You may not realize it, but most car insurance companies offer many different kinds of discounts. Based on a range of qualifications, you may be eligible for several car insurance discounts that could lower your monthly premium. Listed below are nine car insurance discounts you may be eligible for. Though you won’t be able to take advantage of every discount, there are a few you can qualify for by simply taking a class or bundling your insurance.
- Vehicle safety – If your car includes safety features such as airbags, seatbelts, anti-lock brakes or theft protection then you may be able to lower your premium. Make a list of your car’s safety features and check with your insurance agent to ensure all applicable discounts have been applied.
- Good driver – This common car insurance discount is offered to drivers with excellent driving records. If you haven’t been in an accident during the past three years, contact your insurance company for a potential discount. Most insurers will review your driving record occasionally, but this discount may not be applied automatically.
- Bundled policy – In addition to car insurance, many companies offer homeowner’s, renter’s, life and other types of insurance. Covering your house, boat or apartment with the same company that protects your car is an easy way to qualify for a car insurance discount.
- Driver’s education course – These classes aren’t just for teenagers! Some companies offer a car insurance discount for completing a driving safety course. Most certified courses are accepted by your insurance company, so look for classes held in your area.
- Long-term policy holder – If you remain loyal to one car insurance company over time, this can lower your premium. The loyalty discount will typically be applied at designated intervals, such as 5 percent off after three years and 15 percent off after five years.
- Low mileage – If you’re the type who doesn’t drive often, you may qualify for the low-mileage car insurance discount. Drivers who are eligible for this program will have their odometers checked on a regular basis to gauge how far they drive each month. Some insurance companies have experimented with GPS devices that can measure driving distances, which in turn determine a driver’s potential discount.
- Policy pre-payment – Some insurance companies will offer a discount if you pay your annual policy premium in full up-front. If you can afford to do so, this discount is an easy way to save money.
- Good grades – Teenage car insurance policies are notoriously expensive because of the high risks associated with young drivers. Fortunately, insurance companies realize that responsible school performance can translate to responsible driving. If you need full coverage car insurance for your child, make sure to ask about discounts based on grade point average
- Associations – You may qualify for a car insurance discount for if you are a member of certain groups, clubs and associations. Ask your agent whether membership in groups such as teachers’ associations or the military qualifies you for a car insurance discount.