Insurance Discounts

When it comes to insurance, it would come as no surprise that saving money on your premium is probably your priority. But have you ever considered other ways to receive a lower rate rather than shopping around or lowering your coverage? I’ve listed a few topics to consider that will most likely result in more savings down the road then you’d think.

Multi Policy

When insuring your assets, really consider keeping them together verses having them at separate carriers. One of the easiest discounts you can get is the multi policy discount. Bundling all your policies with one provider will likely give you a discounted rate on your premiums.

Loyalty

How long have you been with your current provider? Carriers often give discounts to clients who have been with them for an extended period of time. Chances are, the longer you are with your current provider the more of a discount you’ll receive at renewals down the road.

Another thing to consider when it comes to loyalty, is how it reflects on you as an insured. When shopping for new insurance, generally one of the questions you will be asked is, “How long have you been with your current carrier?”. Here’s why, insurance carriers consider your insurance loyalty when generating an insurance quote for you, they want to know the length of time you’ve been with your previous insurer, or in other words, determine if you jump around to different carriers at every renewal term. Another reason loyalty is something to really consider before moving companies.

Continuous Insurance

Maintaining continuous insurance is another easy money saver. Having a lapse in coverage impacts your rate whether it’s with your current provider or when you go to shop around for insurance. Again, carriers take your insurance history into account, asking the question, “Do you currently have insurance?”. Don’t let a lapse in coverage keep you from getting one of the easier discount rates.

Accident/Claim Free

Having an accident free or claim free insurance record for the last 5 years is another way to save on your insurance premiums. While accidents happen and may not be preventable, being more mindful and safer when you drive is another way to get an insurance discount.

Insurance History

Sometimes sticking with your current carrier is the way to go, and sometimes it’s not, but if you are doing your part in maintaining a great insurance history, a great premium will hopefully follow.  So, the next time you’re looking to save a few dollars on your insurance, consider the topics listed above, and see if you’re doing what you can to keep your premiums down!

Disclaimer: All carriers and the discounts they offer vary. Not all carriers will offer the discounts listed above nor the same discounted rate. Every person’s policy premium will vary.