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tax returnsAuto insurance discounts come in many forms―good driving records, carrying higher deductibles, bundling policies, low mileage―but one of the most overlooked ways to save money on insurance is paying your insurance premium in full. 

Full Payment Auto Insurance Discounts

Each auto insurance company is different, but each one shares a common bond in trying to reduce paperwork and processing procedures. To help in this quest, many are now offering you, the driver, discounted auto insurance rates for paying your premium in full, rather than in monthly installments.

For example, say it's time to renew your current car insurance coverage and you're sent or E-mailed a bill for $531 covering the next six months of your policy. If you immediately pay the entire $531 amount, your discount will come in the form of avoiding installment fees. Depending on your car insurance provider this could save you anywhere from $50 to $100.

If this discount is offered by your car insurance company, most will be up-front about it. Unlike some other discounts you won't have to ask if it's available. It's the one discount every provider would prefer that you take full advantage of.

Other Little Known Auto Insurance Discounts

Some other lesser known car insurance discounts you should be aware of include:
  • Paperless Billing: This new and emerging discount rewards you for agreeing to Internet billing. Instead of receiving your bill via the post office, you receive it via E-mail. You can then pay online via credit or debit card or E-check.
  • Club Memberships: Some providers will award discounts for memberships to auto clubs or auto associations.
  • Good Grades: If you're a full-time student, some companies allow you (or your parents) to save money on insurance if you maintain at least a "B" average.
  • Occupation: Some car insurance companies offer insurance discounts to members of the National Guard, military personnel, teachers, and federal employees.
  • Credit Rating: The better your credit score, the lower your insurance rate.
  • New Parent: This generally pertains to parents, guardians and grandparents of kids six or younger.
Additional Auto Insurance Information

Need help on deciphering your state's insurance requirements? Or are you confused over the difference between comprehensive and collision? Have you received a tax refund and are unsure about the wisest way to spend this money. For these and all other insurance questions, give Cloverleaf Insurance a call at 636-928-1373

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