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Don't Overlook These Car Insurance Discounts

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On: Tue, Jul 9, 2013 at 1:34PM | By: Elizabeth Puckett

Don't Overlook These Car Insurance Discounts

With auto insurance rates on the rise in states like Michigan, many people are stressed out about being able to afford coverage. Even if you live in an ‘average’ rate state, you are likely spending no less than $900 a year on car insurance. It’s probable that you’re spending more on coverage than vehicle maintenance—many people are actually having to skip routine maintenance so they can afford to keep their policy up-to-date. A few commonly overlooked discounts could make your policy affordable again.

July is a huge month for policy renewals, according to experts, and there may be some additional discounts to look out for this month. Most expect to get lower rates because they haven’t had any recent accidents or drive a vehicle with lots of safety features, but available money-saving discounts go beyond that. You may be surprised by the discounts you actually qualify for, discounts that have nothing to do with your driving habits! Before you renew your policy, look into the following discounts to make sure you are getting the best deal on auto insurance possible. Please note that these discounts are not available through all providers.

Leisure Vehicle Discounts
If you aren’t driving your vehicle to work everyday or taking long family road trips, you should inform your insurer to receive a lower rate. Most insurance companies have a yearly or monthly mileage limit for vehicles you’ve deemed as ‘leisurely’. Don’t try to fool the insurance company by lying about your milage, it’s not difficult to find out your mileage, after all, they do keep track of it when you have your oil changed or any other maintenance done. Additionally, you could get busted if you are involved in an accident during your lunch break at work.

Hybrid & Electric Vehicle Discounts
Since hybrids and EVs are considered to be low risk vehicles, most insurance companies offer lower rates to those who drive them.

Multi-Car Discounts
If you have multiple policies in the household, consolidate them into one for discounts. Obviously this would apply to married couples and people in civil unions, but could include parent/adult child or roommates.

Exclude Drivers in the Household
Say you have a long-term houseguest, a spouse who doesn’t drive, or a teen/young driver on their own policy—if you specifically exclude these drivers from your policy, your rates will drop.

Good Student Discount
Here’s another reason to make sure your teen (who's the reason your rates are so high to begin with!) is getting good grades in school—most insurers offer discounts to high schoolers and college students with good grades and perfect attendance.

Here's some additional tips on insurance savings:
Pay in one lump sum—those who pay in monthly payments spend much more on their policy.
Combine auto policies with homeowner's insurance, if possible.
Drop coverages you don't need, like rental or roadside assistance.
Set the highest deductible you can afford.
Compare rates through your own research.


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