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Car Insurance Discounts

Auto insurance is a necessity for today’s drivers, but it can cost a small fortune. You understandably are looking for thoughtful and realistic ways to reduce this expense and to save money on a monthly basis. Shopping around is a smart idea when you want to find the most affordable premium possible, but you also can take other thoughtful steps to save even more money. As you shop around, look for some of these common auto insurance discounts that may apply to you.

A Bundled Policies Discount

Some insurance providers only offer auto insurance, but many also offer home or renter’s insurance, life insurance and other similar products. These providers commonly offer a discount if you purchase multiple insurance products from them. In some cases, the more products that you purchase, the higher your discount may be. This discount may apply only to your auto insurance premium, or it may apply to all types of insurance that you purchase from them.

A Discount for Insuring Multiple Vehicles

A multiple vehicles discount is very similar to a bundled policies discount, but this discount only applies to drivers who insure more than one vehicle on the same policy. This may even include a motorcycle or an RV in some cases. The value of this discount can be significant with some providers. If you plan to insure multiple vehicles, consider looking for a provider that offers this type of discount.

Membership and Affiliation Discounts

Many people are affiliated with certain organizations, such as a credit union. They may also be a member of a club, an organization, an industry-related association or another entity. You can learn about possible discounts available by contacting these organizations and associations directly. You can also canvas the insurance providers to determine if any of your affiliations or memberships qualify you for a discount.

A Discount for Driver’s Education

Your auto insurance provider understandably wants you to be a safe driver, and many encourage you to continue your education about defensive driving and more through periodic courses. If your auto insurance provider offers a discount for defensive driving courses, you could potentially save five to 10 percent off of your premium. This benefit may extend for the next 12 months, and you can always take another class when the discount period expires.

A Discount for Your Vehicle’s Safety Features

When buying your next vehicle or when you are updating it with after-market features, be aware that some safety and security features can potentially qualify you for an auto insurance discount. For example, a remote alarm system, high-tech safety features and more can qualify you for a discount. This type of discount may extend throughout the entire time that you own your vehicle.

A Student Discount

Many auto insurance companies offer some type of premium discount for drivers who are enrolled in a college or university. This may apply only to students who can prove that they are receiving good grades, or it may only apply to students who are enrolled on a full-time basis. The providers who offer a student discount typically have varying requirements. If you are a student, consider paying close attention to each provider’s requirements for this discount.

A Safe Driver Discount

There are various ways that auto insurance companies provide drivers with a good driving record better rates than they offer other drivers. For example, some simply work in the savings in the rates that they provide, and others offer a special safe driver discount. This discount may be available if you have no violations or accidents within the last year or two, but there is variance in the requirements. Because of how variable the requirements are for this discount and because of how valuable it can be through select providers, shopping around is a great way to identify the provider that may offer the best rates for safe drivers.

An Infrequent Driver Discount

Many people now work from home or do not work at all. These individuals may drive substantially fewer miles than those who spend a lengthy amount of time commuting back and forth to work each day. When you drive less, you are less likely to get in an accident. Auto insurance companies recognize that you are less risky to insure if you drive less. Some offer lower rates for infrequent drivers, and others offer a low-mileage discount. If you travel low miles in comparison to other drivers, it makes sense to keep your eyes open for a provider that offers this type of discount.

Military Service Discounts

A military service discount is common, and this type of discount may also extend to firefighters, law enforcement professionals and others who serve in some capacity. The qualifications vary, and the amount of discount available can fluctuate. If you are in the military or serve in some other capacity, look for this discount to save a bundle on auto insurance.

An Automated or Advance Payment Discount

It costs auto insurance companies money to bill you each month and to track monthly payments. It also costs them money to accept credit card payments. Many providers will pass along the savings that they have from your automated or advance payments in the form of a discount on your premium. This is usually a relatively small discount in comparison to some of the other discounts available, but the combination of all discounts that you qualify for could be substantial.

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