The reality of car insurance premiums as a recurring monthly or annual expense can weigh heavily on your pocketbook. Any advantage or means of lessening that load is a welcome one — and discounts are just one of those advantages.
Getting discounts on your insurance policy can make maintaining coverage on your vehicle much easier to manage. Plus, it’s just good business sense in general. Indeed, you should take advantage of any discounts whenever possible.
Here are five ways to land discounts on your car insurance policy:
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1. Automate Your Payment
Forget mailing a check and buying stamps to pay your monthly or annual car insurance dues. These days, a majority of Americans pay their bills through automated payments. Typically, this is done via electronic funds transfer (ETF) from your checking account — and many car insurance companies also reward customers who choose automatic payments. Indeed, you no longer need to worry about paying any monthly dues or setting up payment reminders on your smartphone.
2. Take a Defensive Driving Course
A well-trained and considerate driver is a safe driver. And if you complete a defensive driving course, you may be eligible for a discount on your car insurance premium. You can typically qualify for this discount if you’ve successfully passed an approved course through your local Department of Motor Vehicles or Department of Public Safety. Plus, in the eyes of an insurance company, you are less likely to be involved in an accident and will keep yourself and other motorists safe on roads and highways.
3. Make Upfront Payments
Tired of receiving monthly statements for your car insurance? Most auto insurance carriers offer a discount if you pay your auto insurance premium in full for the entire six-month or annual term instead of in monthly installments. Of course, whether it makes sense to pay in full depends on your budget, as you don’t want to put too much of a dent in your paycheck. Progressive, Farmers, and Allstate are just a few examples of companies that offer this discount. Last year, drivers who paid premiums in full saved about 4.7% on average.
4. Consider Going Paperless
Insurance companies also offer discounts to drivers who do their part to be eco-friendly. To qualify for this type of discount, you’ll need to either set up an online account on your insurance company’s website or make automated payments through your financial institution. By going paperless, you’ll no longer need to endlessly search for your bill in the heaps of other physical mail strewn across your desk or kitchen table. Not to mention, you’ll get your bill faster and more conveniently, simplifying your record-keeping.
5. Sign Up for Special Packages
Looking for other ways to purchase cheap auto insurance? Say you’re a college-age student, retiree, or senior who has a car but hardly ever drives. Well, you’re in luck. You can often find discounts for college students or based on your car use. Pay-per-mile insurance lets you pay for coverage based on how many miles you drive. It might very well save you money — up to 40% or more — but only if you truly don’t often get behind the wheel. Customers pay a monthly base rate in addition to a mileage rate that can change based on how much you drive.
Getting More Affordable Car Insurance with Discounts is Attainable
It’s no secret that it costs more to insure some cars than others. But with the rate of car accidents occurring every day, auto insurance is an obvious necessity no matter how often you drive. Getting discounts on your insurance payments makes it easier to bear the financial burden. Plus, the feeling of being rewarded for investing in your safety is well worth the efforts of finding companies that offer discounts.
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