8 Common Auto Insurance Discounts

hey This Is Jeremy From Shine Insurance In Our Video Today Is The Eighth Most Common Auto Insurance Discounts. So, Let's Get Started You're Going To Learn Today Well Pretty Straight For We're Going To Dig Into The Eight Most Common Discounts Now Insurance Policies Are Based On Discounts As.

I'm About To Show You. So, Understanding What They Are Which Ones You Have Which Ones Maybe You Don't Have Is The Key To Really Understanding, If You're Paying The Right Amount For Your Insurance Policy Or You're Paying Too Much. So, By Watching This Video You're Gonna Have A Real Sense Of You Know What Are The Discounts That You Have And What Might You Not Have And Need To Get.

So, Those Eight Discounts Are As Follows Number One Is Safe Driving Number Two Is Accident Free Number Three Is Credit Number Four Is The Multis Number Five Is Age And Gender Number Six Paid In Full Seven Is Loyalty And Intro And Finally Association Or Job These Are The Eight Common Discounts And. I'm Going To Dig A Little Deeper Into Each Of Those In Just A Second. I Wanted To Just Let You Know First Though.

I've Created An Infographic For You Something That You Can Download And Have These Eight Discounts On A Document. So, It Makes It Easier For You To Make Sure That You Truly Do Have Them Or Talk To Your Insurance Agent About Them, If You Want To Download That, If Infographic You Can Do It Right Here Or You Can Do It Down In The Show Notes All Right Let's Talk About A Rookie Mistake Well The Rookie Mistake For This Video Is Not Understanding Your Discounts And Making Sure Your Company Has Applied Them Insurance Companies Aren't Motivated To Necessarily Apply All The Discounts Good Insurance Agents Absolutely Do, But You Know Sometimes Things Get Left Off Or Just Forgotten And. So, To Be Able To Look And Make Sure You Have Each One Of These Or Know Why You Don't Have Them Is A Key.

So, A Rookie Mistake Is Just Not Paying Attention By Watching This Video You Guys Are Already A Rock And Rolling On That One Let Me Give You A Quick Example Of How Discounts Work In Auto Insurance And Auto Insurance Quote Always Starts Really Really High. So, The Highest Price You Could Possibly Have Is Where The Quote Starts In This Example Let's Say It's A Thousand Dollars A Year Then A Bunch Of Discounts Get Applied Those Discounts Can Bring Your Premium Down Dramatically Sometimes Thirty Forty Fifty Percent Those Discounts Are Being Applied And Bringing Your Premium Down To More What You Would Expect It To Be. So, In This Example Thirty Percent Came Down Three Hundred Dollars A Year Less And.

So, What You're Actually Paying For Your Insurance Is Seven Hundred Dollars. So, The Discount Saved You Three Hundred Dollars A Year In This Example And That's Pretty Common Thirty To Forty Percent In Discounts Depending On How Many Of Them You Get Is A Very Common Change In Premium It's Just Important To Remember That Your Insurance Policy Actually Starts Really High And Then The Discounts Bring The Price Down Okay Let's Dig Into Them Number One Is Safe Driving Driving Safely Obviously Has Tons Of Advantages One Is The Price Of Your Insurance When You Get A Ticket It's Noted On Your Insurance Policy And That Can Often Result In Higher Premiums It Can Be Connected With Accidents Or Other Things To Increase Your Premiums Or To Remove Discounts For Safe Driving. So, That's Number One Safe Driving Is Good Anyway, But It Also Affects Your Insurance Premium Number Two Is Accident Free.

So, No Accidents Equals Cheaper Insurance Pretty Simple Right How Much Depends On The Company Some Companies Forgive A Single Accident Although They Do Charge You In Your Premium For That Accident Forgiveness. So, It's Not Exactly Free, But Most Will Pretty Hard Especially, If There Is More Than One Accident, If You Get In Two Accidents Three Accidents In The Last Three To Five Years Your Insurance Premium Is Going To Be Extremely High Because Those Accidents Are Piling Up And Insurance Companies Are Going To Take Away Discounts For That. So, That's Basically Accident Free Number Three This One's You Know Not Paid Attention To Very Often, But A Huge Factor In Your Insurance Insurance Premium Is Credit, If You Have Low Credit Then You're Not Getting Any Discounts Associated With Good Credit, If You Have Good Credit Then You're Getting Those Discounts And Those Discounts Can Be Significant.

So, Your Credit Can Be A Major Factor In Your Auto Insurance Premium And All Right Number Four Is The Multis And They're Two Of Them The First One Is A Multi-policy Discount And. So, This Is A Sometimes It's Called Bundling You'll See Commercials About This You Get A Discount For Putting Together Your Home And Auto Or Your Renters And Auto Insurance So, If You Have Auto Insurance And You Live In A House Whether That's Rented Or Home You Need To Make Sure That Your Auto And Home Are Bundled Together Unless There's Some You Know Extenuating Circumstance Putting Those Together Is Going To Give You A Discount On Both Auto And Home Especially, If You're A Homeowner It's A Large Discount On Your Homeowners Premium When You Put Your Auto Together With Your Home. So, That's The Multi-policy Discount And Then A Lesser Known One Is The Multi Car Discount, If You Have One Car You Don't Get This Discount When There Are Two Cars On The Policy Most Companies Will Have A Multi-car Discount.

