Car Insurance – Knowing the Standard Discounts and a Few Others

When you purchase car insurance, there are a host of discounts at your disposal. Some of them are the “run-of-the-mill” standards, but you have to ask about some of the others. If you’re not sure what’s available, the information below will help.

* Age – Once you reach the age of 25, your car insurance premiums will go down. Why? Insurance companies came to the conclusion that both men and women become more mature once they reach 25. In the past, most couples were married by then, had at least one child, and drove more domestic vehicles. If you’re not 25 yet, your premiums will be lower when you reach it.

* Marriage – Yes, married couples can receive lower rates on their car insurance premiums. There are a few different reasons for this, but the main ones involve domestication and multiple vehicles on the policy. If you’re married, be sure to let the agent know or fill out the information online.

* Military – Those who have served in the military can also receive benefits. If you receive this benefit, make sure the person serving or who has served, is on the policy. Otherwise you could lose out on the financial advantages here.

* Teachers – If you’re a teacher, some car insurance companies will offer a discounted rate. Unfortunately, this isn’t something available with all insurance companies, so you have to do some research.

There are plenty of others as well that fall into this category. However, it’s important to understand that NOT all car insurance companies will offer them.

Here are a few others:

* Good Grades
* Medical Students
* Multiple Policies
* Short Commutes
* Good Credit

Look into any of these, because they can all help you save money. Oh, and there is one more “standard” that you should consider…raising your deductible.

Anytime you raise your deductible, it allows you to have lower monthly payments (or a lower premium). Your state will have a minimum requirement, but you should think about all the scenarios before doing it.

For instance, let’s say you want to lower your car insurance, so you decide to raise your deductible to $1,000. Everything is going great, you’re saving money every month, but eventually you have something minor happen to the vehicle. It might be a knick in the window, someone side swipes your car in the parking lot at the grocery, or you notice tons of scratches.

Whatever the case may be, can you afford to pay the $1,000 deductible to have work done on the vehicle? When this occurs, most people shell out the money without paying the deductible, or they just let it go completely.

There has always been a debate as to how you should go about doing this with a new or old vehicle. We don’t have the perfect solution, because everyone’s situation will be different.

The best thing you can do is research all the avenues available. Eventually you will be able to use as many discounts as possible, even bigger ones like security devices on the vehicle and purchasing a policy on the Internet.

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