Young And Single? You may pay more for car insurance than your young, married friends (as this Forbes article shows). As you get older, your rates go down naturally because insurance carriers view you as less of a risk. But you don't have to sit around waiting for your next birthday to reduce your premiums. Whether you are married or single, 20 years old or 60 years young, there are plenty of other discounts you may be eligible for. But (and here's the point) you have to ASK.
ASK YOUR AUTO INSURER ABOUT DISCOUNTS. If you don’t ask them about discounts, THEY MAY NOT TELL YOU THEY ARE THERE FOR YOU. Many of you have probably never asked, and assumed you automatically received any discounts you were eligible for. The answer to that is NO.
Common Discounts
If you have been with an auto insurance company for five years accident and ticket free, you are likely eligible for a good driver discount (but again, if you don’t ask, you may not get it). If your carrier won’t offer the discount to you, it may be time to shop around.
If you are not working, or work from home, and don’t drive your vehicle the average amount (typically 10,000 miles a year or more), make sure your insurer knows this and you may get a discount for low annual mileage. Same goes for keeping your vehicle in a garage, versus parked on the street.
These days, every dollar counts—so check ask about discounts, and see how much you could save, based on things like:
> Vehicle Equipment (airbags, anti-theft system, daytime running lights, etc.)
> Driving History & Habits
> Driver's Education
> Driver Affiliations (military, federal employee, memberships)
> Customer Loyalty (multi-car, multi-policy)
Bundling your auto and home insurance policies can help, but sometimes not as much as you think, so the best answer to a better policy rate is this: SHOP AROUND, and when you find a policy that aligns with your coverage needs and your budget, get a letter from your carrier for your homeowners policy, auto policy, etc. that LOCKS IN that deductible for a set period. This is smart because often if an area, for example, has several storms causing extreme damage, their deductible or premium (or both) may automatically be increased to account for the increased risk to the insurer, without a big fancy invitation alerting you to these changes. Many of us are guilty of not reading the fine print. So, CHECK ON YOUR POLICY YEARLY. Do an annual review. Ask questions. Ask for discounts. And if you need help, give us a call.
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