So, You Actually Get A Discount For Having Multiple Cars In Your Household. So, That's The Multi Is The Multi-policy Discount In The Multi Car Discount Alright Let's Talk About Age And Gender Number Five Well Age You Know The Most Significant Age One Is, If You're A Young Driver Young Drivers See Significantly Higher Insurance Premiums That Tends To Go Down After Five Years Of Driving Experience And Then Again At Age 25 Insurance Companies Look At Who Gets In Accidents They Know Where Accidents Come From And They Know Young Drivers Have A Much Higher Likelihood Of Getting Into Accidents And. So, Insurance Discounts Are Based On That, If You're Older You've Got A Lower Likelihood Of Getting Into An Accident.

So, We're Going To Give You A Discount For That. So, Age Hat Is A Factor In Gender As A Factor As Well Women Generally Pay Less For Insurance Because Ladies Have Fewer Accidents Than Guys Again Based On Statistics Insurance Companies Are Looking At Actual Payouts On Insurance Claims And Deciding Ok We Noticed That Sixty Percent Of Claims Are Men And Forty Percent Of Claims Are Women. So, We're Going To Provide A Discount For Women And Not Give That Discount Two Min Because We See That Difference.

So, That Is The Gender Discount In The Age And Gender Discount Number Six Is Paid In Full And That's Pretty Straightforward, If You Want To Pay Your Policy In Full Not Spread It Out Monthly Your Quarterly Or Any Of Those Kinds Of Things You're Going To Get A Discount For That You Know The Most Expensive One Is Paying Monthly By Mail So, If You're Paying Monthly Right Now One Way To Save A Little Bit Of Money Is Set Up Automatic Payment With Your Insurance Company They Should Give You Some Kind Of Discount For That And That'll You Know Help Out Your Pocketbook, But Paying In Full, If You Want To Get The Discount For That Then Then That's What You Need To Do Number Seven Loyalty And Introductory This Is Interesting Because It's Two Very Different Approaches To You Know These Discounts To Opposite Approaches Here Some Companies Offer Introductory Discounts That Fall Off In Future Years. So, They're Going To Give You A Discount Because They Want That Number To Look Low When You're Deciding What Insurance Company To Go With And They're Hoping That You'll Go With Them To Me That's Kind Of Crummy In A Little Sleazy Like You Know, If You're Going To Have A Discount Just For Bringing Somebody On Board And Then Take That Discount Away The Next Year Like You Just Shouldn't Have The Discount In My Opinion, But Lots And Lots Of Companies Do That Especially The Big Ones They'll Give You A Number The First Year And Then That Discount Will Drop Off In Next Year's. So, That Is Introductory Discounts Others Offer A Discount For Each Year You Stick Around.

So, This Is A Loyalty Discount You Know These Are People Who Are Companies That Are Saying Well We Want Folks To Stay Stick Around We're Going To Reward Them For Doing. So, By Offering You Know Usually It's Like Two Percent Per Year Up To Five To Ten Years Or Something Like That. So, You're Getting A Discount For Every Year You Stick Around To Me It Makes A Lot More Sense To Do It That Way You're Rewarding People For Being Loyal And That's Awesome Interestingly Some Companies Also Provide A Discount For How Long You Were With Your Previous Insurance Company.

So, They'll Look When They're Offering A Quote To You And Say Well So-and-so Was There At The Old Company For Six Seven Years Looks Like They're Pretty Loyal We're Going To Give Them A Discount For That And Kind Of Continue That Because We Can See Their Loyalty. So, Loyalty And Introductory Is Number Seven And Finally Number Eight Associations And Employment Compute Companies Offer A Variety Of Discounts For What You Do For A Living And Associations You're Part Of. So, Some Examples Being A Teacher It's A Huge One And A Lot Of Insurance Companies Have Significant Discounts Up To Ten % Even For Being A Teacher So, If You're A Teacher That's Definitely Want To Share With Your Insurance Agents See, If There's A Discount For That Others Are You Know AARP Or A Part Of Different Associations You Know, If You're A Part Of Something Like That Let Your Insurance Agent Know You There May Not Be A Discount For It, But There's No Hurt And Asking And Seeing, If It's There.

So, That's Number Eight Alright. So, What Did We Learn Well We Went Through The Eight Most Common Discounts That Included Safe Driving Accident Free Credit The Multi Is Multi Policy And Multi Car Age And Gender Paid In Full Loyalty And Intro To Opposite Approaches There And Association Or Job. So, Those Are The Eight Most Common Discounts And Again, If You Want This On An Infographic Go Ahead And Just You Know Click Down In The Show Notes Will Connect You With In A PDF That You Can Download And You Know Keep For Yourself Alright We've Got Some Other Shine Videos, If You're Interested In Them The First One Is The New Home Buyers Guide 20 Minute Video That Really Digs In From The Moment You Decide That You Want To Buy A House All The Way Through Closing And Paying Your Mortgage Payment We Kind Of Break The Whole Thing Down For You And That Video Is Real Popular On YouTube And We Think For Good Reason Because It's Got A Lot Of Great Information In There Five Steps To A Homeowners Claim, If You Just Want To Understand How Homeowners Claims Work Or, If You're Experiencing A Homeowners Claim This Is A Great Little Video Just Kind Of Walk You Through Real Quickly How It Works And Then, If You Just Want To Laugh Deep Fried Turkey Fails There Are Some Examples Of Folks Not Behaving Very Well Making Some Poor Decisions When It Comes To Deep Frying Turkeys And You Can Laugh And Maybe Learn A Little Bit At The Same Time Finally Last Steps In This Video Are Twofold First Please Subscribe To Our Channel, If You Haven't Done.

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