Retirement & Financial Planning Report

To cut auto insurance costs, look into buying it from the same company that provides your homeowner’s insurance and/or other insurance. The more types of insurance policies you have with one company, the greater the discount for which you might qualify. Other potential discounts to check for:

* For your youngsters. If you have children who drive, they may be eligible for discounts if they have successfully completed a driver-training course. Many companies offer discounts if a student has good grades, too, or merely if a student is attending school away from home and unlikely to drive your cars very often.

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* For yourself and your spouse. Discounts may be available if you’re over age 50 (and less likely to have an accident) or if you drive relatively few miles (say, less than 7,500) a year.

Also, good-driver discounts may be offered if no drivers in your household have more than two violation points on their driving records. This type of discount may not be available if you have had a driving-while-intoxicated incident or a serious accident within the past seven years.

* For your accessories. You may qualify for a “safety device” discount for a vehicle with features such as dual air bags, automatic seat belts and anti-lock brakes. Similarly, discounts may apply for having anti-theft devices including alarms or active or passive disabling devices.