Guide to auto insurance discount: Everything you need to know, Cover advice, Vehicle warranty guide
Guide to Auto Insurance Discount Costs
31 March 2022
Car insurance is an expensive necessity. According to an estimate, insurance that covers liability, collision, and motorist coverage cost an average of $1,998 a year. However, unlike car fuel and maintenance, you can cut back on car insurance by getting a discount.
Auto Insurance Discount: Everything You Need To Know
There are several different types of automobile insurance that might assist you in relieving financial stress. Car insurance companies such as Infinity Insurance provide their customers with many types of car insurance discounts. If you want to save money on your auto insurance, these discounts can help.
Auto insurance is a necessity, but it can be very expensive. Fortunately, there are ways to save money on insurance. We interviewed Laura Adams, Insurance & Finance Analyst at Clearsurance, to discover the insider secrets of auto insurance discount.
Laura Adams is one of the nation’s leading finance, insurance, and small business authorities and she shared with us how to reduce your next auto insurance bill by taking advantage of discounts.
Types of Car Insurance Discounts
The following are some of the auto insurance discounts that you may be eligible for. Bear in mind, however, that not all insurance reductions are accessible in all states.
#1: Multi-Car Discount
Several automobiles are covered under one program with multi-car insurance. In this way, you do not have to buy separate auto insurance for all of your cars. This policy also enables you to get different coverage for each car. Many car insurance businesses offer discounts when you insure more than one vehicle.
#2: Mature Driver Improvement Course Discount
If you are age 55 and above, then you should take mature driver development classes. This course cover topics such as:
- defensive driving
- Vehicles Law
- Road Rules
- Effects of drug, weariness, drunkenness, vision, or auditory impairments on an individual’s driving skills
Many insurance companies provide discounts to clients who have taken the Mature Driver Improvement Course.
#3: Lump-Sum Payment Discount
Many insurance companies provide their clients a chance to save money by offering discounts when they pay a lump sum of premium instead of paying monthly. By paying in full, you can avail of a discount of up to a range of 6% to 14%. If you pay the full premium, you also get a chance to save the amount that you would have to pay as a monthly service fee.
#4: Safety Features Discount
You can also get discounts from insurance companies if your car has safety features, such as airbags, anti-lock brakes, anti-theft devices, and daytime running lights. If your car has airbags, you are eligible for as much as a 40% discount. This discount is conditioned on you also having medical personal and injury protection coverage.
#5: Multi-Policy Discount
This discount is applicable if you buy your car insurance and other insurance policy, such as medical and home insurance, from the same company. Bundling car insurance with other insurance policies can help you in saving up to 5% to 25% on your insurance premium.
#6: New Car Discount
If your car is new or only three years old, then you are entitled to get a new car discount. However, to avail of this discount on your insurance premium, you will have to meet certain conditions set by your insurance provider.
What Insurance Companies Offer Car Insurance Discount?
If you have concluded that you are eligible for a car insurance discount after reading our guide, then you need to find the best insurance companies that work for you. Clearsurance provides you with a platform where you can check the reviews of car insurance companies. Some of the best car insurance companies are:
- Infinity Insurance
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