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Car insurance can be very expensive especially if you live in a state with minimal coverage requirements. Fortunately most insurance companies offer different discounts to their customers based on their behavior and driving habits. You cant control factors like age that can increase your car insurance premium but you can still get better insurance rates with these discount programs. Get a comprehensive guide on how to get discounts on car insurance.
Tips How To Get Discount On Car Insurance
Cheap car insurance is always great but discount car insurance isn’t always what it seems. Saves big for example! When you see ads offering discounts of up to 40% it does not mean that you will get 40% off your total auto insurance bill. Here are some tips for discounting your car insurance premium.
Be careful with stretching
You will usually see discounts up to a certain percentage. You may not receive this percentage. The higher discount can only be offered to certain categories of drivers.
Some car insurance discounts dont apply to your entire bill
For example seat belt discounts can only be used to cover medical payments or personal injury coverage as this type pays for passenger injuries. The anti-theft device discount can only be used for comprehensive coverage as this is coverage that pays for vehicle theft.
Some deductions are required by state law
You will receive state-mandated discounts from each insurance company. For example New York mandates three years with 10% discount of liability and collision coverage for drivers who take a defensive driving course and send a certificate of completion to the insurance company.
Discounts may be limited
You may be eligible for some discounts but insurance companies limit the percentage of the total discount. For example you could add a deductible of something like 75% to your car insurance (hello new espresso machine!) but the total might be limited to 20%.
Not all discounts are automatic
If youve been doing this for a few years ask them specifically. Your insurance company doesnt know if your car has an anti-theft device or if youre a good student driver. The best way to save money on discounts is to regularly ask your insurance agent to check available discounts.
Discounts vary by state
The discount listed on the insurance companys website may not be available in your state.
Driver Behavior Discount
Good student discount
Teens and young adult drivers typically have higher insurance rates but good students (and their parents) can unlock lower rates with good grades. Most of the auto insurance companies we reviewed offer discounts to full-time students and drivers who maintain good grades. Product definitions vary by insurer so contact your insurer to find out if you think this may apply to you or your policyholder.
Discounts for distance learning
If you have a student driver on your policy and they are away from school they may be eligible for discounts if their car remains at home. Generally the student must be enrolled full-time and be at least 100 miles from home but requirements and eligibility may vary by insurer.
Discounts Based On Vehicle
Safety equipment discounts
Vehicle safety features protect drivers and passengers potentially reducing risks for insurance companies. Not all companies offer discounts on safety gear like Geico. If your vehicle has common safety features such as airbags and anti-roll bars ask your insurance company about possible discounts.
Discount on anti-theft features
Similar to security features anti-theft devices reduce the risks associated with vehicle insurance. Not all insurance companies offer this type of discount but if your vehicle has an anti-theft system it is recommended that you contact your insurance company to see if you are eligible for the discount.
A new car discount is available
Some auto insurance companies offer discounts to customers who drive new cars. The definition of a new car varies by insurance company but if you drive a car that is less than three years old you may get a percentage of the premium.
How Do Car Insurance Discounts Work?
Each car insurance discount works differently. Each insurance provider offers special discounts and savings potential. Here are some things you should know about car insurance discounts
Discounts may be included: If you qualify for a discount on your auto insurance your provider may cover your savings by an amount or percentage. For example great student discounts can save you up to $500 on insurance premiums or save you up to 10%. Alternatively your insurance company may limit your total savings if you qualify for multiple discounts.
Not everyone will benefit from the maximum savings: In some cases discounts can help lower your rates but you may not get the maximum discount. your car for example. It has an anti-theft feature but no other safety features. You may only get a fraction of the discount on safe cars.
Discounts can vary based on various factors: Car insurance discounts can vary based on your car insurance companys state vehicle and your age. Be sure to ask about limitations and exclusions if youre looking for providers with good discounts.
Discounts do not guarantee the lowest rate: Just because some auto insurance discounts do not mean that you are paying the lowest rate. You can get multiple auto insurance quotes from different companies and compare the same coverage to see which company offers the best rate and then use the eligible discounts to get lower rates.
