Car insurance can be pretty expensive in today’s world however, there are a few ways you may be able to reduce the premium of your insurance. Depending on how many you are eligible for, you may be able to save a good amount of money. So if you are looking to save on auto insurance in Frederick, MD, here are some tips to follow.
Multi-car or Multi-policy discount:
If you have multiple vehicles and/or drivers, Most insurance carriers offer a multi-car discount if you insure them all on one policy rather than all on separate policies. Insurance companies would rather insure your whole risk rather than just fragment parts of it, offering a multi-car discount rewards you by doing so.
Similarly, if you buy several different types of insurance policies from the same company, you may be offered a Multi-policy discount. For example, if you buy insurance for your Home, Auto, and motorcycle from the same insurance Carrier, they will most likely provide a discount on all three policies making it much cheaper for you! The discount is calculated differently for each carrier, but the biggest one is between a residence and auto. Residence policies include, renter, homeowners, secondary homes, and landlord properties. When combined with your personal auto policy you would most likely receive a multi-policy discount on all of the residence policies you have. Other policies to consider bundling for a discount are: umbrella, motorcycle, recreational vehicles, personal article policies (jewelry and expensive items), etc.
Ask about a safe driver discount program:
Being a Safe driver has its advantages. Having no or very few driving violations can qualify you for a safe driver discount automatically. These discounts are offered to people after assessing your driving history and insurance score. A good Frederick insurance agency might even require you to have no claims in a certain period of time; for example, no violations in the last 5 years.
Another option if you are a safe driver is a telematics safe driving program, these are especially good for young drivers. Most carriers provide these programs to their new and current insureds, they are normally somewhere from 3-6 months. During the time period you are participating in the program, your carrier receives information from your vehicle or smart phone about your safe driving habits. They track things like hard stops, speeding, acceleration, distracted driving, and the time of day driven. Your carrier’s representative and agent have no access to your driving history, except sometimes your current score. Only you can see what the good or bad factors are that are impacting your score.
Take a defensive driving course:
If you have too many violations on your driving record, it is often difficult to save or even get auto insurance. One of the best ways to reduce points on your license is to take a defensive driving course or an accident prevention course.
Before joining one of these courses, you want to make sure that your insurance company has discount policies for these kinds of driving courses by talking to your agents. Otherwise, your efforts and money paying for a course may be wasted. Also, make sure that you are joining an accredited course, provided by a certified instructor.
Install anti-theft devices:
Installing anti-theft devices in your vehicle can lower your insurance premium to some extent. Just make sure which devices are eligible for a discount by your insurance company. Usually, car alarms and LoJacks are types of devices that most insurance companies recognize.
If the only reason for you to install an anti-theft device in your car is to lower your premium rates, make sure that the discount is significant enough to compensate for the money and effort you have invested in installing the device.
If you are a safe driver who does not drive a lot you might be eligible to switch to a pay-as-you-go type of insurance premium. Under these package terms, your insurance company tracks your driving style i.e. how safely you drive, how frequently you drive, and how far you drive through a telematic device that they install in your car with your consent and knowledge. If you drive less than 10,000 miles a year, you could save a lot of money on your auto insurance.
Any additional discounts:
Most insurance companies provide all different kinds of discounts that you may be eligible for. The only way to make sure you are taking advantage of these discounts is to ask about them.
- Discounts for paying the entire annual or half-yearly premium all at once.
- Discounts on electronic billing or paperless billing agreements.
- Discounts can be offered to the individuals of a certain community or group.
However, don’t get overwhelmed when seeing a long list of possible discounts and try rationally comparing discounts and normal rates offered by different insurance companies.
Size of your vehicle:
A bigger vehicle can mean a higher premium. So, if you want to save on auto insurance, make sure you are taking that into consideration when buying your next vehicle. Some insurance carriers also offer discounts if your car runs on alternate fuels and is environmentally friendly.
So if you can apply some of the tips written above, you can save yourself some money. Just remember to reach out to your agent to help decide on which offers you are eligible for.