You probably hear a lot about auto insurance discounts; television commercials for various companies firmly advertise their available discounts. Most insurance companies do have many ways to qualify for better rates, some of which are better known than others. Although you won’t qualify for all of the discounts, you can ensure you get all the appropriate discounts on your premium.
Insurance companies want to get as much of your business as possible, so they offer discounts when you add more policies to your account. Multi-policy deals can include options such as multi-car, auto/home, auto/life, and many other combinations of policies. Some companies even offer a discount if they insure your boat or RV. Qualifying for these discounts is straightforward; start a second policy with your insurance company, and the discount should apply.
Good Driver And Longevity Discounts
These discounts are easy to qualify for as well. You should get the discount automatically if you have a good driving record. The same usually goes for a longevity discount. This discount applies to your policies after being with a company for a certain period. The longer you renew the policy, the larger the discount will become. The key to longevity discounts is to stay with one company long enough. Skipping from company to company for lower rates may not save you as much as staying in one place.
Discounts For Younger Drivers
No question that adding a young driver to your policy can be an expensive proposition. If you have a teenager new to driving, inquire about a good student discount to alleviate some of the cost. You will likely be required to provide a transcript proving your child’s required grade point average to qualify. Some companies also offer a new driver training course, and your young driver can qualify for a discount just by taking the course. It can usually be done right in your agent’s office. Not only will you save money, but you will help put safer young drivers on the road.
These are just a few discounts you may qualify for with your insurance company. Each company is different, so be sure to ask your agent so you don’t miss out on potentially big savings on your premiums.
Don Westerfeld has been active in the field of Insurance and Financial Planning since 1997. Don grew up in Indiana later moving to Lakeland Florida where he continues to reside with his wife and children. When he’s not in the office you can find him enjoying the great outdoors. He has served on several charitable business and non-profit organizations and continues to provide guidance, advice and support to local charities.
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