Discounts on Insurance

As millions of Indians look for ways to stretch their budgets to survive these tough economic times, too many are not utilizing all of the discounts that may be available to them in their insurance.

Customers will not take full advantage of all the discounts on their life insurance and auto insurance. 

“One of the biggest advantages to using an independent insurance agent is that they can explore the various companies and find the best possible coverage for each individual family or business, Finding specific discounts can be time-consuming and confusing, so we advise consumers to consult with  independent insurance agent like Jayaramu and ask questions.

How to Get Discounts on Car Insurance

Car insurance companies offer a large range of discounts, but sometimes they aren’t quick to advertise them all, save for some of the most common ones like bundling your home and your auto. 

To get the full range of possible discounts, be sure to ask your independent insurance agent about all of the discounts offered by their insurers. Keep in mind that while you may qualify for every type of discount, insurance companies will cap your discount amount at a certain threshold. Your premium can only be reduced by so much, because insurers need to collect enough premium to cover their expected losses in a given year.  

How to Prove a No-Claims Discount on Car Insurance

Every insurance company will run your MVR, or motor vehicle record, before issuing a new policy. If you’ve been with the same insurer for a while, they will still run your MVR every few years to keep tabs on your driving record. 

Typically, companies will look back between 3 and 5 years to determine your eligibility for either a claims-free discount or a safe driver discount. In addition to your MVR, they’ll also run a C.L.U.E report on your vehicle’s accident history. 

These reports will show if you’ve had any violations or accidents. In order to qualify for these discounts, you’ll need to have no claims at all; it applies to any type of claim, not just an at-fault claim. 

If you believe that you should qualify for a claims-free or safe driver discount, but your insurer says you don’t, it’s possible one of the reports they are basing it on is incorrect. 

How to Get Discounts on Homeowners Insurance

Homeowners insurance discounts are similar to car insurance because your insurer won’t go out of its way to offer you these discounts; it will be up to you (or your agent) to get them for you. By using an independent insurance agent, you’ll defer this extra work to them. Your agent will know which discounts each of their insurance companies offer and how you can take maximum advantage of them. 

Do Insurance Agents Get Discounts?

Independent insurance agents have access to an insurance company’s entire selection of products and discounts, meaning you might be able to receive more discounts by going through an independent insurance agent than you would by shopping yourself online.