Paid-in-Full Insurance Discount in Georgia

If you think you pay too much for your car insurance, you are not alone. Smart shoppers are constantly on the lookout for ways to save money, especially on items that are necessary. You’ve probably heard of car insurance discounts. It’s a good way to knock a few dollars off your premium – every little bit helps. A paid-in-full discount saves the insurer some money in a couple of ways, including:

• Decreasing administrative costs since they don’t need to send a bill out each month or a reminder email.
• The knowledge that a paid-in-full customer is not likely to switch to another company.

The savings in admin costs, as well as the show of loyalty, are worth offering a break to customers who pay upfront.

Some discounts are worth more than others. Insurers use percentages to grade how much they are worth. A paid-in-full is typically worth around 9-10% off your premium. That can go up or down, depending on the insurer, as well as your standing with them. For example, if your 6-month premium is around $1,000, you could shave $90 off — that’s worth a really nice date night or some other fun event.

Some agencies only allow customers to apply up to 25-30% off with qualifying discounts. That’s why it’s important to understand which ones are available, which ones you qualify for and how much they are worth.

In effect, you are just doing in advance what you would be doing anyway. Instead of the hassle of another monthly bill to pay, you simply pay your 6-month or 12-month premium in one payment upfront. This not only eliminates monthly accounting hassles, but it also guarantees you won’t miss a payment and jeopardize your status as an insured motorist.

When you purchase your insurance, discuss the discounts you may be eligible for with your agent. Remember, you may be limited to a total of 25-30% off, so ask your agent to help you decide which ones are best. If you can pay your premium upfront and add a few more car insurance discounts, you may reduce your bill by quite a bit. When your circumstances change, it’s also a good idea to let your agent know. You may qualify for some new discounts!