6 Tips to Get Discounts on Car and Home Insurance

Next time you are shopping around for auto insurance and/or home insurance you should keep an eye out for some of these potential savings. Insurance companies offer various discounts and some are available to everyone and others are only available to certain individuals. The best way to maximize these discounts is to ask an independent insurance agent on ways you can save on your personal insurance.

  1. Multiple-policy Discount – if you’re shopping for auto insurance, consider bundling it with your home, condo or apartment insurance as well. We have seen savings between 5% to 25% bundling more than one policy

  2. AAA Discount – nearly all auto insurance companies offer roadside assistance as an option but some companies will offer you a discount if you are a AAA member. Some companies offer even bigger discounts if you are an AAA for an extended period of time.

  3. Paid in Full Discount – nearly all auto insurance companies, and some homeowner insurance companies, will give you anywhere from 3% to 10% off of your insurance premium if you pay it in full for the year (up front).

  4. Shop Your Insurance Early – most insurance companies will give you a discount if you shop your insurance roughly 5 to 7 days before your policy is due to renew. These discounts range anywhere from 3% to 8%.

  5. Driver Tracking Device – insurance companies nowadays offer their insureds the opportunity to install a driving tracking device into their vehicle. The device is extremely simply to install and requires no work by the insured after it’s installed. The device tracks certain driving characteristics such as distance traveled, time of day, excessive braking and excessive acceleration. Some companies offer discount as steep as 30% - be careful though as some insurance companies “penalize” you if your driving habits are not favorable.

  6. Electronic Funds Transfer (EFT) Billing – insurance companies offer many ways to pay your insurance premium however if you can’t pay in full consider setting up electronic funds transfer. The insurance company will automatically withdraw your monthly insurance premium out of your checking or savings account the same time each month. This form of payment usually saves about 3% to 5% versus paying via credit/debit card or bill-by-mail.

Curious what discounts you might be missing out on? Contact one of our licensed independent insurance agents today!

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