Don’t miss out on these auto insurance discounts

There is seemingly no end in sight with regard to the rising costs of owning an automobile. From the cost of the car or truck itself to the high prices of fuel, student drivers increasingly are often looking for ways to curtail the costs of owning an automobile. One way to save some cash is to take advantage of auto insurance discounts you may be eligible for.

Auto insurance company fulfillment is at record high. However, many discounts may still be available, even if drivers or their agents may overlook them. Fierce competition among insurance providers continually adds to the bevy of new discounts many are willing to offer to woo new customers.

According to Bankrate.com, many companies now offer new discounts to remain competitive. If you haven’t shopped around for auto insurance recently or have not revisited your current policy, you may be missing out on substantial savings.

Daytime running lights: Four out of the 10 largest auto insurance companies now offer discounts if your vehicle has daytime running lights.

Low mileage: Don’t take the car out often? Such habits may earn you a reward. Around 80 percent of the major insurance companies offer discounts for low mileage. The insurance company may provide a mileage-tracking device that will report back the actual miles driven to the company.

Grades: Check with your insurance company if you are a student and are on the car insurance policy. Good grades may qualify you for a discount.

Occupation: Your occupation also may entitle you to a discount on insurance. Insurance companies believe that people in certain occupations or those who spend a lot of time on the road may be less likely to take risks. Find out if your occupation qualifies.

Alumni associations and clubs: Certain organizations have teamed with insurance providers to offer discounts to members. Therefore, if you are in a fraternal group at Grand Valley State University, a credit union, an alumni association or some other organization, you may eligible for certain discounts. Check with your insurance company for their affiliate groups, or contact the organization to which you belong for more information.

Multiple policies: Many insurance companies will offer a discount if you group your policies together into a bundle. Having homeowner insurance, auto insurance and life insurance through one company, for example, can earn you a substantial discount.

Insurance companies have many other discounts available if you ask. For example, if your vehicle has an antitheft system or environmentally friendly components, you may be eligible for a discount. Customer loyalty, paperless billing, paying all your bill at once, being a current or former member of the military or if your vehicle is a new model year also may make you eligible for discounts that can drastically reduce the cost of your policy.

Simple ways to trim auto insurance costs

The cost of owning an automobile extends beyond maintenance and fueling costs. One of the biggest expenses motorists must plan for is auto insurance, the cost of which can vary greatly depending on geography and driver history. Auto insurance is a necessity for drivers no matter their age, location or backgrounds, but there are several ways to cut the costs of monthly insurance premiums without affecting coverage.

1. Reassess your driving habits. Auto insurance companies consider how many miles drivers drive per year when determining the cost of an insurance policy. Many drivers provide this information when opening a policy, but then never update it when renewing or extending their policies. If you drive less now than you did when you opened your policy, notify your insurance company and you might end up paying less each month, especially if your daily commute to school or work is considerably shorter than it used to be.

2. Check your credit rating. Another way to save money on your auto insurance is to check your credit rating and, if necessary, take steps to improve your credit score. Credit rating is another variable insurance companies use to determine drivers’ premiums, and a good credit rating can save drivers a substantial amount of money on their policies. If your credit rating has improved since you opened your policy, contact your insurance company and you might see the cost of your insurance reduced dramatically. It’s also good to periodically view your credit report to determine if there are any errors that are negatively affecting your rating. Such errors may be inflating your auto insurance premiums.

3. Hit the books. No matter how many years you have behind the wheel, your auto insurance company may offer you discounts if you periodically take defensive driving courses. Such classes are inexpensive, but they may save you as much as 10 percent on the cost of your auto insurance policy. Young, inexperienced drivers tend to benefit from defensive driving courses more than other drivers.

4. Change your policy. Drivers also can save money by making changes to their policies. Raising your deductible is perhaps the easiest way to save money without affecting your coverage, and such a decision can save you as much as 15 percent depending on how high a deductible you’re willing to pay. Drivers whose cars are older and completely paid off might want to drop their collision insurance, which pays if the car is damaged or destroyed in an accident. Such insurance won’t yield much in return if your car is not worth much money, and dropping it from your policy can save you between 10 and 15 percent.

