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Car Insurance at a Discount – How You Can Spend Less

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Here in Houston, the average amount drivers pay for car insurance annually is $2,211.62. This amount may not be high enough to land the city in the top 10 cities with expensive auto insurance, but it still is a hefty amount. Fortunately, there are ways you can get your car insurance on a discount. Listed below are some unexpected ways you can spend less when insuring your vehicle:

  • Automate payment

Insurance providers love to get paid on time, so they reward people who make timely payments a sure thing. There are companies that offer a discount to all drivers who opt for electronic funds transfer, or those who allow insurers to withdraw premiums directly from their bank accounts. If you automate insurance payment, not only will you pay your insurance on time, but you can also enjoy a 4 percent discount.

  • Drive short distances

You probably know you can spend less on car insurance by driving less, but did you know you can also save by driving shorter distances? If your commute is a short one, just about 5 to 15 miles, you can pocket some savings. Many insurance companies also offer a 4 percent discount to drivers with shorter commutes.

  • Drive less frequently

You can enjoy another 4 percent discount by not driving every day of the week. Several auto insurance providers allow such discount for drivers who drive less than 4 days per week.

  • Get life insurance from the same insurer

Most drivers know that it will cost them less to get their home and car insurance from the same provider. You should be aware that the same thing applies for life insurance as well. Obtaining your life insurance from the same company that provides your car insurance will also result in more savings. If you don’t have life insurance yet, consider getting it from your car insurer. Bundling will allow you to avail of a 4 percent discount.

  • Own your home

Think your residence has nothing to do with your auto insurance expenses? Think again. Believe it or not, being a homeowner makes you eligible for a 6 percent discount on car insurance. Some companies actually charge individuals who own their own homes, apartments or condos less in auto insurance than those who don’t.

  • Be loyal

Like other companies, insurance providers reward their loyal customers. How much is the reward? Roughly $46 a year. The loyalty discount that some companies offer to their policyholders doesn’t even require a long time of loyalty. While some offer discounts to customers of 3 or 5 years, others give discounts to those who have been customers for a year.

 

  • Renew in advance

You are not required to renew your car insurance in advance, but you now have a good reason to do so. By renewing your policy about 7 to 10 days before the end of the policy period, you can enjoy considerable savings. Some companies reward advance renewal with an 8 percent discount, or an average of $61 a year.

Final Note

Your insurance provider may not offer all the aforementioned discounts. You should call the company and inquire about the listed discounts and whether you qualify. If you are shopping for a new policy, asking about possible discounts is a must.

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