Auto insurance is a very important type of protection coverage to have on your car. This lowers your financial duties should your car get involved in incidents that fall under your auto insurance coverage. Every road-going vehicle should be insured as this has become mandatory by most country’s transport department or ministry. Although we find auto insurance as important, it can sometimes be a drag, especially if you own a fleet of vehicles in your collection. In case you do, getting some sort of discount on the premiums will certainly help.
Here is a list of discount factors that can help lower your auto insurance premium:
Low Mileage – if you have very low mileage with the vehicle you are insuring, somewhere below 5000 miles per year, then you are eligible for a low mileage insurance discount. While this does not necessarily qualify you for the discount as certain appraisals still needs to be met, being eligible for the discount means you are only a step further in acquiring the discount. Low mileage means lower risk so your insurer will be more willing to lower your insurance premium.- Good Driving Record – if you have had a good driving record for the past 5 to 8 years, then you are eligible for the good driving record discount. If you qualify for this discount, you will lower your premium significantly. Insurers are willing to give discounts on based on long-term good driving record because they find themselves at low risk in providing auto insurance policy to you. This is one of the reasons why it pays to drive safely and have a good driving record.
- Good Credit Score – having a good credit score means you are a client that is of low risk as you surely would not want to jeopardize the good credit score that you have. If you have a good credit score, try to ask your insurer for a discount. Some insurers will be more than willing than others.
- Shopping Around – the best way to get lower premiums on your auto insurance will always be shopping around. Different insurers will have different premiums over the same type of insurance coverage. If you shop around, you may find that some auto insurance company provides lower car insurance rates than others – something that you will not find if you do not do any shopping around. This is the very reason why it pays to shop around when it comes to getting auto insurance.