There is a good chance that you may be paying too much for your personal automobile insurance. This is particularly true if you are unaware of the numerous auto insurance discounts out there in the marketplace. The following are discounts to ask about that may significantly affect your insurance premium.
- "Defensive Driving Discount" This discount can save you 10% on most of your auto policy's major coverage options, such as liability, medical payments and collision. Defensive driving courses can cost as little as $20 and they may only take a few hours of your time – and the discount normally applies for three years.
- "Good Student Discount" Statistics show that good students tend to be more reliable and mature than students with marginal grades, leading to better driving decisions. Therefore, many states allow a 5% to 10% discount if your student driver makes good grades, usually an overall "A" or "B" average in high school or college. If your child has to pay his/her own automobile insurance, this can be another motivator for him/her to make good grades.
- "Home/Car Discount" Many insurers offer discounts of 10% or more if they provide both your homeowners and personal automobile insurance. This can lower your costs on both policies.
- "Auto Safety Features" Most insurers recognize that owners with cars containing safety features may have fewer accidents and reduced injuries. Many insurers encourage drivers to purchase cars with anti-lock brakes by giving small discounts for these safety features. Other insurers give discounts for vehicles with daytime running lights.
- "Accident-Free Discount" Many insurers offer discounts of up to 10% for remaining accident free for a period of three to five years. These are sometimes called "good driver" discounts.
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