Bank rate claims that the top 5 car insurance discounts are multi-vehicle, good-student, multiple policies (bundling home and auto), safe driver/accident-free record and lastly defensive driver.
For decades now nearly every state in the US has required all drivers to purchase car insurance, at least the liability that covers others that you hit, the medical bills of those in your car, and your own medical bills as well. Then, there are coverages such as comprehensive that covers the car for nearly any loss, theft, vandalism, fire, hailstones, storms and floods, but excludes accidents while driving. Finally, there is collision coverage, which covers the repairs of your own car in the event of an accident that’s your fault. Keep in mind that if the other driver is at fault, his liability should cover your car’s repairs. If the other driver is uninsured or underinsured then your own collision would kick in and cover you instead.
There Are Quite A Few Car Insurance Discounts That Can Be Had To Save Money
Many customers ask why insurers don’t offer more and better discounts, one of the reasons is that when they offer a discount in a particular state, they get reviewed by the insurance commissioner and have to prove that those getting the discount are actually lower risk, and that the company saves that 10% that they claim.
One of the most popular discounts is the non-smokers discount. That is usually only offered on a company’s premiums policies, not the higher risk ones, and can be up to 10% or so. It is also mostly only available in full coverage, so a person only wanting to cover their car for liability, won’t be able to get it. However, if you get that discount and maybe one other, it may be possible to cover your car fully, for just a slight bit more than just liability.
Another Of The Most Common Car Insurance Discounts Is The Multiple Car
Families that have several cars tend to spread the risk around and have fewer claims than the one car house. In addition, many companies will also give a multiple policy discount if you have renters or homeowners insurance with them as well. By covering all of your insurance needs they save on billing expenses, as well as have a foot in the door with life insurance, which is the big money maker in the business.
If you haven’t checked around for a few years it’s good idea to do so when your next renewal comes up. You should also call your agent several times per year and make sure you’re getting all of the discounts available to you, as things change in your driving habits, smoking habits, or any other changes that could affect your rates.
