Auto Insurance – Money-Saving Auto Insurance Discounts, Reductions And Special Rates

Auto insurance companies offer premium reductions, special insurance rates or discounts. These you should take advantage of to save even more on your auto insurance. Here are some of the premium reductions, special insurance rates or discounts that you can avail of.

a. Low mileage discounts

Your daily exposure to risk is determined by the distance from your house to work or school. It also determines vehicle use whether it be business or personal use. The average distance you drive annually or how far you commute from or to school or work is the calculation base of your premium. Therefore, you will have a lower premium if you drive in a shorter distance.

b. Good student discounts

Many insurance companies offer discounts for currently enrolled students with good grades and to those family members studying away from home. It’s called “Good Student” discounts for your drivers who maintain a “B” (or 3.0) or above “B” average.

c. Multi-car discounts

You can reduce your premium by insuring two or more vehicles in one policy.

d. Other policies

You can also reduce your premium by availing of other policies with the same company. Other policies may include homeowners insurance policy or life insurance policy. Various insurance companies offer discounts if you have your home insured with the same company that insures your vehicle.

e. The safe vehicle discount

Installing safety devices and anti-theft devices can earn you discounts. Many companies offer discounts for various safety devices, such as air bags and factory-installed mechanical seatbelts, as well as anti-theft devices installed on your vehicle, such as alarms and antilock brakes.

f. Age – Being at least 25 years old

Auto insurance premiums tend to be lower once a driver turns 25 years old. This may be because the driver’s rates are calculated in a different driver class. Risk assessors have determined that drivers below 25 years old are inexperience driver and immature so is more accident prone. So as the person becomes more responsible the risk of at-fault accident decreases.

g. The good driver discount

Your insurance policy can be cancelled by your insurance company on your renewal if you got involved in an accident and/or you’re given traffic tickets. Discounts are given to drivers who have not had accidents and received tickets for 3-5 years. Discounts are also given to those who have completed a driver’s training course.

h. Avoiding installment fees

You can save on your auto insurance premium by paying 6 months in advance instead of monthly. As most insurance companies charge service fees for installment payments. You can save even more if you buy a 12-month policy.

i. Prior insurance

Some insurance companies give discounts to those insured for the last 6 months or more continuously.

j. Good credit score

Insurance companies generally adjust rates by judging your risk, so a good credit standing can lower your rate.

k. Car pooling and use of public transportation

Some insurance companies offer public transportation, as well as carpooling discounts. Because the more you use public transportation and carpooling, the less you use your car. And it’s unlikely for you to have car accident, because you drive less.

Author Fred Gagnon is an expert on providing tips and information on jewelries. He owns a wide collection of stunning, glamorous and chic jewelries. To learn more about jewelries, accessories, precious metals and gemstones, visit Peridot Rings and Princess Cut Engagement Rings.