Car insurance can be expensive, especially for drivers on a budget. Policies can often be confusing, and many people have the wrong amount of coverage or pay too much for their insurance. This can be especially true for seniors. As you grow older, your insurance rates can fluctuate both based on your age and other factors. Thankfully, some factors are in your control.
Insurance agencies often offer discounts to seniors, so make sure to ask your ISU-Wiseman Insurance agent about discounts you may qualify for.
Here are some discounts to consider.
Discounts Based On Age
You may qualify for car insurance discounts based on your age. Discounts typically start around age 50. These discounts grow the older you get.
Customer Loyalty And Bundling Discounts
Insurance agencies may offer discounts for clients who stay with them for a long period of time, as well as for clients who bundle policies such as auto and home. Agencies want clients to stay, and they often reward those who do. If you have been with the same insurance agency for a long time, you can likely receive a discount.
The same goes for being a new client, however. Some insurance agencies give you a discount for signing a new policy with them. Just be careful not to switch agencies too frequently. Insurers often see that as a red flag.
Adding vehicles to your policy often mean adding expenses. However, insurers will frequently give discounts if you have more than one vehicle on your policy. This is especially useful if you share a policy with your spouse or children.
Payment Types And Deductibles
Even the way you pay for car insurance can save you money. Paying annually instead of monthly can save on the monthly service charges. This also means that you’ll be paying more upfront, of course.
The same goes for your deductible. Your deductible is the amount you must pay when it comes time to file a claim. You can choose to have a higher deductible in return for lower monthly premiums, but this means you will pay more for your deductible if you must file a claim.
The rate of discounts available vary depending on your location, age, vehicle and other factors. Be sure to speak with your ISU-Wiseman Insurance agent about any discounts available to you and drive safely.
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