Top 10 Insurance Premium Saving Tips!

As an independent insurance agency, Thornburgh Insurance Agency has the ability to find the best market suitable for each individual client’s needs. Over the last several years, the main concern has been economics and the need to save on premium. Each company we are partnered with has their own, often changing, rules which can be used to help the consumer. Although we proactively work to serve our clients, know that these tips might be applicable to you and we invite your response in receiving discounts that have not been applied yet.

  1. Account Credit – by packaging your homeowner’s and auto policies with the same company, can save you nearly 30% on premiums.
  2. Low Mileage– by driving less than 7,000 miles annually, Safeco now offers a discount.
  3. AAA Membership – by providing us with your AAA Membership number, Safeco now offers a discount on your auto policy.
  4. Good Student – by providing annually a copy of your high school or college student’s grades of 3.0 or higher, all companies offer a discount.
  5. Distant Student – if your college student is over 100 miles away without a vehicle, all companies offer a discount.
  6. AARP Membership – the Hartford now offers the discount on Homeowner’s policies as well as the auto policies. Please note to renew your memberships when needed as you will lose the AARP discount should your membership expire.
  7. Rewind – this is a program offered by Safeco to help with your auto rate if you have had violations. It entails placing a device in your car for a period of time to monitor your driving. In an ideal world, no one would have moving violations, but this is an option should you choose to “rewind”.
  8. Annual Auto Policy Term – Safeco offers a l2 month term now. Although it is the same premium as six month terms (twice the amount of six months), it locks in the premium for a year rather than a potential increase every six months. Not only that, but you can receive the pay in full discount by paying for six months then billed later in the year for the second six months. If you wish to change to the annual term, just let us know and we’ll set it up to begin at your next renewal.
  9. Billing:
    • Monthly fee – if you are on a monthly pay plan then be aware of the monthly fees—they can add up! If you pay for both your homeowner’s and auto and each have their own billing accounts with the same company, ask to have them combined into one billing account. This cuts your fees in half which over time is significant.
    • Late fees – Safeco now charges $15 if a payment is late. Most other companies charge $5-$10 for late payment. By calling our office immediately if you have an overdue payment, we can apply an electronic payment if you provide your credit card or bank account information. This may expedite the process enough to avoid the fee. If not, we can discuss other payment options for future payments in order to avoid unnecessary fees.
    • Pay in Full – Companies offer a discount for this option and there are no monthly service fees. If possible to pay in full, it is the most economical choice.
    • EFT – Electronic Funds Transfer is a good choice for many clients. Remember to call us if your credit card changes (new expiration date or new card) or if your bank account changes. If we aren’t notified, the payment will not take and it can cause late fees, cancellations, and easily avoidable inconveniences.

As your local insurance agency, we are your advocate – we are here for you and a phone call in to discuss your particular needs or any life changes will help us to help you. We are dedicated to providing you with excellent service.

Communication with us at any time can give us potential opportunities for saving you money—whether you require greater protection or lesser premium, we will work to the best of our ability for you.