We’ve compiled over 20 years of experience to come up with 5 more tips on how to save when quoting your automobile insurance.
5. Discounts, Discounts, Discounts!
There are literally hundreds and hundreds of discounts that you may be eligible for. Here are a couple common discounts that can help you save big:
- Group Discount– This is one of the first places you should look for savings on your auto policy. If you are a member of an eligible Group, you could save up to 20% right off the bat. CLICK HERE TO SEE A LIST.
Hint: if you work in the Education field, some of the largest discounts are for you!
- Student Away at School – If you’re college student is at least 60 miles away at school and does not have an automobile available to them, you can apply this discount to your policy and receive a good savings.
- Wage Loss Waiver (In Michigan Only) – In Michigan the No-Fault Auto insurance provides Medical and Wage benefits if you are hurt in an automobile related accident. If you are retired and no longer receiving a paycheck, you may be eligible for this significant discount on your No-Fault Personal Injury Protection.
TIP: Insurance companies offer many different discounts. Make sure to maximize your potential savings by taking advantage of every discount available to you.
4. Be Careful with Accident Reward Programs!
Lately Insurance companies have started to really advertise accident forgiveness. It’s a great marketing package that makes it sound as though they are so grateful for your good driving skills, they are going to give you some of their money back as a reward! What most people don’t realize is that some of these programs actually cost you additional premium up front. In other words, you are paying them extra money in your auto insurance premium and they’ll give you some of it back if you don’t have an accident. If some cases, if you elect out of the “reward” program, your initial premiums will drop and you’ll pay less.
TIP: When quoting your automobile insurance, make sure to ask for the premium with and without a Good Driving Reward Package. You may be surprised at what the real cost is for the “Reward”.
3. New Car Replacement!
For most of us purchasing a new automobile is a huge investment. We know that as we drive our shiny new automobile off the dealership lot, nothing will replace it. If the ultimate unfortunate event occurs and our new car is unrepairable, we want a new one. With New Car Replacement programs, insurance companies suggest that they will purchase you a brand new automobile in the event of a crash. Beware, these programs can cost you additional premium and have limitations in them. For instance, one company’s provision states “at our option, we will…..”. Notice they have the “option”. They do not indicate that they “will” purchase you a new vehicle. There are also time limitations and mileage limitations. For example, the replacement provision only lasts 180 days from the date you purchase the auto and the mileage limitation states it must have under 10,000 miles.
TIP: Take a close look at the provisions of any New Car Replacement Program. Depending on the age and mileage of your automobiles, it may not be worth the extra premium.
Double Tip: An iSCHURING agent is available to quote it with and without New Car Replacement and help you with this decision!
2. Safe Driving Devices Really Work!
You’ve probably seen or heard about how insurance companies can track your driving habits through a plug-in device or your cell-phone. This allows them to monitor your driving habits for 90 days to see if you qualify for a safe driving habit discount. Yeah, we know it feels like Big Brother is watching, but only for a little while and for some people it really works! Basically, over a 90 day period the app tracks many different behaviors like speed, braking distance, hours of the day the vehicle is used and other factors. The upside is you may be eligible for up to 30% discount on your premiums. The downside is they may not provide you a discount and you will have to send the device back after 90 days.
TIP: If you’re willing to bet on your great driving habits and don’t care if the insurance company rides along with you for 90 days (in the form of an app on your phone or little black box) than take a chance and see what kind of discount you can earn.
1. Save Your MONEY on Auto Insurance by using iSCHURING.com!
There are a lot of things to think about and consider when purchasing auto insurance. ISCHURING.com allows you to quote your policy 24/7 with multiple different insurance carriers. As you make changes to your coverage, you get immediate results to see how it will impact the quote of each company. This allows you to make changes until you get the best insurance value for your money!
TIP: Use iSCHURING.com to prepare quotes with multiple carriers. Quote it several ways until your happy with the results. Then have an iSCHURING agent answer any questions, add coverage or finish your purchase and get you on your way to peace of mind.
iSCHURING’s Resource Center provides an overview of the topic, rather than an in-depth review. When deciding how this information applies to your specific situation, we recommend discussing with an iSCHURING licensed insurance agent. Any information provided at iSCHURING may also need to be reviewed by an attorney or tax consultant to determine the best course of action for your unique situation. No information may be copied, reprinted or otherwise reproduced without the expressed written consent of iSCHURING.com.