How to save on your cable bill

As the cost of cable and satellite television continues to rise, more and more consumers are cutting the cord with such pay television services. A 2014 study from Experian Marketing Services found that the number of households that no longer subscribe to cable or satellite television service has increased by 44 percent since 2010. Much of that can be traced to streaming services such as Netflix and Hulu Plus, both of which provide a host of content at a fraction of the cost of traditional cable and satellite providers.

As much as the revolution against cable and satellite television providers is gaining steam, many consumers are still finding it difficult to entirely abandon this traditional way to enjoy their favorite content. However, many college students who count themselves among the masses who can’t quite cut the cord with cable or satellite are looking for ways to reduce the costs of these increasingly costly luxuries. The following are a handful of ways to do just that.

• Negotiate. Recognizing the threat that popular streaming services pose to their bottom lines, many traditional content providers no longer mandate that new customers sign contracts that lock them in at given rates for predetermined periods of time. That concession gives cable and satellite customers more room to negotiate, which they should do as often as possible. Contact your service provider whenever promotional deals expire and negotiate for that deal to continue or inquire about better deals. Contrary to popular belief, cable and satellite companies will negotiate with their customers in an effort to help them find better rates. Don’t wait for the company to initiate such negotiations.
• Assess your needs. If a large chunk of your cable or satellite bill is going to pay for premium channels, reassess your viewing habits to determine if you really need these costly channels. Thanks to streaming services, many television viewers now prefer to binge watch their favorite programs. If you fall into that category, stop paying for premium channels and patiently wait for your favorite shows to be made available on DVD or online.
• Stay calm. Cable and satellite providers do not have the most stellar reputations with regard to customer service, so it’s common for dissatisfied customers to enter discussions with their providers with a chip on their shoulder. When calling your provider, remain calm and rather than threatening to cancel your subscription explain that you want to stay but need to reduce your monthly bill. Such an approach is more likely to meet with positive results than one that is aggressive and antagonistic.

Simple ways to increase energy efficiency and savings

Fall and winter can be tough on Grand Valley State University students’ living spaces and their wallets. As temperatures drop, chances are the furnace will be working overtime. This results in two things – greater energy consumption and higher heating bills. Costs associated with heating and cooling a home year-round typically comprise two-thirds of the average energy bill. As temperatures decrease during the fall and winter months, energy usage and costs tend to climb.

Try these easy DIY projects to help cut down on energy loss and expenses:

1. Replace worn weather-stripping around doors and windows. Worn weather-stripping can create drafts and let heated air out, stressing your furnace and compromising your comfort. Replacing it takes little time and is a low-cost, high-impact solution. Students who live on campus can submit a work order to GVSU facilities services if they notice these getting worn out.

2. Caulk around windows and doors. Cracks and crevices are a source of heat loss. They can also be an entry point for water/moisture, as well as for unwelcome insects. Preventative maintenance can improve energy efficiency and prevent costly repairs. Weather-stripping or caulking will seal these problem areas and keep your home warmer, without having to turn up the heat.

3. Change the furnace filter. For students who live off campus, make it a point to check your furnace filter monthly, always changing it when it’s dirty. This will improve the performance and efficiency of your furnace, saving you money.

4. Adjust the thermostat. Lower the heat on your thermostat while you are away from your apartment or dorm and before you go to bed. If your thermostat is programmable, take advantage of that so you don’t have to worry while you’re gone.

5. Make use of natural sources of heat. Pull back your curtains to let natural light in. The sun can help to warm a room with its rays on a bright fall or winter day. If there are any large windows in your residence that don’t receive much sunlight, keep the curtains closed to form a barrier from the cold.

6. Take advantage of ceiling fans. In the winter, set the fan to rotate clockwise. The blades will pull the air up and around, redirecting warm air that rises back down into the living space. The effect can help you lower your thermostat by two degrees in the winter. While cutting back on energy may seem more challenging as the weather gets colder, it doesn’t have to be. There are many no- or low-cost methods to conserve energy that can provide consistent savings over time.