When applying for car insurance coverage, most insurance companies ask if you own or rent your home. This is not a random question but a measure of stability. Homeowners tend to be more financially responsible, and risk analysts for insurance companies predict fewer insurance claims with those who own their homes than with drivers who rent.
Prove your homeowner status
While some insurance companies may take your word for meeting homeowner discount requirements, most providers require proof of home ownership before applying savings to your policy. Fortunately, there are several means of establishing eligibility for homeowner discounts, and you should have the paperwork to do so handy.
You could provide a copy of the deed to your home, but owners tend to keep that document in a safety deposit box or another more difficult to access location. Alternatively, most car insurance companies accept a copy of your homeowner’s insurance policy, property tax statement, or even a copy of your mortgage coupon. To make establishing eligibility for a homeowner’s discount even easier, many of the documents can be accessed and sent online.
Save with multiple policies
Another way to achieve cheap car insurance as a homeowner is to take advantage of discounts associated with having multiple policies through a single insurance company. Naturally, this will only work if your insurance company offers both car and home insurance policies. If you go this route, you also don’t have to prove your home ownership, since you are already on file as a homeowner.
Do not assume that a multiple policy discount will automatically be applied when asking for a quote to add car insurance to your bundle. Get in touch with a live representative via phone, chat, or in person, and pointedly ask if a discount is available and to have it applied to your insurance quote. You have nothing to lose by asking and have the potential to save a bundle in the long run.
To get cheap car insurance often requires a little leg work, and it is always advisable to comparison shop. Unfortunately, many people do not have the time to invest in checking with multiple insurance providers and remembering to ask about all the available discounts for which you may be eligible. If you belong to this busy cross-section of the population, consider enlisting help in shopping for the best car insurance value.