The insurance industry is experiencing a hard market right now. This means everyone’s rates are increasing. Due to an increase in total claims among other reasons the insurance companies are raising rates across the board. One way to save is to make sure you are maximizing your discounts on your current policy. This month we will be focusing on auto insurance discounts. Here is a list below of some common discounts for your auto policy:
Multi-line discount: Also known as the Car & Home Discount, this applies when you have a property policy and auto policy with the same insurance company. Most of the time you would want to keep your home and your auto policy with the same provider
Multi Vehicle Discount: This discount applies when you have more than one car on the same policy.
Conviction Free Discount: Avoiding tickets can help you save on insurance. Getting a ticket will likely increase your rates but having a clear record can help you save.
Driver’s training: This one applies to new drivers. This discount can help when you or your child are paying high prices as an inexperienced operator
Loyalty: Certain insurance companies give you a discount for being with them for a long time. Others might give a discount for staying with the same broker.
New business: On the other hand there are sometimes companies that will give a discount on new business policies when you switch.
Retiree: This discount has a few requirements, but if you qualify you can save money on your auto insurance.
Student away at school: Have a child attending University or College? Some companies will offer a discount if they are living away from home at the school.
Anti-Theft: Some companies offer a discount for getting aftermarket anti-theft devices installed.
Private Parking: Some companies will offer a discount in you park in a private driveway rather than a parking garage or lot.
Cell Phone App Discount: Some companies give a variable discount if you use their cell phone app. The app tracks your driving habits and rewards good driving.
Winter Tire Discount: Having winter tires installed from November through March can also net you a discount!
Remember every company is different and not all offer all of these discounts. Be sure to talk to your broker at renewal time to make sure you are getting everything you qualify for! When you get your renewal paperwork or at any time you have questions give Absolute Insurance Brokers a call or email us!