Some people estimate over 50 percent of car insurance customers pay higher premiums than required every month, however, the little industry secret is that many times your present car insurance company can provide lower rates just by you making a phone call. Think about this …
When was the last time you shopped for car insurance?
How long have you been with the same car insurance company?
Were you ever asked anything more than the VIN number of the new car?For many people an insurance agent becomes similar to the third cousins we all have who only show up once a year for dinner and seem friendly enough but at the end of the day we really do not know them.
Car insurance companies are profit machines and you should run you household finances the same way. We are still in a lingering economy so what better time than today to call your car insurance company and ask about the policy discounts you have. Start the conversation inquiring what discounts are presently on the policy and then specifically ask about these. Of course, the availability will depend on your specific provider but if you don’t ask... well, you know how it goes.
Common Car Insurance Discounts:
Vehicle Safety Discounts
Is your car equipped with safety features such as anti-lock (ABS) brakes, a theft deterrent system, traction control ABS brakes, stability control, seatbelt pretension, LOJACK, airbags or similar devices factory installed by the manufacturer? Make a list of all the safety features. Some of these features are optional and may never have shown up in a particular VIN search or were simply just never applied to your current policy. Take your list and go one by one with your agent.
Good Driver Discounts
Many car insurance companies reward people with a good driving record however never expect a car insurance company to automatically review your driving record for discounts. Most providers will probably do an annual review to look for ways of charging you higher premiums but the responsibility is on your shoulders to ensure any discounts for a good driving history are awarded. The rule of thumb for most providers is any driver with a clean driving record for 3 years or more earns some loyalty so ask!
Auto insurance is the leading insurance policy consumers can benefit from when combining policies under one company. Double check your car, home and life insurance policies are “tied together” in the system – some companies report a savings of over 20 percent simply for customers who simply have home and auto policies with the same provider.
Driver Education Course
Completing a certified driving course is very beneficial for young drivers and seniors however how would the car insurance company know you passed a driving school exam? Always report the completion of any program to your provider.
Senior Citizen Discount
Once you reach 55 or 65 (depending on the provider) you could be eligible for discounts based on your driving habits and age.
Low Mileage Discounts
How much do you really drive? We live in a generation where the number of people working from home is growing at a rapid pace so do you really need car insurance rates based on average commute distances. Mention low mileage discounts and you just may be surprised how much of a discount you can get. Some companies offer up to a 50 percent discount.
Prepay Your Policy
Times are tough but many consumers can still afford to prepay six months of car insurance premiums. Most auto insurance companies provide an incentive to pay all of the premiums up front.