Top 10 Ways To Lower Your Car Insurance Bill (part 2)

6. Ask about low-mileage discounts. Many carriers offer discounts to policyholders whose annual mileage is lower than the norm. Maybe you have a short commute. Or maybe your participation in the office vanpool results in fewer hours spent in your daily driver. Whatever the case, your low mileage can score you a reduced rate with some companies, so be sure to inquire about available discounts.


7. Ask about group insurance discounts. Oftentimes, insurance companies offer discounts to policyholders who are members of certain organizations or professions, such as veterans, engineers or teachers. Request a list of these groups from your carrier to see if you qualify — you might be pleasantly surprised.


8. Ask about all other discounts. Some carriers offer discounts to policyholders whose vehicles bear certain safety features, like anti-theft devices or motorized seatbelts. Others give reduced rates to senior citizens, and to students whose grades meet certain requirements. "Many carriers offer discounts. Ask for them when you're shopping," says Hunter.

However, Hunter offers one caveat: "Some of the companies that offer the highest discounts have the highest rates, so don't get too focused on discounts. Some high-priced companies offer high discounts, but at the end of the day you're still paying more."


9. Avoid lapses in coverage. Even a brief lapse in coverage can disqualify you from receiving discounts. "They use lapses in coverage to increase your premium," says Hunter. Pay your insurance bills on time. And if you're switching carriers, make sure not to quit your previous carrier until the new coverage takes effect.


10. Think twice about paying in installments. Most carriers charge an administration fee to pay in installments. One carrier surveyed levied a $10 charge per installment to those who opted to break up their bill. The solution? Pay your premium up front, if at all possible.

Of course, this charge is more significant for those with small premiums. If you've got a king-sized premium and feel you'd get a better rate of return by investing your funds elsewhere instead of paying up front, then the installment route will probably best suit your needs.
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