What would you do for a car insurance discount?
(MoneyWatch) How far would you go to get a discount on your auto insurance? With premiums that cost the average consumer about $1,600 annually, it appears there isn't much some consumers wouldn't do to cut their rates, according to a survey of 500 drivers done by CarInsurance.com.
Specifically:
64 percent would allow the insurer to install a breathalyzer.
39 percent would allow them to install a data-monitoring device.
37 percent would allow the insurer to disable their cell phone while in the car.
28 percent would let the insurer restrict their speed.
27 percent would let the insurer severely limit how far they could drive.
24 percent would allow the insurer to decide what hours they could drive.
20 percent would allow the insurer to install a camera to observe them while they drove.
Of course, while some insurers will give you a discount for allowing them to plug a data-monitoring device into your vehicle, most of these discounts don't exist, according to CarInsurance.com. There are, however, plenty of discounts that you can get for simple activities like sticking with the same insurer for several years, or buying both a home and auto policy from the same company.
But discounts may not be the main factor in getting a better rate. Factors like keeping a good credit score and getting married are likely to cut your auto insurance costs far more dramatically. If you're among the many who are apparently willing to go to great lengths to cut your auto insurance rates, even if it means getting married... well, Mazel tov.
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How?
drop collision coverage.
Why do you need collision coverage? Well, if you don't own the car, then you have to have this so that the bank doesn't lose their investments in owning your cars. But if you own your cars outright, then you don't need all that insurance! All you gotta do is cover the damage you may do to other people's cars...What if they hit you? Well, then *THEIR* insurance will pay for that. What if you hit someone else and damage your car in the process? Well, you shouldn't have hit that other car now, should you!
I don't see why that is so difficult really!