Most people are interested in saving money. This is especially true when it comes to reoccurring expenses such as auto insurance. If you want lower your car insurance quotes, it is important to know about the different types of discounts you might be eligible for. Even if you do not currently meet the requirements for a particular discount, in many cases you can still work to achieve this discount in the future.
Types of Discounts you could qualify for
Safe driver discounts – this might be obvious, but being a safe driver can significantly lower your insurance premium. This includes not getting into an accident or having traffic violations, but it also includes safe practices such as wearing a seat belt, and not having many insurance claims.
Student driver discounts – these discounts reward young drivers for maintaining good grades. The specific grades needed depend on the insurance company, but it typically applies to students maintaining a B average or higher.
Defensive driving or other driver’s education classes – if you take some type of driver’s education course, you can qualify for a discount on your insurance. Not all companies offer this discount, and not all classes are eligible, so it’s important to discuss this with your insurance agency beforehand.
Safety and security discounts – having the latest safety and security features installed in your vehicle can earn you a discount. Many of these devices will come factory installed, but you can always look into adding them later if not.
Multi-policy or loyalty discounts – this discount applies if you stay with the same insurance company year after year, or if you have multiple policies (medical, life, home) with the same company. Similarly, adding multiple vehicles to your policy can save you money over having individual policies for each.
Organizational discounts – sometimes where you work or attend school can earn you a discount. Look into any organization you belong to, including school clubs, to see if you qualify. Military service members often qualify for this discount.
Low-risk discounts – having “low-risk” qualities will enable you to lower your car insurance quotes. Being a homeowner, having good credit, and being married are all low-risk qualities that calculate into a lower premium.
Not all insurance companies offer every type of discount. The type of discounts allowed will vary based on state laws and your insurance agency’s guidelines. Also, the criteria needed to obtain a certain discount, and the amount saved, will vary across companies. Make sure to read your policy and all its fine print in order to understand what type of discounts you are getting.
Sometimes a discount will only apply to a certain type of coverage and not the entire policy. Look at each individual component of your car insurance quote to make sure all discounts are accounted for. Sometimes an insurance company will have a total discount limit, so even if you technically qualify for more discounts, you will not get them all.
Although many companies list their discounts on their website and include them to lower your car insurance quotes, sometimes it is helpful to call the agency directly to make sure you are maximizing your savings.Read More