If you’re looking to save money, you might decide to pick up a second job or dine out less frequently, but have you considered reviewing your insurance policies in an attempt to cut costs? Although often overlooked, revisiting your insurance policies and ensuring that you are receiving the discounts for which you qualify could score you substantial savings. The following discounts represent just five of the various ways you can save money on your Hillsborough NH insurance policies:
1. Paid-in-full discount: Although it may hurt your bank account at first, paying for your insurance policies in full will help you cut costs over the long term. In fact, many insurance companies will reward you with savings of up to 10 percent on your policy for paying all at once, so it’s important to keep this in mind and plan ahead financially if you’re looking to save.
2. Multi-policy: Another way to reduce your rates is to insure more of your assets with the same company. For instance, if you currently have a homeowners insurance policy with one company and an auto insurance policy with a different company, you may be able to save up to 25 percent by moving both policies to the same company.
3. Residential security system: If you have an alarm system installed in your home and aren’t receiving an insurance discount, you may be missing out on savings you qualify for. Since your home would be considered less vulnerable to burglary, some insurance companies will offer you a 20 percent discount for having a security system installed.
4. Safe driver: Although each insurance company has its own definition of a “safe driver,” the longer you remain accident- and violation-free on the roads, the higher your chance of saving money on your auto insurance. While one company may offer you a two percent savings for each year you avoid an at-fault auto accident, another company may examine your driving habits over several years to determine your discount.
5. Low mileage: Do you have a car you rarely drive? Whether you have a short commute, work from home, or have a child who moved away to college and left behind his/her vehicle, you could qualify for a discount on your auto insurance depending on how many miles your car accumulates annually. If you drive less than a certain amount of miles – 8,000 per year for instance – you may see a savings of 10 to 20 percent on your auto insurance.
In addition to these common insurance discounts, there are many other ways to reduce your rates, from qualifying for a good student discount, to earning savings for belonging to a particular group or professional association. The best way to ensure that you receive all of the insurance discounts for which you qualify is to work with an independent insurance agent, who will take the time to assess your specific situation and find the best coverage for your needs.
At Knapton, Reade & Woods Insurance Agency in Hillsborough, NH, we will work with the many different insurance companies we represent to find the best coverage options and discounts available to you. To get a free insurance quote and see which discounts you qualify for, please call us today at 603-464-3422, or submit our online quote request form.
