Because of the substantial cost of auto insurance policies and the legal requirement of owning one, spending money on insurance can seem more like an obligation instead of a way of protecting against financial liability and loss. Even though auto insurance is a recurrent cost, and an often substantial one at that, it is still important to have one. Fortunately, there are plenty of discounts provided by insurance providers to encourage you to purchase policies from them or ensure your loyalty. Below are examples of these discounts.
Good grades discounts
This is a discount offered to students or young drivers. Insurers provide these discounts because they believe that students with good grades are generally more responsible road users and car owners, and thus less risky to insure. To be eligible, you have to show proof of good grades within a 30-day period.
Defensive driving discounts
High risk groups such as new or teen drivers as well as senior drivers older than 75 can enjoy lower premiums if they complete a safe driving course. These courses are offered by many high schools and private driving schools. Before you enroll in these courses, be sure to ask the insurer if they have preferred driving schools so you can be eligible for their safe driver deals.
Markdowns from setting up anti-theft devices
Adding safety or security devices to your vehicle can shave off 15% to 20% off the price of your policy. New cars often come pre-installed with these advanced safety technologies, so this option is more appropriate for older cars or less expensive but new car models that do not come with these features. The safety gadget that will provide the largest price reduction is one that is used or endorsed by your local or state law enforcement bureau.
Keep a good driving record
Among strategies to keep your insurance costs low, keeping a clean driving history is probably the most effective. You can save up to 40% by not being in any mishap or any traffic violations. Insurance providers assign points to moving violations and accidents to codify the seriousness of these events and determine how risky you are to insure. These points will fade in 3-7 years, making it doubly necessary to be a responsible road user.
No or Low down payment insurance plans
Down payment for insurance products can be substantial. To entice new car owners, many firms offer car insurance with no down payment. However, make sure to read the fine print of these offers because most of the time, these still call for some payment, usually a single month's premium. Sometimes, these policies require you to pay a certain amount of money in a pre-determined period before your insurance policy becomes effective.
Car insurance can be expensive, but the various types of discounts available to car owners can bring down your premiums to a manageable level. Striving to qualify for these discounts can help you cover yourself adequately from financial liability or loss without a significant cash outlay. Click here to locate no down payment car insurance.
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