Every state except New Hampshire requires drivers to carry some level of auto insurance. It's an unavoidable expense, and it can put a big strain on your wallet. However, there are a number of discounts out there that you may qualify for. Insurers differ in which ones they offer, but here are seven of the most common types.
Multi-vehicle: Households with more than one vehicle may qualify for a multi-vehicle discount. You could cut up to one third of your premium by taking advantage, so see what your insurer offers.
Multi-policy: If you own a home, your insurance company may offer you a discount if you also purchase your homeowners insurance from them. Some insurers allow you to bundle your car insurance and life insurance policies together for a cheaper rate.
Anti-theft Devices: A car alarm or vehicle recovery transceiver can help prevent your vehicle from being stolen. Some insurance companies will offer you a discount if you install some type of anti-theft device.
Loyalty: If you've stuck with the same insurer for a number of years, they'll probably give you a discount automatically. This is one of the easiest discounts to qualify for.
Safe Driver: Drivers who cause accidents or incur moving violations will pay a higher premium because they present more risk to the insurance company. If you drive safely for a length of time, you'll probably automatically qualify for a safe driver discount.
Good Student: If you're still in school, try to keep your grades at a B average or above, as many insurers offer good student discounts. You may need submit your report card or college transcript to your insurance company as proof.
Low Mileage: In the eyes of the insurance company, the more you drive, the more likely you are to get into an accident. If you don't drive to work or commute only a short distance, you may be able to get a discount on your premium.
If you live in the United States, you are legally required to carry car insurance if you operate a vehicle. The specifics depend on the state you live in, but usually you will need to carry at least liability coverage. Since you can't get around this requirement, your next best action is to shop around for auto insurance quotes smartly. This can save you time and money, and hopefully make the necessity of car insurance less of a burden.More
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