In a declining economic environment, we are all looking for innovative ways to save money. In recent months, a large number of households not only in the United States, but also throughout the developed world, have had to make changes in the way they spend and live.
A major expense faced by most Americans is expenses related to transportation, that is, your car. If you own a car, you’ll need general auto insurance. Are you paying too much? You probably are. Take the following checklist to your insurance provider to see what kind of savings you could get before your next payment.
Take an online driver education course
In most states, if you enroll in an online defensive driving course, you may be eligible for a discount of 10% or more. Some states don’t recognize these courses, so before taking one, it’s best to check with your insurance provider to see what kind of discounts they offer with a defensive driving course. For a list of driving schools in your city or state, visit Wannadrive.
Get a low-risk job
Insurance companies keep more statistics than you can imagine. One of them is occupational accidents. If your chosen profession has more accidents than average, your premiums will reflect that. Engineers tend to pay lower premiums because they have fewer accidents than other professionals. Just doing a little research and adjusting your job title could be enough to lower your monthly premium.
tell them you’re retired
If you are retired, you may be eligible for an additional discount. We’ve all seen the commercials. This savings especially applies to you if you have a clean driving record. If you’re retired and your insurance provider doesn’t know, then you could be missing out on substantial savings.
Join a Professional Organization or Auto Club
Select organizations and auto clubs receive discounts at all types of retail outlets including hotels and restaurants. Membership in some of these organizations can also help you lower your insurance costs. If you are a member of any organization or club, it never hurts to ask your provider if members of that organization receive a discount.
Combine your insurance
Some insurance companies may lower your premium if you use their company for both home and auto insurance. If you currently have two different providers for auto and home insurance, ask them both what kind of premium reduction you’re eligible for if you combine your auto and home insurance into one.
Car safety features
If you have extra safety features on your car, your insurance rates could also go down. Look for vehicles that have both driver and passenger airbags, traction control, good head restraints, anti-lock brakes, and all-wheel drive are features that enhance your vehicle’s safety performance. Bring a list of the safety features your vehicle has to your insurance provider and ask specifically how additional safety features lower your premiums.
take more risk
By raising your deductible from, say, $400 to $800, you’ll probably have to pay more out of pocket in the event of an accident, but you’ll save significantly on your monthly premium. If you’re a safe driver, the savings you incur by paying a lower premium will pay for itself over the course of the year. The amount of coverage you have will not change as your deductible increases.
be a good citizen
Simply having a good credit score or doing well in school can lower your premiums. Insurance companies have found a correlation between credit score, academic performance and the probability of having an accident. If you have a good credit score and are doing well academically, you may be eligible for a discount.
Pay in fewer facilities
Insurance companies will charge you a fee to make an installment payment. The more installs, the more fees you will pay. If you’re fiscally responsible enough, ask your insurance provider about different payment options, such as paying once a year, every six months, or a quarterly payment. Be careful when using this strategy because it is possible to lose your insurance by missing a single payment.
Demand better service
Believe it or not, there are still some morals in the business world. If you’ve been with the same insurance company for years, ask for a discount as a loyal customer. If they refuse, shop around. Another provider may offer better rates or provide you with better information about your insurance needs.
Hopefully, this article has made you a little wiser when it comes to buying general auto insurance. Use this information and convert it to dollars and cents.
