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Top 5 Easy Ways to Obtain Car Insurance Discounts

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Authored by Jayant Row in Insurance
Published on 04-02-2009

Every insurance company gives discounts if you have been a careful driver and have spent the past twelve months driving without meeting any accidents or earning tickets for speeding or other traffic infractions. Of course discounts for additional cars and cars with air bags installed are common. But there are other discounts that insurance companies may offer if you ask for them and make the effort to find out about such discounts.

  1. Did you know that you could qualify for a substantial discount if you had a degree in engineering, or mathematics or biochemistry? Actuaries have found that people in such professions tend to be careful drivers and hence the additional discount that is offered. The discount would be between 10 and 30 percent. Quite a bit, isn’t it? They also consider teachers and farmers as equally prudent drivers and give them discounts also.
  2. If you have installed car alarms, keyless remote control and steering wheel disablers, you could also qualify for discounts as installation of these devices, do deter car thieves. Car snatching is big business, and insurance companies get the rough end of the stick, because they have to honor such claims arising from thefts. So they prefer to reward you with a discount if you have taken the extra trouble to install anti-theft devices, which could reduce the chances of your car being stolen.
  3. There are tracking devices available that will always be able to track your vehicle, and the installation of such a device could help you to get a discount on the auto insurance. Such devices are able to track the position of cars, and are especially helpful when your vehicle is stolen. It assists the recovery of the vehicle and thus the installation of this stolen-vehicle recovery system is enough for you to get discounts on your yearly premium. Installation of a car navigation device that has tracking capabilities will also qualify you for this discount.
  4. You can substantially reduce the premium on your auto insurance if you prune the coverage. If your vehicle worth is less than ten times of the premium amount, tell your insurance company about this. They will offer to reduce your premium by removing from it the comprehensive and collision insurance if you so desire. This becomes feasible, as insurance claims for such old cars would become quite low after all the deductions. You have however to be that much more careful when driving.
  5. Another way of reducing the auto insurance premium is to raise the deductible figure. Insurance claims do not normally pay for this deductible amount which you can vary. So raising it form 200$ to 1000$ would reduce your premium by up to 40 percent. Also ask for discounts if you have done a defensive driving course or have anti-lock brakes. Your premium can reduce by as much as 25 percent. But the risk is yours.

It is always advisable to shop around and get quotes from various insurers and ask for these various discounts. You could save yourself quite a bit of money.

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