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Do You Qualify For Discounts On Your Car Insurance?

With many companies and policies to choose from, how do you make sure that you are getting the best coverage for the lowest rates in town? Your trusted insurance broker can help you compare the deals but it never hurts to educate yourself about the many discounts available to you as a customer. 

Insurance companies are data driven. They use complicated statistics to determine who makes the best drivers (that would be drivers with the lowest claims) and they offer incentives to line their roster with good drivers and loyal customers. All insurance companies decide your premium based on a variety of factors including where you live, what kind of car you drive, what you are like as a driver and many others. This results in different rates for different people and it never hurts to check in from time to time to make sure you are getting all the discounts you quality for. 

Auto insurance discounts can be broken down into three main categories; loyalty, demographic and driving history. Here is a bit more information about each type of discount. 

Loyalty Discount Programs For Car Insurance

It’s less expensive to keep a customer than to attract a new customer so companies will often give out loyalty discounts to incentivize you to stay and to pay on time or early. With car insurance you can expect discounts for things such as:

  • Bundle Discounts (carrying say home and auto with the same company)

  • Multi-car discounts

  • Auto Draft or Prepayment Discounts

  • Paperless Statements 

Demographic & Affiliation Discounts On Auto Insurance 

Certain characteristics statistically lead to safer drivers and less claims, these vary by area and company but there are some common threads. You can also get discounts based on your affiliation with certain companies. Some typical demographic and affiliation discounts would be:

  • Military

  • Senior

  • Good Student

  • Homeowner

  • Your Workplace

Driving History And Car-Specific Discounts

The type of car you drive impacts your premiums in a big way, as does having a bad driving record with a lot of accidents or tickets.You can get discount based on your driving record, past claims record and having certain features on your automobile. Driving based discounts are typically: 

  • Accident Free

  • Safe Driver

  • Defensive Driver Classes

  • Low Mileage

  • Anti-lock Brakes

  • Anti-theft devices

  • Green cars

Posted 1:03 PM

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