We would all love cheaper car insurance. Many things cause insurance rates to skyrocket, including accidents, lack of driving experience, moving violations, etc. Although many things can affect our car insurance rates, it usually pays to try to negotiate with insurance companies for lower rates.
Most of us likely know that having car accidents on our driving report will negatively affect our insurance rates. Generally, after a period, these accidents will drop off our report. When this happens, we may qualify for cheaper insurance rates. Going years without an accident gives us room to call our insurance agents and negotiate some savings on our policies.
Another way to negotiate with an insurance agent is to take advantage of any professional association discounts that we may have. Check with the agent to get a list of the professional association discounts they offer. Even being a member of an association at a workplace might entitle us to steep discounts in car insurance. The agent does need to be made aware of any association memberships to give the discount. One example of a professional discount typically offered is the teacher discount. Educators can usually obtain reduced car insurance rates.
A lot of us subscribe to AAA towing services. Being a member of AAA may provide us with discounts on our car insurance policies. Even newly obtaining a AAA membership might be worth it if the discounts are drastic enough.
Less Expensive Elsewhere
Sometimes we need to contact our agent and let them know that we can find the exact same vehicle insurance policy for a cheaper rate elsewhere. When the agent knows that we might be transferring our insurance policy to another insurance company, it gives the current agent the motivation to make sure that their own agency has the cheapest rates.
Speed Monitoring Device
We can often negotiate ourselves cheaper rates if the insurance company we’re doing business with offers speed monitoring services. With the installation of a speed monitoring device in our vehicles, it provides the insurance agent with the information needed to possibly provide us with a lower vehicle insurance rate. The information is typically digitally tracked, and the best drivers can obtain the best insurance discounts. However, not every insurance company offers these devices for vehicles.
When we negotiate combining other insurance policies with our car insurance policy, the reaction of the agent is usually to drop our car insurance rates. For instance, we might want to check into the possibility of combining both home and life policies with the car insurance policy. The more business we give insurance agents, the more they like to cut rates in general. However, comparing the overall picture is very important in this scenario. Sometimes, combining policies will lower our car insurance rates, but it might actually raise the rate we pay for something like home insurance. That would not make the bills we pay each month any cheaper. Using a negotiation tactic of offering to combine policies is always worth trying, though, as savings can be drastic with the right insurance agency.