In a declining economic environment, we are all looking for innovative ways to save money. In recent months, large numbers of households not only in the United States, but also across the developed world, have had to make changes to the way they spend and live.
A major expense faced by most Americans is transportation-related expenses, namely your car. If you own a car, you’ll need general auto insurance. Are you paying a lot? 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’s 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 do not recognize these courses, so before taking one, it is 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 this. 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 about it, 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 an 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 insurance and auto insurance. If you currently have two different providers for home and auto insurance, ask both of them what type of premium reduction you are eligible for if you combine your home and auto insurance into one.
car safety features
If you have additional safety features in 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 the safety performance of your vehicle. Take a list of the safety features your vehicle has to your insurance provider and ask specifically how the additional safety features lower your premiums.
take more risk
By increasing 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 from 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 likelihood of having an accident. If you have a good credit score and are doing well academically, you might be eligible for a discount.
Pay in fewer installations
Insurance companies will charge you a fee to make an installment payment. The more installations, the more fees you will pay. If you are 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 even one payment.
Demand better service
Believe it or not, there is still some morality in the business world. If you’ve been with 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.
Hopefully, this article has made you a bit wiser when it comes to shopping for general auto insurance. Use this information and convert it to dollars and cents.