This is BTJ Insurance Incorporated. I’m Bobby Thomas, Jr. And so I got a question the other day from Google, “Are insurance rates, or namely auto insurance rates, negotiable?” Well, the answer is no. The rates are not negotiable. But when I thought about that question, there are tons of ways to maybe improve your rate, and here’s a couple. In this COVID-19 environment so many people are not driving or we’re driving less, or we’re working from home. So if we’re working from home, that means our commutes are different. Well, a lot of the companies now have devices that you could put in your car that monitor how often you drive, if you accelerate hard, if you slam on brakes, and things of that nature. But miles driven is a component of that. So just participating, a lot of times you can get 10% off just for actually trying it. 10% or 15%, actually.
And then based on how you perform or based on the fact that your car is sitting there, that discount is improved and then you’ll see some significant savings. I’ll tell you what too, if you have teen aged drivers, it’s a great tool, because they send you a report each week that says, “Hey, this is how they drove, and here’s how many events they had,” and things of that nature. It’s a very great learning tool to help increase safety for the kids. But back to the negotiating the auto rate. You can’t do that. But another piece is now you have pay as you go rates with some of the companies, meaning you say, “This is how often I drive and how much I drive,” and the company will give you a discounted rate initially and then allow you to pay a different amount based on how much you drove in a particular month. And most of the companies have a cap on how many miles.
So if you go on a big family trip, you ain’t got to worry about, “Oh, this trip is going to cost me a lot of money.” In fact, it’ll cap at a certain amount. It’s called a Trip Cap Limit. So tons of little ideas like that. Obviously, not obviously to some, the more products you have with an insurance company, for instance, if you have car insurance and you add renter’s insurance, because you rent, your car insurance will be discounted because you have renter’s insurance, and your renter’s insurance will be discounted because you have car insurance. Or if you add life insurance with renter’s insurance, now you’ve got life insurance, renter’s insurance, car insurance, all will get you a bigger discount. So bundle and save. Homeowner’s insurance and car insurance, boat insurance, motorcycle insurance. So the more you have with a company, the better your rates will be. So hope this helps.
Call BTJ Insurance in Nashville TN at (615) 953-9385