Though car insurance is an unavoidable expense that comes along with the purchase of a car, yet you can at least use some discounts to steer clear of paying too much for the coverage. There are many car insurance discounts that are quite popular, but there are some unusual ones as well.
Types of car insurance discounts
Here are some of the discounts that you can use to lower your car insurance coverage costs:
- Good credit discounts – You need to find out your credit score. Most of the insurance providers nowadays take credit scores of the insureds into consideration before underwriting their policy and the cost of their coverage.
So, if you have a high credit rating, then that can help you to cut down on your car insurance costs by almost half. However, insurance discounts such as these aren’t usually promoted by the insurers. Then there are others who won’t let you know about the process followed to derive your ‘financial stability discount’.
This is why you need to show a score of over 700 to qualify for lower payments since insurers will consider you as a better risk than if you have one that is somewhere around 500.
- Occupational/employee discounts - The type of your profession and your place of work can help you to save a good amount of money on your car insurance.
To the insurance companies jobs that requires an insured person to drive less will translate into reduce risk and that cuts down the chances of accidents, thus fewer such incidents getting reported. So, if your profession is anything similar to this, then you may well ask for discounts from your insurer.
There are some dedicated insurance groups that provide coverage to a certain class of workers based on the level of risk they are exposed to. Some of them are firefighters, doctors, police, dentists, teachers and registered nurses.
- Anti-theft discounts – If you can get a car that has modern-day safety features like anti-lock brakes, air bags or burglar alarm, then that can work in your favor to help you get reduced insurance premium.
Still, it is very likely for a lot of people like you to stay ignorant of the possibility to save money on the comprehensive coverage of your insurance policy by getting anti-theft devices installed in your car.
Take for example, you can use car alarms, stolen-car tracking system, ignition cutoff switches and so on. A simple anti-theft measure built on your car can reduce its risk by more or less 25 percent.
Apart from the above ones, you can also take advantage of ‘green’ discount to lower your car insurance costs. It does not only help save the depleting greenery but also lowers operational costs for the insurance company, if you prefer an electronic statement instead of a paper-based one. There are some insurers who’ll provide you with discounts, if you ask for a statement via your email.