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What Are Some Auto Insurance Discounts?

What Are Some Auto Insurance Discounts Blog

It’s that time of the year again, and you’re getting ready to renew your auto insurance policy. Every ringgit counts so you just have to be sure you’re getting the most value for your money. Are you aware of the multiple insurance discount features available to vehicle owners? Do you know if you qualify for them? How can you leverage these benefits to your advantage? Find the answers to these questions and many more now! Hello! My name’s Stella, Fincrew brand ambassador and I’ll be exposing you to some of the most essential auto insurance discounts you should be taking advantage of in the country today. The Insurance360 Video Series gives you all the data you need to make informed decisions about your auto insurance coverage package. Enjoy free access to this information by clicking the Subscribe button and enabling notifications now!

You need to have insurance to be able to drive in the country. However, you might find the standard fees of auto insurance cost-prohibitive. These prices become a lot more pocket friendly if you can avail yourself of the numerous discount features at your fingertips! Some important auto insurance discounts you should know about include:

The Defensive Driving Discount

Insurance operates on risk. If you can reduce the perceived level of risk you offer your insurer, they are usually more than willing to provide you with a discount. Taking defensive driving lessons can entitle you to as high as a 15% discount with many insurers. All you have to do is get a certificate of completion from a registered driving school and you’re good to go!

The Accident-Free Driving Discount

As we mentioned earlier, with insurance, it’s all about risk. For this reason, if you have an accident free driving record, any insurance company out there will offer you great discount bonuses. Due to the nature of this discount feature, not all drivers can leverage it. Also, the standard of eligibility set for this discount is dependent on each insurer. As such, the exact value of the deal you get, should you qualify for it varies from insurer to insurer.

The Low Mileage and Vehicle Usage Discount

One major determinant of what you pay as insurance is your geographic location plus how far and how frequently you drive your vehicle around. The safer your area of residence is estimated to be, the higher the discount you’re entitled to. Similarly, the shorter the distance you drive your car regularly, the higher your discount rate gets.

The Customer Loyalty Discount

This discount feature also varies significantly from insurer to insurer. If you’ve been able to maintain your policy without hassle, your insurance proper will usually offer you a discount as a show of appreciation and an incentive to encourage you to stay on with them.

Discount on Multiple Vehicle Insurance

You are also automatically entitled to a discount, if you take out an auto insurance policy on multiple vehicles with the same coverage provider. You can get as much as a 25% discount spread across all policies you take out.

A requirement many insurers follow is that the cars insured belong to individuals with strong familial ties. Want to know more discounts you can tap into? Then Like this video and don’t miss the next one! Subscribe and enable notifications now so you get it as soon as it’s live! See you soon!

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