Even if you are drowning in student loan debt after getting that PHD in something that you’re not even working in, DON’T FRET! Having an advanced degree will decrease your car insurance rates. The majority of insurers will give discounts for attending some college and more substantial discounts for people with multiple degrees.
The less you drive, the less likely you are to have an accident and the less you will pay for car insurance. The majority of drives fall between 7,000 to 15,000 miles per year, but if you fall lower than that then you might qualify for a low mileage discount. If this sounds like you, then you should contact your insurer and ask if they offer low mileage discounts based on your account. You won’t get anything if you don’t ask.
Many insurers offer an advanced quote discount. If you know that you will be buying a specific car within the next week or two then you can buy and insurance policy before actually owning the car. A lot of insurers will offer discounts for this action because it shows that you are a more responsible person.
Although there may be no real correlation with your credit rating and how well you drive the insurance companies sure think there is. Your credit rating is one of the main components companies use when setting your rates. It’s not a discount, but maintaining a good credit rating means paying less for your premium, while a bad score is sure to result in higher rates.
Setting up automatic monthly payments via credit card or ACH DEBIT will affect the amount you pay each month and could have substantial discounts based on the insurer. Registering automatic payments sends the signal to the insurance companies that you are responsible and they correlate that with being a better driver. Make you sure set up those automatic payments! They make paying the bills at the end of the month easier anyway!
Insurers consider homeowners those that are done with their wild days and are ready to settle down. Having expensive assets to protect tends to make a person more responsible. You can try to combine insurance policies to save even more.
Defensive driving courses aren’t just for those with moving violations. Many states require insurers to offer substantial discounts to those that go through a defensive driving program. For example, New York and Delaware require insurers to provide a 10 percent discount in premiums for three years to drivers who’ve completed a qualifying defensive driving course. Almost anyone qualifies for defensive driving discounts. Check with your insurer before enrolling in one of these classes.
Certain jobs are more prone to car accidents than others. If you’re a manager or own your own business insurers will usually provide policies at reduced cost. Teachers and nurses are also eligible for reduced premiums, along with various other occupations.