Auto Insurance - Money-Saving Auto Insurance Discounts, Reductions And Special Rates

By Fred Gagnon

Auto insurance companies offer premium reductions, special insurance rates or discounts. These you should take advantage of to save even more on your auto insurance. Here are some of the premium reductions, special insurance rates or discounts that you can avail of.

a. Low mileage discounts

The distance from your house to your work or school determines your daily exposure to risk. It also determines vehicle use, whether you use it for personal or business use. Your premium is calculated based on the average distance you drive annually or how far you commute from to work or school. Therefore, the shorter the distance you drive, the lesser your premiums will be.

b. Good student discounts

Many insurance companies offer discounts for currently enrolled students with good grades and to those family members studying away from home. It's called "Good Student" discounts for your drivers who maintain a "B" (or 3.0) or above "B" average.

c. Multi-car discounts

Insure two or more vehicles in one policy to reduce on premiums.

d. Other policies

Other policies include life insurance policy or homeowner's insurance policy. You can avail of discounts or reduce your premium by insuring both your home and vehicle in one company. As many insurance companies offer discounts for clients with more than one policy.

e. The safe vehicle discount

Many insurance companies offer discounts for anti-theft devices installed on your vehicle, like alarms and anti-lock brakes, as well as various safety devices, such as airbags and factory-installed mechanical seatbelts. Installing these devices can earn you discounts.

f. Age - Being at least 25 years old

25 years old and above are believed to be more responsible, so the risk of at-fault accident decreases, and auto insurance premiums tend to be lower. Risk assessors have determined that those under 25, due to their immaturity and inexperience in driving, are more prone to accidents. Driver's rate is calculated in a different driver class.

g. The good driver discount

Your insurance policy can be cancelled by your insurance company on your renewal if you got involved in an accident and/or you're given traffic tickets. Discounts are given to drivers who have not had accidents and received tickets for 3-5 years. Discounts are also given to those who have completed a driver's training course.

h. Avoiding installment fees

Sometimes, you can save on the premium by paying 6 months of an auto insurance premium in advance instead of monthly. Buying a 12-month policy can save you even more. This is because most insurance companies charge service fees for installment payments.

i. Prior insurance

If you have been continuously insured for the last 6 months or more you can also avail of discounts.

j. Good credit score

A good credit score can lower your rate as insurance companies usually adjust rates by judging your risk.

k. Car pooling and use of public transportation

Some insurance companies offer carpooling, as well as public transportation discounts. Logic says that the more you use car pooling and public transportation, the less you drive your vehicle. And the less you drive, the less likely you are to have an accident. - 21393

About the Author:

About the Author: Fred Gagnon is an expert on providing tips and information on jewelries. He owns a wide collection of stunning, glamorous and chic jewelries. To learn more about jewelries, accessories, precious metals and gemstones, visit Vintage Engagement Rings and Pink Sapphire Rings.