Auto insurance is one part of our family finances that we will always have to deal with and so it behooves us to get better informed. We would all love to buy some form of discount car insurance. The reality of that already exists. There are more discounts in car insurance than ever before. Some of the newer vehicles have so many of them that they are often cheaper to insure than some of the older vehicles. Let’s go through some of the discounts that are available when purchasing car insurance.
Multiple Policy Discount – Though this is a common discount, the number of people who take advantage of this is dismal. This discount can reach a high of 15% with some companies.
Good Driver Discounts – Insurance companies love to reward the driver that has an excellent driving record. These are profitable policyholders and are of help in bringing down the over all rates.
Auto Safety Features Discount – Automobiles with airbags and seatbelts receive lower rates. Anti-lock brakes and anti-theft devices also lower car insurance rates. The vehicle identification number will identify all of these features and so it is important to give that number to whoever is quoting your car insurance.
Young Driver Discounts – Many companies give substantial discounts for high school and college students that have a 3.0 grade point average or better. The drivers training discount has been a standard discount for young drivers. Find a company that has both and you will help lower premium dramatically.
Senior Citizens Discounts – Drivers 55 and older are given retirement discounts if no longer employed. Homemakers, at age 55, can qualify automatically with some companies. Mature driver discounts are also available after completion of a driving course.
Lower Tort Option – There are many states where the tort option is lower or limited in scope. This is your ability to sue for pain and suffering. Though with a lower tort option your ability to sue gets restricted, it can also save you 20% or more in your premium. Get in touch with your agent or insurance company to learn more about the tort laws in your state.
