6. Adopt telematics if you agree to data collection
With the advent of apps that track your driving habits, many insurance companies can now adjust their rates more accurately. Examples include Snapshot and Drive Easy.
If you’re a good driver, you’ll probably get a discount just for signing up. And this discount can be even higher on your next renewal. But if you drive like a bat out of hell, obviously don’t go.
When it comes to auto insurance, your experience may vary from company to company. My old company was good, but others can be pretty bad and have a good chance of raising their rates. Conduct your research to choose the best solution for you.
5. Discounts are mostly BS
I blame it on insurance salespeople who talk about discounts like they’re old fashioned. In fact, recently a deaf person (using an interpreter) asked me if we had a deaf discount.
We offer discounts for a variety of things including ABS, safe driving (years without any activity), anti-theft devices, defensive driving course (for older drivers), student vouchers, multiple vehicles, alumni associations and professional organizations.
However, sales agents have no influence on your rates for a particular cover. Fees are filed with the state, so don’t try to negotiate them.
4. Multi-line discounts are a no-brainer
Many insurance companies are wise and put a lot of effort into making sure you have all your insurance policies with them. There’s a BIG chance that combining an auto, renters, home, umbrella or any other policy will save you a lot of money. This is especially true for renters as it is extremely cheap to start with and offers great coverage.
I’ve seen the multi-line discount pay the renter’s entire policy many times over and sometimes even pay more than that! I don’t know how it works, but customers don’t seem to care.