LOS ANGELES, CA / ACCESSWIRE / October 13, 2020 / Compare-autoinsurance.org ( https://compare-autoinsurance.org ) has launched a new blog post that presents the most common car insurance discounts that are provided by car insurance companies.

For more info and free car insurance quotes, visit https://compare-autoinsurance.org/what-car-insurance-discounts-can-you-obtain-from-the-insurance-company

Car insurance is a frustrating but necessary factor in car ownership. Obtaining the best policy possible is not that easy and many drivers are likely to run into some common issues and questions about the process. Luckily, there are many discounts offered across the car insurance industry to make insurance policies more affordable.

Drivers who are shopping around for a new car insurance company and policy should check if the following discounts are offered and if they meet the eligibility requirements:

  • Loyalty discount. To get a loyalty discount, drivers should ask their insurers whether a discount is offered, how long they will need to be a customer to be eligible, and any other terms that might apply. Insurance companies apply the discount after a predetermined period of time, and some companies will increase the discount the longer the drivers remain a customer.
  • Good student discounts. High school and college students are often eligible for discounts. Insurers offer this discount to students with good grades because they believe that a good student is likely to be a more responsible driver than a mediocre or poor student.
  • Bundling or multipolicy discounts. Most insurance providers offer a discount for customers who purchase two or more policies together. Policyholders can bundle their car insurance policies with other policies such as homeowner’s insurance, boat insurance, or renter’s insurance.
  • Good driving discounts. Generally, there are two types of good driving discounts: those offered to drivers who maintain a clean driving record free of crashes and moving violations, and those offered to

For instance, Henrico County-based Elephant Insurance announced in August that it would offer a discounted rate to customers working from home. The company said policyholders and spouses working from home and driving less would be eligible to receive the new discount, depending on the number of days driven to work and the customer’s occupation.

“Some part of the work force will be working from home for a while, and as long as they work from home they deserve this consideration,” said Alberto Schiavon, Elephant’s CEO.

State Farm, the nation’s largest auto insurer, started reducing auto rates in every state in May because of changes in driving behavior.

The company said the national average for those rate reductions is 11%, saving customers a total of about $2.2 billion. Rate changes depend on a customer’s individual renewals.

State Farm said its rate reduction went in to effect on July 27 for new customers in Virginia, while existing customers will see the rate change on their renewal date.

The rate reductions in Virginia average about 9.6% and are expected to save the 1.2 million State Farm customers in the state a total of $84.3 million.

Many other major auto insurers also offered deals in the spring that have since expired.

For instance, Allstate, the nation’s fourth largest auto insurer, refunded 15% of its customers’ monthly premiums in April, May, and June. The company said the paybacks amounted to more than $1 billion.

Source Article

(Bloomberg) — China Evergrande Group shares fell after the embattled developer completed about 71% of its sales target in the two months through October, offering its steepest discount in history that could squeeze margins.

a tall building: The flags of China, right, and the Hong Kong Special Administrative Region (HKSAR), second right, are flown near the China Evergrande Centre, left, in Hong Kong, China, on Friday, Sept. 25, 2020. China Evergrande Group is facing a crisis of confidence among creditors who've lent the world's most indebted developer more than $120 billion.

© Bloomberg
The flags of China, right, and the Hong Kong Special Administrative Region (HKSAR), second right, are flown near the China Evergrande Centre, left, in Hong Kong, China, on Friday, Sept. 25, 2020. China Evergrande Group is facing a crisis of confidence among creditors who’ve lent the world’s most indebted developer more than $120 billion.

The shares fell as much as 2.7% after it said contracted sales were 142 billion yuan ($21 billion) between Sept. 1 and Oct. 8, according to an exchange filing Friday. It generated 173 billion yuan for the two months through October last year.


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The world’s most indebted developer is trying to cut debt by bolstering sales, offering steep discounts at 800 projects across the nation during the Golden Week holiday, traditionally a popular time for home-hunters to buy. With $120 billion in debt– of which at least $5.8 billion is due in the next two months — it is under pressure from investors and regulators to curb leverage.

”The latest strong sales performance, coupled with previous settlement with most of strategic investors for its listing restructuring and its upcoming two IPOs, should be largely to ease the concern about its default or liquidity risk,” said Raymond Cheng, a property analyst at CGS-CIMB Securities.

Read more about how Evergrande skirted its cash crunch

Evergrande is planning to conduct a secondary listing of its electric vehicle unit in China and spin off its services management unit.

Evergrande could sustain its price cuts throughout the year and squeeze gross margins to 24% compared with the consensus forecast of 27%, according to