What do your marital status, your teenager’s school grades and your professional associations have in common? They are just a few of the factors that could be affecting your car insurance rates. Believe it or not, insurers assess more than just your driving record when determining your premiums. Instead, they create an entire risk profile based on information they obtain about you. The more information they have, the more accurately they can judge your likelihood of needing to file a claim. In many cases, this could translate to discounts on premiums and a lower car insurance quote. Continue reading to learn more.
Insurance Scoring
Did you realize that some insurance companies are giving discounts up to 40% for have a good insurance score? Insurance scoring is used by the vast majority of insurance companies now and is a major factor in determining auto premiums. Make sure to pay your bills on time every month and periodically check your individual credit score. Here is one online site to check your report.
Young Driver Discounts
Putting a young driver on your auto insurance policy could easily increase your premiums by as much as 50 – 100 percent. Fortunately, some insurers offer discounts to young drivers who maintain a B average in high school, as well as a good driving record. Though the stipulations and discount values vary from insurer to insurer, those who qualify for good student discounts often score an average of 16 percent off their car insurance quotes.
Loyalty Discounts
Many insurance providers reward loyalty by offering renewal discounts on premiums. You may also be able to lower auto premiums by insuring multiple things such as a home, boat, atv, cycle, etc with the same insurance company.
Payment, Billing, and Renewal Discounts
Your car insurance quotes may be lowered significantly if you elect to pay in full for your premiums instead of in installments. You may also qualify for a discount if you eliminate paper billing and choose your new insurance coverage before your existing policy expires. If shopping for a new insurance auto policy, some carriers now provide discounts if a new policy is written many days in advance of the current policy renewal.
Safety Discounts
Safe drivers and safe cars are more affordable to insure. That is why many insurers offer safe driving discounts, as well as discounts to drivers who voluntarily enroll in an approved driver’s safety course. According to the Insurance Information Institute, you may also qualify for a lower rate if your vehicle is equipped with certain safety features, such as anti-lock brakes, anti-theft devices, and driver assistance technology.
Considerations when Requesting Car Insurance Quotes
It is important to note that some ways of lowering your car insurance rates, such as reducing your coverage, are not always beneficial and may actually cost you more money long-term. Never sacrifice the quality of your coverage in exchange for a lower premium. Your auto insurance policy should be designed to protect your best interests, whether you are involved in an accident or fall victim to theft or vandalism. It pays to partner with an insurance agent you can trust to help you achieve a better value without forfeiting the quality of your coverage.
If you live in Appleton or Kimberly, Wisconsin or the surrounding areas, you could be missing out on valuable insurance discounts. Let the team here at Thiel Insurance Group help you find the savings you deserve and provide you with free, no-obligation car insurance quotes today. We look forward to serving you soon.
