Understanding Insurance Policies
3 Ways Having A Baby Can Save You Money On Auto Insurance
Samantha Reynolds
As a new parent, you may be overwhelmed by the sudden increase in monthly costs. From diapers to formula to child care, raising children sure isn't cheap. But, did you know that having a baby can actually help to decrease your monthly auto insurance costs? Check out three of the most common ways below in which having a baby can save you hundreds.
You Can Receive Discounts for Purchasing a Vehicle with Additional Safety Features
If you're in the market for a new vehicle in which you can safely transfer your new bundle of joy, you're likely considering a number of top safety rated options. This is fantastic for your family's safety (as well as your family's budget)!
One safety feature which is quickly becoming standard in SUVs and minivans is blind spot detection and lane departure systems. Both of these safety features were created with accidents in mind and can go a long way in preventing collisions and keeping you—and other drivers—safe. How can you know if your insurance company offers discounts for safety features? With a call in to your auto insurance agent, you could learn more about this special discount offer and be on your way to saving hundreds every year.
Your "Downgrade" Can Save You Hundreds Every Year
Unfortunately, with the addition of a new family member, that two-seater sports car just won't cut it anymore. And, while you may think of the switch to an SUV or sedan as a downgrade, you could be pocketing hundreds of dollars in savings!
There's a number of reasons why family-friendly cars tend to cost less to insure. As mentioned above, additional safety features are certainly a plus, but other reasons, such as an increased size and weight, can also contribute to a lower insurance premium. And, for those drivers who're going from a newer model sports car to an older model SUV in order to save some money on monthly car payments, you could also save some green on insurance premiums as many newer model cars cost more to insure than cars that are a few model years younger.
You Can Bundle Your Car Insurance Policy With Other Policies to Save
No matter your insurance needs, bundling can save you money.
Having a baby brings a lot of changes. And, while some of these changes may seem costly, one way to offset some costs is to work with your insurance agent to bundle your auto, home, and life policies. So, whether you plan to expand your space and will be in need of a home insurance policy or you'd like to work with your current insurance agency to open up a life insurance policy, it's always a good idea to ask about bundling discounts and learn about other policy discount offers available for someone in your particular life situation.
To learn more about how you can save on your monthly insurance premiums, consult with professionals like those found at Mid-Alliance Insurance Associates LLC.
Share
After I moved out of my parent's home, I started learning more and more about insurance policies. I was involved in a bad car accident, and I ended up working with my car insurance company as well as my medical and dental insurance companies. I paid my premiums and enjoyed coverage, but I didn't really understand how the entire insurance claim process worked. I wanted to make this blog to help other people like me to learn more about insurance coverage. Check out this blog for more details on insurance coverage, how to file a claim, and what you should expect throughout the shopping process.