Financial Challenge – Day 10

We completed the first two out of three parts to making sure that we’re getting the best deal we can on our auto insurance: comparing prices and calculating the price with various deductibles. Today we’ll do the final part to make sure that you’re receiving all the discounts for which you qualify.

Insurance companies base their rates on risk analysis studies. They do extensive studies to find out who is more likely and who is less likely to make an auto insurance claim. If you fall into a group that is less likely to make a claim, this will often result in a discount on your insurance rate while if you fall into the more likely group, the chances are that you’re rate


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6 Responses to Financial Challenge – Day 10

  1. Zorro's Steno says:

    When I called to renew my insurance 3 months before I turned 25 last year, my agent plugged in the 25 year discount for me. He said that you can apply the discount up to 3 months early. This was with American Family.

  2. mjrube94 says:

    Two things: In NJ, all insurance companies are REQUIRED to give you a discount for taking the defensive driving course for 3 years. In my case, the savings would be $120/year for 3 years, and the cost of taking the course through AAA is about $60 per person. (Your company or civic organization may offer the classes more cheaply).

    Also, in addition to professional groups that may have discounts with certain companies, check your college alumni association, fraternity or sorority, etc.

  3. emanuel says:

    I’m saving this for future reference .
    Very comprehensive advice . Thank you .

  4. Pattie says:

    I plan on taking this information along with my policy book and sit down with our insurance agent. Excellent informative advice!

  5. jonathan radande says:

    That “slow children” sign is a classic.

    They really ought to redesign that sign.

    Is it saying slow down, there are children in this area?

    Or is it saying that there are children that lack mental precociousness in the area….

    just a thought.

    Great Article btw.

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