Being a high risk driver does not mean that you have to pay extraordinarily high premiums. If you are shopping for auto insurance and you have blemishes on your driving record, there are still ways to keep your premiums low with other special discounts. If you are tired of paying more and more every time you renew your policy, here are some sizable discounts that you may qualify for.
5 Ways to Lower Your Premiums
1. Multi-Car Discount
If you own more than one vehicle, insuring all of your vehicles with the same company willl qualify you for a multi-car discount. You may also qualify for a multi-car policy if your spouse or another relative has their vehicle insured with the same company and lives in the same household as you. Insuring your vehicles with the same company will not only save you money, it will also make servicing and paying for your policies easier.
2. Multi-Policy Discount
Insurers that offer property coverage may also offer a multi-line discount. If you own a home or are renting a home, purchasing your homeowners insurance or renter insurance from the same carrier will qualify you for two discounts: one off of your car policy, and one off of your property policy. You will save between 10% and 20% off of your auto premiums, and another 5% to 15% off of your home premiums.
3. Good Student Discount
If you have a student living in your household, you know just how high the premiums for a youthful operator can be. Young drivers are considered high risk and one way to reduce the premiums for these high risk operators is to take advantage of the Good Student Discount.
Students must be enrolled in school full-time and earn a minimum grade point average of 3.0 or higher. Generally, drivers between the ages of 16 and 25 will qualify for this discount.4. Retiree Discount
If you are 65 and older and you are retired, you will qualify for a retiree discount. To qualify for this discount you must have been retired for the past 26 weeks and able to prove that you have not received any type of employment income.
5. The Safe Driver Discount
Many insurers are dedicated to reducing risk by encouraging young drivers to take voluntary driver training courses. Drivers 25 and younger who complete an approved driver safety training course may qualify for a safe driver training discount for as long as 36 months after the training has been completed.
By taking advantage of each of these discounts, you can lower your monthly insurance expenses so that you can keep more of your hard-earned money. Carrying coverage may be a requirement, but you do not have to miss out on discounts that you may qualify for that will lower your premiums. Speak with your agent to discuss which discounts you might qualify for and find out how much you will save. Once you see how much your premiums go down, you will wonder why you waited so long to take advantage of the savings.
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