Although insurance premiums increase all the time, insurance companies do give many discounts that allow your premium to be reduce.
You are probably familiar with credits for multicar cars on one policy, good student discounts, and claim free discounts but there are many other discounts as well. Here are some credits that apply to auto policies but please keep in mind that not all companies offer every one of these discounts.
- Have your auto and home insurance with the same agent, not necessarily with the same company.
- Child away at school with no car discount.
- Being a home owner or mobile homeowner.
- Level of education, from high school graduate, to military training, to PHD.
- Low mileage vehicle. Such as the Progressive Insurance Snapshot program.
- Higher deductibles for comprehensive and collision coverage. Remember, no deductible applies to broken auto glass claims.
- Advanced purchase discount (paying for a new policy at least 10 days prior to the effective date)
- Paid if Full discount. Pay the annual premium in full at time the policy is issued.
- Paperless discount – allowing the carrier to e mail documents as opposed to mailing.
- EFT discount – discount for allowing the company to automatically draw premiums from the bank of the same day of each month.
The better rating programs automatically give anti-lock brake, alarm, and anti-theft discounts when the VIN is entered into the system.
An independent agent can select the insurance company that is best for you. C. T. Lowndes & Company, for example, quotes with eight different auto carriers.
Above all, however, do not simply focus on price. Be sure you have the proper coverage and adequate limits. And, in this day and age, no one should have the state minimum limits of liability ($25/50/25)! Everyone needs higher limits, and the extra cost is usually very affordable.