• Research potential discounts. The III notes that many companies offer discounts to policyholders, even if those discounts are not necessarily promoted. Drivers can contact their insurance companies, or shop around with other providers, to ask about various discounts that can save them money on their policies. Anti-theft devices, defensive driving courses, low annual mileage, and a strong credit record are just a handful of the many potential discounts drivers may be eligible for.
Drivers can reduce the cost of their auto insurance policies in various ways, potentially saving themselves hundreds of dollars each year as a result.
Did you know?
When shopping for auto insurance, drivers may be most concerned by the bottom lines on estimates they receive from potential providers. However, the Insurance Information Institute recommends that drivers also investigate a company’s reputation and stability before purchasing an auto insurance policy.
Rating companies like AM Best (www.ambest.com) and Standard & Poor’s (www.standardandpoors.com/ratings) vet insurance companies in terms of their financial stability.
In addition, government organizations may be able to provide potential policyholders with information regarding the history of consumer complaints filed against certain insurance providers.
That history, coupled with information regarding a given firm’s financial stability, can give drivers an accurate picture of insurance providers and whether they’re trustworthy or simply the most affordable option on the market.