Discounts To Help Bring Down The Cost Of Your Car Insurance
Due to the substantial cost of car insurance policies and the legal requirement of owning one, spending money on insurance can feel more like a duty instead of a means of protection against financial liability and loss. Although auto insurance is a recurrent expenditure, and an often substantial one at that, it is still crucial that you get one. Thankfully, there are plenty of discounts offered by insurance providers to encourage you to purchase policies from them or ensure that you will stay with them for a long time. Here are examples of these discounts.
Good grades discounts This is a discount provided to students or teen drivers. Insurers offer these discounts because they feel that students with high GPAs are generally more responsible road users and car owners, and thus not as risky to cover. To be qualified, you need to show proof of good grades within a month-long period.
Defensive driving discounts Risky groups such as new or teen drivers as well as senior drivers over the age of 75 can enjoy lower premiums if they finish a safe driving course. These courses are available in many high schools and private driving schools. Before you enroll in these programs, be sure to ask the insurance company if they have preferred driving schools so you can be qualified for their safe driver discounts.
Discounts from setting up anti-theft devices Installing safety or security features to your vehicle can shave off 15% to 20% off your insurance premium. New cars are often sold with these advanced safety technologies, so this option is more suitable for older cars or cheaper but new car models that do not come with these features. The safety device that will provide the largest discount is one that is used or endorsed by your local or state law enforcement agency.
Maintain a good driving record Among strategies to keep your insurance costs low, keeping a good driving record is perhaps the most effective. You can cut insurance costs up to 40% by not being in any accident or any traffic violations. Insurance companies designate points to moving infractions and mishaps to codify the seriousness of these events and figure out how risky you are to cover. These points will fade in three to seven years, which makes it doubly necessary to observe good driving practices.
No or Low down payment insurance plans Down payment for insurance products can be substantial. To entice new car owners, many companies offer car insurance with no down payment. Then again, make sure to read the small print of these offers because more often than not, these still call for some payment, typically a single month's premium. At times, these insurance plans need you to pay a specific amount of money in a pre-determined period before your insurance coverage takes effect.
Good grades discounts This is a discount provided to students or teen drivers. Insurers offer these discounts because they feel that students with high GPAs are generally more responsible road users and car owners, and thus not as risky to cover. To be qualified, you need to show proof of good grades within a month-long period.
Defensive driving discounts Risky groups such as new or teen drivers as well as senior drivers over the age of 75 can enjoy lower premiums if they finish a safe driving course. These courses are available in many high schools and private driving schools. Before you enroll in these programs, be sure to ask the insurance company if they have preferred driving schools so you can be qualified for their safe driver discounts.
Discounts from setting up anti-theft devices Installing safety or security features to your vehicle can shave off 15% to 20% off your insurance premium. New cars are often sold with these advanced safety technologies, so this option is more suitable for older cars or cheaper but new car models that do not come with these features. The safety device that will provide the largest discount is one that is used or endorsed by your local or state law enforcement agency.
Maintain a good driving record Among strategies to keep your insurance costs low, keeping a good driving record is perhaps the most effective. You can cut insurance costs up to 40% by not being in any accident or any traffic violations. Insurance companies designate points to moving infractions and mishaps to codify the seriousness of these events and figure out how risky you are to cover. These points will fade in three to seven years, which makes it doubly necessary to observe good driving practices.
No or Low down payment insurance plans Down payment for insurance products can be substantial. To entice new car owners, many companies offer car insurance with no down payment. Then again, make sure to read the small print of these offers because more often than not, these still call for some payment, typically a single month's premium. At times, these insurance plans need you to pay a specific amount of money in a pre-determined period before your insurance coverage takes effect.
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Car insurance can be expensive, but the various types of discounts available to car owners can bring down your premiums to a manageable level. To know more about car insurance and different discounts offered, visit here.
posted by Vittoria @ November 10, 2012
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