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Auto Insurance Discounts

Auto Insurance discountsOne of the best ways to get the lowest auto insurance rates is to take advantage of the auto insurance discounts companies offer. There really are quite a few of these, some of which you may not even be aware of. As you look for the lowest auto insurance rates, you can compare companies not only their basic rates and policies but also on the discounts they offer regarding your specific situation as a driver.

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It is important to ask representatives about their discounts and bring various items to their attention if you think they may make you eligible for a lower rate. A company will not always ask about every item that might be discount worthy, so get a good assessment of this yourself and then discuss it with the insurance provider. Here is the list:

1. Anti Lock Brakes

Anti lock brakes help to prevent accidents. They thus reduce your risk and make insurance companies more eager to insure you. If your car has anti-lock brakes already, of if you are upgrading from an older car without this feature to a newer one with it, make sure to make your insurance company aware of this situation and get the corresponding discount. You can also have your car outfitted with anti lock brakes if they do not already have them.

2. Automatic Seat Belts and Air Bags

Automatic seat belts and air bags are another safety feature that can result in your insurance being discounted. These devices make it less likely that you will sustain injury during an accident and thus that an insurance company will have substantial medical damages to pay. So again, bring this to the attention of the company if they don’t ask themselves. And again, retrofit is a possibility, so investing in having air bags or more effective seat belts put in is in your budget it may prove worth it over the longer term.

3. Anti Theft Devices

Anti theft devices are things like steering wheel locks, wheel locks, and car alarms. These are deterrents to theft. They can result in discounts because theft of vehicles is often a large financial loss and replacement may be necessary. Thus anything that helps deter this is an important means of lowering your insurance rate. You can even see what an insurance company says about several of these devices being installed or ready for use in your car’s trunk.

4. Location

The accident rate in particular areas varies. Thus people who live in these areas are statistically more or less likely to have accidents and this directly affects how great a risk they are for an auto insurance company to insure. A busy city with a lot of hustle and bustle is a very different driving environment that a quiet country or suburban town with rambling and quiet roads from an accident standpoint. This only stands to reason. But how often do people ask their insurance providers about this? Be one of the people that does.

5. Defensive Driving Class

Taking a defensive driving class may be mandatory due to a ticket you have received or you may do it voluntarily. But either way it is grounds for an insurance discount. In fact these courses are specifically designed with this in mind. There are many companies that offer these courses, they do not cost much or take much time, they can take points off your license, and they can result in cheaper auto insurance. For all these reasons courses like this are highly recommended.

6. Good CreditAuto insurance discounts - Good credit

A good credit record shows an insurance provider that you are more likely to pay your premiums on time than someone with bad credit. Since this is the kind of customer they want they may offer you a discount for having a good credit score. You can even look into doing some credit repair before getting an insurance quote with this in mind.

7. Multiple Insurances

If you get multiple types of insurance – automobile, homeowner’s, and life insurance, for instance – the company will often discount the rates on these policies. Think of this as their way of thanking you for doing business with them. Since you most likely have more than one type of insurance policy anyway, why not bundle them all together and take advantages of the discounts that accrue?

8. Organizational Affiliation

If you are affiliated with certain organizations, insurance companies may see you as being a reduced risk. Companies may have arrangements worked out with some of these organizations to offer their members lower rates. Some examples of organizations are college fraternities or sororities, credit unions, professional organizations, and even credit cards.

9. Multi-Car Discount

In terms of your per-vehicle insurance rate, having several cars on one policy can result in discounted rates. If you have several vehicles and drivers to insure, whether or not these are family members, consider putting them on one policy.

10. Electronic Payments

Electronic Funds Transfer (EFT) is a process whereby automatic payments are made each month from your bank account to the insurance company. Since this makes it more likely that the will receive payment and also cuts down on costs associated with paperwork, insurance companies encourage this payment method. Lower premiums are used as an incentive.

11. Higher Deductible

By simply raising your deductible you can often get better insurance rates. Since you will be responsible for more of the cost of damages should they occur, the insurance company is risking less and thus will not charge you as much for coverage.

12. Distance to Work

The distance you drive to work can have a fairly direct correlation with your accident risk. If you live close to work you will spend less time on the road and be late less often. Thus the insurance provider should, and usually does, consider you a lower risk. This entitles you to a better premium.

13. Profession

Being a teacher, being in the military, and being an engineer are professional occupations that make you statistically less likely to be involved in an auto accident. Thus if you work in one or several of these fields you are in luck as far as your auto insurance premiums go.

Auto insurance discounts - Profession

14. Good Academic Record

Good students are also often more conscientious and less likely to be involved in accidents. They can thus be considered lower risk and may be eligible for discounts. This is especially helpful for high school and college aged drivers. Just make sure you don’t hit too many college parties and get yourself a drunk driving offense as your drive home to sleep for exams the next day!

15. Longer Policy Period

One year policies may be cheaper than shorter term ones such as 6 month policies. The insurance company is sure they will be getting payments from you for longer and thus may offer discounts as a result. Since you will most likely need auto insurance a year or longer from now anyway, it makes sense to get longer policies at the outset and get a slightly lower premium.

Put Your Auto Insurance Discounts to Work

Insurance companies discount rates for many different reasons. Essentially anything thing that lowers the risk of insuring somebody could be considered grounds for some kind of discount. Bring anything of this nature to the attention of representatives since they may not voluntarily offer you every discount for which you may be eligible on their own. Make sure to get the rates you deserve by being aware of everything that might qualify you for a discount discussing it with the insurer. Start saving money today with these auto insurance discounts. Enter your zip code below to compare auto insurance rates!

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