You can also save by combining your auto policy with another one that the company offers, like homeowners or renters insurance. This can save you up to 10 percent in some cases.
There are some special discounts that take your lifestyle and personal details into consideration, too. For example, if you park your car in a garage or a fenced-in parking lot instead of on the street, insurers will often offer a premium discount because it means you are less likely to be a victim of theft. Insurers will also reward you with a lower rate if you are a safe driver who stays accident-free.
Similarly, many insurance companies offer discounts if you pay your annual policy in full rather than in monthly installments. This reduces administrative costs for the carrier and they can pass those savings on to you. In addition, some companies will offer a 5 percent or more discount to drivers who sign up for electronic billing.
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Finally, if you belong to a professional organization or are a military veteran, these factors could also earn you discounts. This is because these are viewed as positive qualities by insurers. These discounts are just the tip of the iceberg when it comes to the ways you can save on your auto insurance premium. The important thing to remember is that what really matters is the final price that you end up paying for your policy. The more you do to keep your premium low, the better off you will be. This is why it’s worth taking the time to assess your policy with a knowledgeable agent each year.
Get a New Car
When it comes to car insurance, there are many factors that can impact your premium. These can include everything from your driving record to your credit score. The type of vehicle you drive also has an impact. Fortunately, there are a number of ways that you can save money on your insurance premium.
One of the easiest ways to save on your premium is to get a new vehicle. Since new cars depreciate significantly, they tend to be cheaper to insure than older vehicles. Additionally, many insurers offer a discount for getting a new vehicle.
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