Policy perks for auto insurance
Can you get auto insurance policy perks with Huff Insurance?
YES you can. We know there is a national insurance company touting their policy perks on TV and radio on a daily basis.
Did you know that these same policy perks are available to you with most of our top rated insurance companies.
Perks for auto insurance policies can include:
Accident Forgiveness Perk
Accident forgiveness is a perk where your car insurance rates will not be increased at your renewal due to being charged with an accident.
The insurance companies we represent make this per available in two different ways:
- You can purchase this policy perk as part of an auto insurance enhancement endorsement. Most companies have an enhancement endorsement available on their car insurance policies that add one or more perks or additional coverages to the policy.
- The policy perk can be earned over a period of time. So if you go three years without having an accident with that company, they will add a first accident forgiveness perk to your auto insurance policy. Depending on the time period of being accident free, you could have a minor accident forgiveness or any accident forgiveness perk. For minor accident forgiveness, the insurance company sets a dollar threshold for the claim in order for it not to affect your rates at renewal. For example, a claim under $5,000 may be used by some companies.
Keep in mind that this accident forgiveness only applies to the insurance policy that you have with that company. If you decide to move your insurance, and the forgiven accident is within 3 or 5 years, it will be rated for with your new auto insurance company.
Some companies offer a claims free discount. You may not get charged directly for the accident on your renewal with your carrier. But you may lose the claims free discount that you have earned.
Insurance Bundle Discount Perk
This is a policy perk that can provide a great savings on your auto insurance policy. The most common bundle discount is the auto insurance policy bundled with a home insurance or renters insurance policy. Combining these two policies can save you up to 20% on your car insurance rates!
If you bundle more policies, the multi policy discount gets bigger. Other policies that you can bundle for the discount include: Umbrella insurance, Motorcycle Insurance, Boat Insurance, Dwelling Fire Insurance (for rental properties), etc.
New Car Replacement Perk
This policy perk is available to new cars that you may have on your policy. Most companies have an age limit on the age of the cars to be eligible for this perk. Usually 2 or 3 model years old. Therefore, if you buy this perk and your car is deemed a total loss due to a covered accident. Your insurance company will replace your car with an new car of the same make and model.
You can purchase this perk as an option on an auto insurance policy. Some companies include it on their enhancement endorsement packages.
Telematics Discount Perk
The telematics perk can provide a significant discount for your car insurance policy. Most of our companies offer an up front discount for just signing up for their telematics program. The up front discount can be 5% to 10%. Based on your diving habits, you can earn a discount on your next renewal of up to 50%! This is a great way for you to get a huge discount on your auto insurance for your safe driving habits.
Most companies now use a smartphone app for their telematics tracking. They make it simple for you to sign up and register for their program.
Here is our blog that goes into the details of how the telematics program works. This blog also contains a short video on the topic.
What is usage based auto insurance?
Safe Driver Discount Perk
Just like the telematics perk above, the safe driver discount, you earn this policy perk based on your safe driving habits. Most auto insurance companies offer a discount if you do not file a claim in the past 3 to 5 years. And some companies refer to this as their claims free discount.
Even if you have accident forgiveness, you can still lose this discount for having the accident.
Diminishing deductible perk
If you buy this perk, your comprehensive and collision deductibles can be decreased by an amount for each year that you go without having an accident. For example, you start your policy with a $1,000 collision deductible. Some companies will reduce your deductible by $100 for each year you go without a claim. Co if you stay with them for 4 years and have no claims, your collision deductible will go down by $400, to $600. If you have a collision claim in year 5, your deductible will be $600 for that claim and not $1000.
You can purchased this perk at the time of the policy inception. You can buy it by itself or as a part of a car insurance company’s coverage enhancement endorsement.
Claims Free Cash Back Perk
You can get money back from your insurance company for not having a claim. We have a couple of companies that will pay you back for safe driving. If you buy this perk, you will get a percentage of your premium back for every year that you do not have a claim.
Call Huff Insurance at 410-647-1111
We are a Maryland independent insurance agency here to help you with your insurance protection needs. We represent many insurance companies so we can find you the best policy with the best policy perks that fit your needs.
**Not all policy perks are available from all insurance companies. To see what perks are available to you, check with your specific auto insurance company.
