Want to Save Big? Top 5 Auto Insurance Discounts to Ask for
Car insurance can get expensive, especially if you’re new to driving. Plus, rates vary from one state to another, and from one insurer to the next. Here are the top five best auto insurance discounts to ask for – you could save a fortune!
You’ve shopped around and found the best car insurance plan for the best price. Now it’s time to look into which auto insurance discounts to ask for.
You can save a ton of money each year with auto insurance discounts. If you drive a car with certain features and have a good driving record, you can pay less than the original policy quote.
You just need to know which auto insurance discounts to ask for.
Not all auto insurance companies offer the same discounts, and they won’t necessarily let you know if you don’t ask. So it’s important to do your homework and take initiative.
Here are the top five best auto insurance discounts that can save you a fortune.
1. Bundling Discount
If you have more than one car or more than one kind of insurance policy, it’s a good idea to bundle.
For instance, if you have homeowners insurance with one company, auto insurance from another, and life insurance from a third, you’re paying more than you have to.
You might not get discounts on your life or homeowners insurance by switching. But your auto insurance cost will certainly come down.
If you’re making payments to different insurance companies, you can find out which one will offer the better auto policy discount. Then move your home and auto to that company.
Some insurance companies will offer as much as a 20% discount.
Also, if there is more than one vehicle in a household, everyone under one roof should be using the same auto insurance carrier. You don’t have to be married to get the multi-car discount. Your teen driver or a person you live with can all get discounts.
This discount can also be applied to other vehicles, such as a boat, motorcycle or RV. You just need to know which auto insurance discount to ask for.
2. Good Driver Discount
Depending on the insurance company, you can get a discount for not being in an accident for the past three to five years.
If you’re already bundling with a multi-car discount, and everyone in the household is a good driver, then you’re looking at a sizeable discount. This is because the discount applies to each driver on the policy.
3. Good Student Discount
It pays to get As and Bs. If you have a teen driver, then you know that adding them to your insurance policy can be a hefty chunk of money. But if your son or daughter gets good grades, that can reduce the cost.
Typically, your child needs to have a 3.0 grade point average to get this discount. It applies to full-time college students as well as high schoolers.
Younger drivers usually pay more for auto insurance, because they’re inexperienced drivers and get into more fender-benders. But studious young adults spend more time at home studying than driving around getting into shenanigans.
4. Affiliation Discount
Often times an organization you already belong to will offer a group auto policy rate. This can be a school, auto club, credit union, store membership, or if you’re in the military.
If you get a letter in the mail soliciting an offer to get auto insurance through an organization you belong to, don’t just recycle that letter. You might be tossing out a couple hundred dollars.
5. Equipment-related Discount
If your car has accident or theft prevention devices, you could save money.
Let your auto insurance know if your car has any of the following:
- Automatic seatbelts
- Anti-lock brakes
- Airbags
- Anti-theft protection or car alarm
- A car that uses alternative fuel
Each one, or having several of these means getting a car insurance discount.
Auto Insurance Discounts to Ask For
If you’re wondering which auto insurance discounts to ask for. The answer is all of them. There’s no limit to the number of discounts you can receive. And these are just a few of them.
It’s not a bad idea to review your policy each time you’re up for a renewal and find out if there are new discounts you can apply for.
In addition, it couldn’t hurt to periodically shop around. Auto insurance rates change from year to year. And sometimes it pays to switch insurance companies to one that will give you a better policy rate or offer more discounts.
For more articles about saving money, explore our blog.