Top Five Car Insurance Discounts – Many consumers just assume that they are already getting the best rate on their car insurance. Others stay with their car insurance company only because it is the same one their parents used. Whatever the case may be, the bottom line is that many consumers are paying too much for their car insurance, and they do not even realize it. Fortunately, consumers can easily find significant savings on their car insurance simply by asking their insurer about what discounts they qualify for.

Top Five Car Insurance Discounts | Here Are Five Discounts To Ask About
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Here are the top five discounts to ask about:

1) Low Risk Occupations. The most important thing to remember about car insurance is that it is a numbers game. Insurers have been in business for a long time, long enough to have collected mountains of information about what types of people are more accident prone than others.

Engineers, for example, tend to be safer drivers and have fewer accidents, which mean they pose a lower risk to the insurer and therefore qualify for reduced rates. Always ask about discounts involving occupation.

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2) Auto Clubs and Professional Organizations. Most consumers already know that they can save money on hotel rooms and other services by being affiliated with these organizations. As it turns out, being a member of these professional organizations also qualifies them for lower insurance rates. Employers may also offer group insurance rates, so be sure to ask about possible discounts.

3) Combined and Renewal Discounts. Many consumers can find significant savings by insuring their car with the same company that insures their house thanks to the combined coverage rates that many insurers offer. Not only will their car insurance be cheaper, but so will their homeowner’s policy as well.

It is also important to ask about renewal discounts. Insurance companies offer these to loyal customers who have carried insurance with them for several years. Consumers who have not had any accidents will also qualify for discounts. Remember, insurance companies love safe drivers.

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If there have not been any accidents, then all the company has had to do is send a bill and cash a check. Giving consumers a discount for their good behavior and loyalty ensures that they keep coming back.

4) Discounts for Auto Safety Features. Many insurers also offer discounts for certain safety features, so it pays to keep an eye out for them when shopping for a new vehicle. Antilock brakes, for example, will often result in a lower payment. Other safety features that may be discount worthy include automatic seatbelts and airbags.

5) Assume More Risk. Consumers often carry more insurance than they really need, so changing their policy is a quick and easy way to realize instant savings. For example, if their older car is valued at under $2,000, then chances are they are paying more for insurance than the car is actually worth.

In that situation, it makes sense to drop the collision insurance. Another way to get a lower rate is to simply assume more risk by asking for a higher deductible. The deductible is simply the amount that consumers must pay before the insurer picks up the bill.

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This means being on the hook for more of the small dings and dents, but safe drivers will generally see few of these and save a significant amount of money in the long run by going with a higher deductible.

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