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Save Money on Group Auto Insurance


One of the best ways to save on auto insurance is to get it from your company or from the organization that you are involved in – that is, if they offer it as privilege. You can save from it because group auto insurance usually costs lesser than the individual policy.

How To Get It

The company you are working with or an organization where you are a member may offer privileges to its employees/members. One of the privileges that they could offer is auto insurance. This is especially suitable if the members of that group have cars. For instance, a Volkswagen club may get group auto insurance for its members. Or it could be that a Pharmaceutical company, whose sales agents have cars, offers auto insurance to the sales agents by getting a group plan.

Requirements for group auto insurance differ from one provider to another. There are providers who offer the plan to an organization with 300 members or they could offer it to companies with at least 50 employees. The thing about group insurance is that it provides discounted rate to group members. However, it does not mean that their individual needs or personal insurance qualifications are not taken into account. Providers have certain requirements for the members to get the discounted rates. Other providers even have various discounted opportunities in their group plans.

Premium Payment

The company or organization has two options to pay for group auto insurance. It could be that:

  1. The organization will participate in paying the premium at preferred percentage. For instance, the share of the organization could be 30% while the employee/member will pay 70% of the premium. This case happens with big companies or self-sustaining organizations.
  2. The members of the group will pay all the premiums. The advantage they have is that since it is a group insurance, they have discounted rate compared when they buy the policy personally.

Organization usually offers such privilege to its members for their own benefits. As a company, the offered privilege to the employees is a means of being competitive employer in the respective industry. It makes the employees feel secured and cared for when they work with such responsible company.

This holds true for organizations to its members. A group insurance could be an offered privilege to its members which encourages them to stay as members. Likewise, it could also be a way to entice more new members.