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Insurance companies often offer something called a multi-policy discount. This is where you purchase auto and home insurance from the same company, and get a discount for it.

Here are 5 other tips on how to save money when purchasing insurance:

  1. Always shop around: Insurance companies have different underwriting guidelines which can affect the rates you are being charged, and some companies are able to offer discounted rates. Using an independent agent will allow you to get different quotes and they can help you compare and choose the coverage that best fits your needs.
  2. Increase Deductibles Accordingly: A general rule of thumb is that the higher your deductible is, the lower your premium will be. The purpose of insurance is to get you to the same state you were in before the event. Be careful not to raise your deductible to such a point, where you’re spending more than you can afford. Increase your deductible to what you can comfortably afford.  Don’t raise your deductible, just to save on your premiums, because if an accident occurs, that large deductible will have to be paid off by you first.
  3. Ask for discounts: Senior citizens are eligible for discounts for up to as much as 10%. Good student discounts are also available with some companies, for those students with grade B and above. Your insurance agent is the best person to ask about discounts.
  4. Longevity:  If you find an insurance company you are happy with, and then stick with them. Loyalty to your insurance company pays off, and you could even get a discount for your loyalty. Three to five years with the same carrier may earn a 5% discount and six years or more as much as 10%.
  5. Credit score: Unfortunately, when finalizing premiums, your credit score is taken into account. So make sure you are aware of your credit score and work to improve it.
As an independent agency, we can help you develop coverages meeting your specific needs, drawing from some of the top insurance companies in the nation. Call us today for an Austin insurance quote at (512) 454-4567.
Posted 4:43 PM

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