There are many chances to save on premiums, but many are often overlooked.
As the price of gas skyrockets, many people are looking for chances to save on car insurance and other elements of vehicle ownership, in order to lower the cost of driving.
However, there are many discounts that could be received, but are frequently missed.
Most agents recommend that you go over your policy at least once per year in order to make sure that you aren’t missing out on a number of discounts that could bring you significant savings, especially over time.
The car insurance marketplace is highly competitive, meaning that discounts are abundant.
Some of the most commonly overlooked opportunities to save may include the following:
• Occupation – in some states, certain car insurance companies track the risk associated with various types of occupation and will assign discounts to people working within them. This can include doctors, nurses, firefighters, police officers, dentists, and teachers, as well as engineers and scientists among others.
• Work from home – when there is no commute because you work from home, there may be an additional discount available, especially if the vehicle is rarely used.
• Low mileage – many insurers will reduce the rates for individuals who put very few miles on their car every year.
• Good credit record – though not in every state, some will allow insurers to consider a person’s credit history in order to help calculate their premiums. If you have a very good credit score, you could be entitled to some discounts.
• Armed forces – individuals in the armed forces, people in the National Guard, or college students in commissioning programs (for example, ROTC) may be offered savings from some car insurance companies.
• Memberships – there are some insurers that have partnered with some universities and colleges, as well as sororities, fraternities, professional associations, and other places with large memberships. Discounts can sometimes be as high as 10 percent for members.
Keep in mind that the discounts available to you vary from one car insurance company to the next, so make sure to comparison shop and look into the deals that are offered from each individual provider.