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Typical
Property Insurance Discounts - These
are typical discount rates, but they are only estimates, and
discount rates and eligibility will vary from Insurance company
to Insurance Company, or may be non-existant.
| Insurance
Discount |
Type of Dwelling |
Eligibility |
Discount Savings* |
| Protective Device |
House Condo Renter |
Your home has smoke alarms, fire
extinguishers, deadbolts on all exterior doors, and
central burglar and fire alarms. |
Save up to 15% depending on the combination
of installed protective devices. |
| Fire Resistive |
House |
Your home is fire resistive or is
made of fireproof construction such as brick and masonry. |
Save up to 15% depending on the materials. |
| New/ Renovated Home |
House |
Your house is less than 10 years
old or was completely renovated by a licensed contractor
within the last 10 years. |
Save up to 25% depending on the age
of the house. |
| Our
Indemnity Renewal Claim Free Discount |
House |
You'll receive a discount based on
the most recent consecutive number of years you've been
claim free in Our Indemnity Company from 1 to 5 years. |
Save up to 7% per year to a maximum
35% for five consecutive claim free years. |
| 55 or Older and Retired |
House Condo Renter |
You're 55 or older, retired and it's
your principle residence. |
10-25% depending on the type of home. |
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Typical
Automobile Insurance Discounts - These
are typical discount rates, but they are only estimates, and
discount rates and eligibility will vary from Insurance company
to Insurance Company, or may be non-existant.
- Anti-Theft Devices and Signal-Activated
Recovery Systems: up to 35% off comprehensive coverage for
autos with anti-theft devices or signal-activated recovery
systems; check with agent for list.
- Senior Citizen: 25% off entire premium
if principle operator is 65 yrs. or older. No inexperienced
drivers on policy; business cars generally ineligible.
- Passive Restraint: 25% off all bodily injury
coverages for autos equipped with airbags or automatic seat
belts.
- Public Transit: 10% off property damage
and collision coverage for those commuting on public transportation;
generally must present 11 months of commuter passes; May
have maximum discount.
- Driver’s Ed Training: 10% off bodily injury,
property, and collision for the first 3 years for inexperienced
drivers completing approved training course.
- Low Mileage: 10% off all coverages for
mileage less than 5,000/year except comprehensive, substitute
transportation, towing and labor; 5% for mileage up to 7,500/year;
antique cars are generally ineligible.
- Multi-vehicle: 5% off collision or limited
collision for individuals or married couples having more
than one car insured with same company; experienced drivers
only; business and antique cars are generally ineligible.
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Tips
on how to save money when buying Life Insurance- remember
that policies vary by Insurance Company so these tips do not
always apply.
How
can I conserve costs? (from www.metlife.com)
Here are
some ways you can save money when purchasing the life insurance
that's right for you.
- Don't
buy insurance if you don't need it, and don't buy more insurance
than you actually need to provide for your loved ones.
- Shop
for a competitively-priced policy while you are in good
health. Don't smoke. Take care of yourself by exercising
regularly and maintaining a moderate weight.
- If
you buy term insurance, look for guaranteed renewable policies.
That way you won't have to shop for a new policy (with higher
premiums) when you're older.
- Buy
additional riders, which are optional forms of coverage,
only if you need them.
- Shop
around and compare prices and coverage. There are over 2,000
companies selling life insurance policies. Get at least
three quotes on comparable policies, and ask questions about
the policy's renewal and withdrawal provisions.
- Participate
in your employer's sponsored life insurance program, even
if you have to contribute or pay for it. This form
of life insurance coverage, known as group insurance, pools
good, average and poor risks to offer a benefit that can
be less expensive than comparable plans offered outside
of work. You may be able to obtain coverage up to a certain
level without providing evidence of good health, a key advantage.
Additionally, group insurance plans often provide for
continued coverage during periods of disability. Many plans
are administered through payroll deduction, a very convenient
way to pay for coverage. And finally, many plans allow
you to continue your coverage even after you leave employment
by continuing payment of premiums or converting coverage
to an individual policy.
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