10 Ways to Get Discounts on Your Insurance
Insurance can get expensive, but fortunately, many insurance companies offer discounts that can lower the cost of your insurance premiums. If you want discounts on your current insurance coverage, ask your insurance provider for a free insurance quote to learn whether you can lower your rate.
Have a good credit score. Many insurance companies now check your credit score when they provide you with a free insurance quote. They believe that your credit score can be used to predict your likelihood of filing a claim. So, a low credit score can mean you pay a higher insurance premium. On the other hand, increasing your score can lower your rate.
Be married. Marriage discounts are another way to lower your insurance rate. Combining your policy with your spouse can lower your overall cost of insurance.
Have good health. When it comes to health insurance, those who have good health and no serious medical conditions may receive a discount on their health insurance. Your insurance may require you to receive a physical before giving you the discount.
Be a good driver. The longer you go without having an accident or receiving a driving infraction, the lower your insurance will be. When you receive your free auto insurance quote, find out whether the company offers accident forgiveness for isolated accidents on your driving record.
Have a college degree. Those with higher education often receive lower rates on insurance than those without it. If your application doesn’t ask about your education level, ask your insurance provider whether you can receive a discount for having a college degree.
Be a loyal customer. Insurance companies like it when you stay with them for an extended period of time. If you’ve been with your current insurance company for a few years, ask for a free insurance quote including a customer loyalty discount.
Add multiple drivers to car insurance. Combining several cars and drivers on a single insurance policy can give you a discount. You’ll pay a lower cost than if you had several different insurance policies for each driver and car.
Combine your policies. You can often combine a homeowner’s and auto insurance policy to receive a 5-10% discount on your monthly premium. That’s if your company offers both types of insurance.
Increase your deductible. The higher your deductible, the lower your insurance premium will be. Raise your deductible to the maximum amount you can afford and receive a discount on your insurance.
Don’t smoke. Most insurance companies charge an extra premium for those who smoke. This is especially true for health insurance and home insurance. Kick the habit and you may be able to lower your insurance cost.
If you can’t get your current insurance provider to lower your insurance rate, get a few free insurance quotes from other insurance companies to learn whether changing companies can get you a lower rate.
March 13, 2009, Posted by Rainy Day Mitch