06/30/2020
The Top 10 Auto Insurance Discounts You May Not Know About!
There are many extra expenses when it comes to owning a vehicle. Gas prices, maintenance and repair costs can put a major dent in the owner's wallet. In addition to this, insurance is an added expense but a necessary one that is required by law. There are several ways to save with auto coverage, so those who have not reviewed their policies in a while may be pleasantly surprised to find there are more ways to save. In recent years, the competitive insurance market has led to more providers offering various new discounts.
With some companies, discounts may be outlined on the site clearly. However, some insurance companies may not put their information out on the main landing page about discounts, so it is necessary to inquire.
Potential Discounts Offered by Top Insurers
1. Good Student is offered to young drivers who maintain good GPAs’ typically a 3.0 or higher. Many insurers also offer the same discounts for individuals under 25 who have graduated with an associates or higher degree.
2. Multi Policy Discounts which are discounts for bundling other types of policies such as home insurance or life insurance with auto coverage.
3. Multi-vehicle discounts are available to people who insure more than one automobile.
4. Safe driving discounts are offered to people who maintain a good driving record and avoid causing accidents.
5. Paid-in-full or automatic withdrawal payments and paperless billing choices may come with discounts.
6. Low mileage discounts are offered when drivers keep their mileage below a certain point.
7. Distant students’ discounts are available for younger drivers who are going to school a long distance from home.
8. Defensive driving discounts may be available to people who take approved defensive driving courses. AARP offers a smart driver course that suffices both the state requirements and meets insurance standards.
9. Early signing discounts may be available if a person switches to a new provider and starts shopping a specific number of days prior to an existing policy ending.
10. Insurance company specific discounts, such as youthful operator driving programs, Telematics discounts (driver tracking devices and apps), or having an affiliation with a specific organization.
There are other discounts that your insurer may offer to policyholders, give them a call to ask what discounts you might qualify for, but keep in mind what is the most important is the final cost of your policy. A company that offers few discounts may still be able to give you a lower overall premium price. Any time is a great time to inquire!