Smart Auto Insurance Blog

Many companies such as credit cards, and grocery stores offer perks and discounts to their customers and you may be surprised to know that auto insurance companies are among them.  So many consumers either are unaware of the perks or do not take the time to take advantage of the perks, and that’s a shame because you can save a lot of money.

Some auto insurance companies offer discounts on dozens of major retailers just for being a customer.  Companies that sell flowers and movie tickets can give you lower prices just because of the auto insurance company that you use.

Credit card companies offer great discounts and rewards as well.  One trick is to use your credit card to pay your auto insurance bill if you are able to pay it in full each month.  This earns you a chunk of points to use at your favorite retailer, or to simply get cash in your pocket.  Most auto insurance companies accept credit cards including Eastwood Insurance and Infinity Auto Insurance.

So, take the time to check with your various companies and see how much you can save and where.  You may be surprised how much you have been missing by not having all the information.

In today’s economy more and more people are interested in saving money in unlikely places.  Many people don’t realize that it can be easy to save on your auto insurance quotes.  The article “Eight Tips for Saving on Your Car Insurance Rates” by Steve Cypher on autocreditexpress.com highlights the top 8 ways to save.

The first and easiest is to shop around and compare auto insurance.  This may seem obvious, but many don’t realize that they are paying too much for their auto insurance so don’t bother shopping around.  Another tip is to combine your policies for possible discounts.  Repair your credit before you shop around to get a lower quote.

Be sure to check and see if any professional associations you are part of earn you discounts.  AARP, certain university alums, and military groups are just a few examples.  Students often earn discounts as do certain cars and low mileage.  Another way to earn discounts that many don’t realize is to go paperless with your bill and payment options.

There are many unknown auto insurance discounts that consumers should be aware of.  The article “Little-Known Auto Insurance Discounts” found on savingadvice.com highlights some of the discounts.

Being a full time student can help you get lower auto insurance quotes.  Not only can being a student help you, but if you carry good grades, usually a B or higher, that can earn you further discounts.  Some auto insurance companies offer discounts for federal employees, members of the military, or members of various groups like AAA.

Discounts are sometimes offered to those who have the VIN number on their car window.  How you pay your bills can affect your auto insurance quote and so does where you live.  Driving less and having safer cars all can warrant you discounts on your auto insurance.  These are just a few of the variables taken into consideration when quotes are determined, but you do have control over them so it’s important to understand what factors are being considered.

The Hartford Financial Services Group has some helpful tips on how to save money on auto insurance found on courant.com in the article “Tips for Saving $$ On Your Auto Insurance” by Korky Vann. 

Many auto insurance companies will offer discounts to long time customers so it’s worth checking with your current provider to see what you may qualify for.  Also, some providers offer group plans from employers.  These are usually available from business, professional or alumni groups.  Discounts may be available through these associations when more than one car is insured on a policy or other products such as home owners insurance is used through the company.

Auto insurance quotes can also be lowered by paying your bills on time.  Your credit score is an important factor in determining auto insurance rates.  You can also raise your deductible for a lower monthly payment if you are looking to save money month to month.  The most common advice is to shop around to see what competitive offers may be out there.

According to the article “New Jersey Association of REALTORS(R) Endorses High Point Auto Insurance” from news.prnewswire.com, High Point Auto Insurance announced a new partnership with NJAR(R) that will save thousands on New Jersey auto insurance quotes for members. 

NJAR(R) has endorsed High Point Auto Insurance as their official auto insurance partner so its members will have access to a discount with one of New Jersey’s most respected auto insurance companies in New Jersey.

Jim Tignanelli, the president of High Point Property and Casualty Insurance Company, says that since they are also focused only on New Jersey residents they can provide meaningful coverage and benefits that include the specific needs of New Jersey auto insurance policy holders.

Members of a variety of associations can save on their New Jersey auto insurance premiums with a local insurer. According to a press release from High Point Auto Insurance, more than 75 groups are eligible for extra discounts, including:

• the New Jersey Society of Certified Public Accountants
• OnStar
• the New Jersey State Chamber of Commerce
• New Jersey Soccer Group
• the New Jersey Dental Association

This membership benefit can be combined with other High Point discounts, which the company claims can result in up to 50% lower auto insurance rates.

A Business Wire press release has announced that Geico plans to lower its rates for Georgia auto insurance! The company’s representative states that on average, the same policies will cost 2.3% less than they did previously. She credits greater efficiency with better Geico insurance quotes at the same time other insurers in Georgia are increasing premiums.

The decreases go into effect on February 8th for existing policies. They apply to newly bought policies immediately.

(Photo credit: sarahee under CC 2.0)

The state of Pennsylvania offers some consolation to people paying expensive student loans, according to Jon Delano from KDKA Pittsburgh, but not for much longer if a state legislator has his way. Pennsylvania auto insurance companies currently offer reduced premiums to those who are better educated. Their justification is that people with more education are better drivers and less likely to make claims for an accident than someone with less education, like a high school dropout. Using that logic, it would make sense to give a rate break to individuals with advanced degrees, much like insurers raise premiums for teenagers because they tend to take more risks when driving, or lower them for married men since getting hitched supposedly calms them down.

However, the chair of the PA House Insurance Committee thinks these policies are discriminatory. Delano says that Representative Tony DeLuca wants to pass a law barring the practice, which I think will be an uphill battle. He points to the exceptions; the Ph.Ds unable to drive for beans and the amazing drivers who never finished the 5th grade. While those outliers do exist, insurance companies make decisions about their policies based on research of the majority’s driving behavior. Not all single males under 25 are reckless drivers, but statistics show that there are enough of them to justify higher premiums for that group.

DeLuca suggests that insurers should focus solely on a person’s individual driving history when figuring out their rates, which is probably best for everyone. It’s a good idea to get multiple auto insurance quotes and compare rates. But in that case, how will new drivers with no history get auto insurance?

(Photo credit: keithreifsnyder under CC 2.0)