Given that around 40% of drivers never compare prices for their car insurance, a lot of drivers could be overpaying for their insurance.
If you don’t see what other deals competitors have to offer, you might be paying twice as much for car insurance than you need to. There are some clever automobile insurance discounts that require a little bit of hacking to get.
Car insurance is a legal requirement in every state except for New Hampshire and Wisconsin. The quantity of people needing insurance is one of the reasons why it can be so cheap. If you talk to the right insurance company, you could have your policy catered to your precise needs for a fraction of what it would cost in many states.
If you want to get access to some of the lesser known automobile insurance discounts, check out these three options.
1. Mileage Discounts
If you only have your car for emergencies or for driving super short distances, you could get a discount. For students who only take their car to and from their college once a semester, this could be the best option.
The less you use your car, the less you might be able to pay. You might have to install a device in your car to track the mileage or else you’ll have to bring your car in for a mileage check every once in awhile.
This might be worth it as you could save $50-$100.
2. A Concurrent Insurance Policy
Having multiple policies with an insurance company is the best way to unlock secret discounts. The car insurance discounts to ask for from your company are the ones where you can bundle your insurances together.
Bundling your car insurance with your homeowner’s insurance policy allows you to get access to a discount. If you also have a life insurance policy from the same company, you could save a few more percentage points off of your premiums.
While this is a little-known hack for getting insurance discounts, it’s actually offered by most insurance companies. You could save a few dozen extra dollars a year. Pair this up with another hack for the best deal.
3. Set Up An Automatic Debit
Insurance companies love to get paid in full and on time every month. In order to make this easier for everyone, you could allow your insurance company to take an automatic debit out every month.
Many insurance companies offer this service and if you speak with your representative about it, your transfer could result in a discount. You could save a few dozen more dollars on top of your other hacks.
Automobile Insurance Discounts Are All Around
Depending on whether or not you’ve taken any defensive driving courses or any special training, you could be eligible for automobile insurance discounts. With so many ways you could end up in an accident, insurance is a must. However, it doesn’t need to be a crippling expense.
If you want to know ways that car insurance companies are trying to make it more affordable, check out our guide to what’s happening in the industry.
