Edward E. Hall & Company
Auto Insurance Discounts - Did you know ...
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There is a very good chance that you may be paying too much for your personal automobile insurance. This is particularly true if you are unaware of the numerous available discounts. The following are discounts to ask your agent about. Some may not be available in all states and from all insurers, but it doesn't hurt to ask. These discounts may significantly affect your insurance premium.
* "Defensive Driving Discount." This discount can save you 10 percent on most of the major coverages under your auto policy, such as liability, medical payments, and collision coverage. Defensive driving courses can cost as little as $20 and last as few as 5 or 6 hours, and the discount normally applies for 3 years.
* "Good Student Discount." Statistics show that good students tend to be more reliable and mature than students with marginal grades, leading to better driving decisions. Therefore, many states allow a 5 to 10 percent discount if your student driver makes good grades, usually an overall "A"
or "B" average in high school or college. If your child has to pay his or her own automobile insurance, this can be another motivator for him or her to make good grades.
* "Home/Car Discount." Many insurers offer discounts of 10 percent or more if they provide both your homeowners and personal automobile insurance.
This can lower your costs on both policies.
* "Auto Safety Features." Most insurers recognize that owners with cars containing safety features may have fewer accidents and reduced injuries.
Many insurers encourage drivers to purchase cars with antilock brakes by giving small discounts for these safety features. Other insurers give discounts for vehicles with airbags and daytime running lights.
Published on Friday, October 20, 2006
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