Top Most Valuable Car Insurance Discounts
Having some discounts available is a great thing for your finances. This is why you should always ask the insurer for a list of discounts offered by company. You should also get car insurance free quotes as often as possible and compare prices. But first, let’s check the top most valuable car insurance discounts.
- Paid-in-full discount. Paying your annual premium in a single turn will help you get a discount. The company will also save money by reducing the monthly administrative costs. The value of the discount varies by insurer, but generally, you can save around 10%.
- Switching carriers discount. Many companies are happy when you switch carrier and choose them. They are so happy that they will give you a 5% discount, typically available for the first and second terms.
- No-claim discount. This is one of the biggest discounts available and it can save you up to 25% off your premium. All drivers on the policy have gone at least 60 months (5 years) without an at-fault accident claim or DUI/DWI conviction are eligible for this discount. Your insurer may impose additional terms and conditions.
- Driver education discount. Elderly who want to refresh their memory and make sure that are able to drive can enroll in a defensive driving course. They will be greatly rewarded upon graduation. Besides getting better rates and the eligible for driving status, they will also get access to point reduction mechanism.
- Good student discounts. Students who like to study more than the rest will be happy to know that this will also save them money on car insurance. The value of this discount varies by company, but generally, is around 10%.
- Low mileage discount. Driving less than the average lets you less exposed to accidents. Insurance companies are aware of that and will help you by providing better rates.
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