Auto Insurance Discuss

1. Discounts for prior insurance. Clients can get up to 10% discount if they can proof that they had prior insurance with no break during the last six months. Your previous policy must not have failed more than thirty days, depending on the insurance company. You will get higher discount rate if you can proof that you have your insurance for a long time. You have to show an official proof from previous insurance company. You need more than just statements from your agent or temporary documents. It has to be a valid insurance ID card released by the previous company, not agency, or your contract.

2. Multi car policy discount. You get up to 10% discount if you have more than one vehicle insured under one contract. Remember that you cannot insure your neighbor, or partner, under your policy. The name on the policy needs to have ‘insurable interest’ in the insured car.

3. Homeowner discount. You may be eligible to have a discount if you possess a home or a condo. Insurance companies usually ask for a proof (mortgage payment or home insurance policy) to be an evidence of ownership in a residence. This may not qualify you for this discount if you own a home under your cousin’s name.

4. Discounts for having multiple policies (package policy or multi account discount). You can get discounts if you are insuring two or more policies with the same insurance company. For instance, if you buy a life policy with the same company you may be eligible for a discount on your car insurance policy. You may even get big discount on this package of home and auto.

5. Discount for part time drivers. This is typically appropriate when the number of adult drivers is more than the number of vehicles, with extra youthful driver under age 25. Some companies will allow an ‘occasional’ status for the young drivers in those situations, and a discount is given.

6. Good student discounts. You can avail this discount with standard and preferred companies for insured students who get high GPA in their school. The discount is about 5% of the premium of the vehicle owned by a good student.

7. Auto security system discount. This is another limited 5% discount on the premium of the comprehensive only (not liability or collision premium). All companies give this discount right away since most vehicles come with a security alarm.

8. Other miscellaneous discounts such as antilock brake system, air bags, etc. Most of these are minimal discounts and most rating systems already embrace them in the final premium.