insurance and investment guide

Insurance Discounts Due to Situation / Employment / Lifestyle

Mileage

* Mileage to and From
* The mileage that you drive to and from your job has an impact on
your insurance rate. In theory, the closer you are to your place of
employment, the less likely you are to experience an accident. If your
job changes and you are now driving 1 mile each way to and from work,
be sure that your insurance company knows and is rating you in that
class.
* Annual Mileage
* That same concept applies to your total annual mileage. The
fewer miles you drive, the less likely you are to experience an
accident. If your annual mileage falls below an average amount (about
12,000 miles per year) ask your insurance company if that will qualify
you for a lower rate class.

Higher insurance rate due to business Use

One factor that can force your premium up would be a job that requires
you to use your car on the road. A good example of that would be a
pharmaceutical representative. As a pharmaceutical rep, you will be on
the road a good amount and will likely be rated in a much higher
class. This rating is often referred to as "business" use. If you move
from a job where your car is rated "business" use, be sure your
company is aware of that change. The difference in premium can be
significant.

Retirement

Most companies will offer a discount when you drive less. In some
cases, there can be a discount due to a retired status and also a
discount when a vehicle is no longer being taken to and from a place
of employment. If you are retired, call your insurance agent and be
sure you are rated as such.

Affinity Discounts

As mentioned above, some companies will offer a discount if you are in
a particular occupation such as a firefighter, educator, or police
officer.

The bottom line is that you should be sure to shop your insurance
rates with multiple companies every few years. Being aware of
discounts that are available to you can save you hundreds of dollars.
Perhaps your insurance company doesn't have a discount profile that
matches up with your lifestyle. For example, an insurance company that
caters to the retired set isn't going to be the place to go for a teen
and an insurance company with rates geared toward youthful operators
isn't going to have an insurance discount profile that matches up with
a senior citizen. Good luck and drive safe!