No matter what type of vehicle you drive, car insurance can be expensive. Aside from the cost of the vehicle itself, car insurance can be one of your biggest expenses as a driver. But, if you know more about car insurance discounts, you can save money.
Insurance companies take many factors into account when determining your rates. They consider things like age, driving record, education, marital status, employment, and creditworthiness. These are things you can’t control. However, you can take advantage of several discounts to lower your insurance premium.
- Safe Driver Discounts
The best way to get car insurance discounts is to maintain a driving record with no at-fault accidents or traffic violations. According to the NAIC, safe drivers pay much lower insurance rates. Some insurance companies also offer discounts for Defensive Driving or Drivers Education courses.
- Multi-Policy Discount
Many insurance companies offer discounts if you bundle all your insurance policies with their company. For instance, if you have life or homeowners insurance with the same company, bundling those policies with your car insurance can provide significant savings.
- Low Mileage Discount
If you drive less than the average miles per year, you may qualify for a discount. They may also offer rates based on the number of miles you drive. According to the Insurance Information Institute (III), low mileage will help you save on insurance costs.
- Multi-Vehicle Discount
Insurance companies have a predetermined base cost for each policy you purchase. So, save money by insuring multiple vehicles on the same policy. For example, if you have two vehicles insured on separate policies with different companies, you’ll pay base costs for each policy. Combining the vehicles on one policy allows the insurer to offer a discount.
- Discounts for Car Safety Features
If your vehicle has safety features such as anti-lock brake systems (ABS) or airbags, traction control, stability control, or enhanced seat-belt features you should ask about discounts, according to the Insurance Information Institute.
- Good Student Discounts
Young drivers with a good grade point average (GPA) can save money on car insurance. Many insurers offer discounts for student drivers who maintain good grades, the Insurance Information Institute advises. Full-time students up to age 25 may also get discounts, depending on the insurance provider.
- Anti-Theft Device Discounts
Most car insurance companies offer discounts for factory alarm systems or aftermarket products you install. An alarm system or stolen vehicle recovery transceiver will help deter theft or vandalism, according to the NAIC. Although the discount may be small, combining it with other discounts can result in noticeable savings. Consumer Reports provides a complete list of vehicle safety features.
- Telematics Device Discounts
What is a telematics device? It is a device that collects information about your driving habits. Many insurance companies use the data from these devices to qualify you for car insurance discounts.
- Homeowner Discount
The homeowner discount is separate from the bundle discount. Depending on the type of home you own, your homeowner discount could be significant. Be sure to let your insurance company know what type of residence you own. You may need to provide proof that you own the home to qualify for the discount.
- Renew Your Car Insurance Early
Going without car insurance is against the law. So, if you plan to switch to a different insurance company, do it before your existing policy expires. Some insurance companies offer discounts if you sign a new policy while your other policy is still in effect. Also, if you can pay your entire annual premium up-front, the insurer may offer a discount.
It’s important to do your research and compare quotes, Sometimes discounts aren’t all they’re advertised to be. You may be able to find low rates even without discounts if you shop around and ask questions.
Talk to Sandifer Insurance About Our Car Insurance Discounts
We realize the many money-saving advertisements by insurance companies can be confusing. Even the smartest shopper can get sidetracked and end up wasting time and money. You can avoid confusion by consulting with the experts at Sandifer Insurance Agency.
Sandifer is a family-owned business with over 40 years of experience in helping people find affordable car insurance. We will do the shopping around for you and compare rates to help you save money on all of your insurance needs. Be sure to talk to us about bundling your homeowners, life, farm, general liability, and automobile policies.
Before making a choice based on car insurance discounts, talk to one of our insurance agents. You can reach us by phone, email, or online to get a free quote or to ask questions about automobile insurance. Contact us today to save money and ensure that you are adequately protected by your insurance coverage. We look forward to helping you protect your family and your valuables.
Sources:
naic.org/ – Auto Insurance
naic.org/ – Nine Ways to Lower Your Auto Insurance Rates
consumerreports.org/ – Guide to Car Safety Features