Annual Mileage Discount
Are you looking for an effective way to save money on car insurance? One option that often gets overlooked is the annual mileage discount. Being aware of this discount, and how to qualify for it, can lead to substantial savings on your car insurance premium.
What Is an Annual Mileage Discount?
An annual mileage discount is a discount offered by some car insurance companies to customers who drive less than a certain number of miles per year. The amount of the discount varies from company to company, but it can be as much as 10%-15% of your premium. This is a great way to save money on car insurance.
Who Qualifies for an Annual Mileage Discount?
In order to qualify for an annual mileage discount, you will need to agree to a limit on the number of miles you can drive each year. This limit is typically between 7,500 and 15,000 miles per year. If you drive more than this, the discount will not be applied to your premium.
How to Qualify for an Annual Mileage Discount
In order to qualify for an annual mileage discount, you will need to provide your car insurance company with proof that you have not exceeded the agreed upon mileage limit. This may involve having your car inspected by a mechanic, or having your odometer checked by the insurance company. Additionally, some car insurance companies may require you to install a device in your car that monitors your mileage.
What Are the Benefits of an Annual Mileage Discount?
The benefits of an annual mileage discount are obvious – you can save a significant amount of money on your car insurance premium. Additionally, the discount may encourage you to drive less, which can help reduce your overall fuel costs. Finally, if you drive less, you are also likely to reduce your risk of being involved in an accident.
Are There Downsides to an Annual Mileage Discount?
The only downside to an annual mileage discount is that if you exceed the agreed upon mileage limit, you may not be eligible for the discount. Additionally, some car insurance companies may charge an additional fee for the installation of the device that monitors your mileage.
How to Find Out If You Qualify for an Annual Mileage Discount
The best way to find out if you qualify for an annual mileage discount is to contact your car insurance company and inquire about their policies. They will be able to provide you with more information about the discount, and whether or not you qualify. Additionally, it is important to compare rates from different car insurance companies – some may offer more generous discounts than others.
Conclusion: Get an Annual Mileage Discount and Save Money on Car Insurance
If you are looking for a way to save money on car insurance, consider an annual mileage discount. Not only can this discount lead to substantial savings on your premium, but it may also encourage you to drive less, which can help reduce your overall fuel costs and risk of an accident. Be sure to contact your car insurance company to find out if you qualify for an annual mileage discount.