto insurance over the course of just one year, so what are you waiting for?

The first step that you should take is to give your auto insurance company a call and ask them which discounts they have to offer. From there, your insurance agent should also be able to tell you which ones that you qualify for. A lot companies these days will automatically do this for their policyholders when they apply for a policy over the phone or online, but for those who have been with the same company for many years, this may not be the case. This is why it is important for you to check and ask.

There are many common insurance policy discounts that companies have to offer these days. Perhaps the most common and the biggest money-saver is what is usually referred to as the Safe Driver discount. The qualifications for this discount can vary from company to company, but it usually involves having been accident free and free of any major traffic violation charges over the course of a certain number of years. If a driver meets these qualifications, he or she could shave as much as 20% off of their current auto insurance bill.

Another common discount that should be investigated is the Good Student discount. Often times, these apply to people in both high school and college who are enrolled full or part time and receive a minimum grade point average on a consistent basis. A lot of times, insurance companies will require those who claim this discount to send in proof, such as an official transcript or a report card. Usually, this must be proven after each semester or school year for the driver to keep this discount. The Good Student discount can save a driver 10% or more each year.

Some insurance companies also offer discounts for policyholders who pay for their policies up front, rather than making installment payments. In some cases, this can save the driver as much as 15% on the overall cost of the policy, though it is not always financially feasible for everybody.

Also, many insurance companies offer policies for cars, homes, and other types of property. To get you to buy insurance exclusively through them, many of these companies offer a discount if you decide to purchase more than one insurance policy from them. This is often known as a Bundling discount and can save 5% or more on the overall cost of the policies. Therefore, by simply combining your car and home or car and boat insurance, you could save yourself a pretty penny on the overall costs insuring your investments.

If you see a discount here that you feel as though you qualify for but your auto insurance company does not offer it, you may want to look into other auto insurance companies out there to see if you can get a better deal through one of them. After all, you can change to a new company at any time with no penalty from your current insurance company, so be sure to keep this in mind as you look for lower rates.

Featured images:
  •  License: Royalty Free or iStock source: http://imgur.com/JurOi

Rising car insurance rates are becoming a major financial burden on North American household. Luckily, there are companies such as Kanetix that offer services to find the cheapest car insurance rates.

Leave a Reply