In a sagging economy, we are all looking for innovative ways to save money. In recent months, households across the developed world, not just American households, have had to make changes in the way they spend and live.
A big expense faced by most Americans is transportation related expenses, namely your car. If you own a car, you will need general auto insurance. Are you paying too much? You probably are. Take the checklist below to your insurance provider to see what savings will come your way before your next payment.
Take an online driver training course
In most states, you may be eligible for a 10% or more discount if you enroll in an online defensive driving course. Some states don’t recognize these courses, so before taking one, it’s best to check with your insurance provider to see what discounts they offer with a defensive driving course. Visit Wannadrive for a list of driving schools in your city or state.
Find a low risk job
Insurance companies keep more statistics than anticipated. One of them is occupational accidents. If your chosen profession has more accidents than average, your bonuses will reflect that. Engineers tend to pay lower premiums because engineers have fewer accidents than other professionals. Just doing some research and adjusting your job title may 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 ads. This savings is especially true for you if you have a clean driving record. If you’re retired and your insurance provider doesn’t know about it, you may be missing out on significant savings.
Join a Professional Organization or Auto Club
Receives discounts at all types of retail outlets, including certain establishments and auto clubs, hotels and restaurants. Membership in some of these organizations can also help you reduce your insurance costs. If you’re a member of an organization or club, it never hurts to ask your provider if members of that organization get discounts.
Combine Your Insurance
Some insurance companies may reduce your premium if you use their company for both home and auto insurance. If you already have two different providers for home and car insurance, ask both of them what kind of premium discount you are eligible for if you combine your home and car insurance.
Auto Safety Features
Your insurance rates may also decrease if your vehicle has any additional safety features. Look at cars with airbags for both driver and passenger, traction control, good head restraints, anti-lock braking and all-wheel drive are features that enhance your car’s safety performance. Bring a list of the safety features your vehicle has to your insurance provider and specifically ask how the additional safety features are reducing your premiums.
Take More Risks
By increasing your exemption from $400 to $800, you will probably have to pay more out of pocket in the event of an accident, but you will save significantly on your monthly premium. If you’re a prudent driver, the savings you make by paying a lower premium will pay for itself over the course of the year. By increasing your exemption, the amount of coverage you have will not change.
be a good citizen
Just having a good credit score or performing well in school can lower your premiums. Insurance companies have found a correlation between your credit score, academic performance, and your likelihood of having an accident. If you have a good credit score and are performing well academically, you may be eligible for a discount.
Pay in fewer installments
Insurance companies will charge you a fee for paying in installments. The more installments, the more fees you pay. If you are financially responsible enough, ask your insurance provider about different payment options, such as annual, semi-annual or quarterly payments. Be careful when using this strategy because it is possible to lose your insurance by simply missing a payment.
Request better service
Believe it or not, there is still some moral fabric in business. If you’ve worked for the same insurance company for years, ask them for a discount as a loyal customer. If they refuse, shop around. Another provider may offer better rates or give you better information about your insurance needs.
We hope this article has made you a little smarter when it comes to buying general auto insurance. Use this information and convert it to dollars and cents.