Car Insurance Discounts

About Car Insurance Discounts

Car insurance discounts can help to reduce your car insurance rates. The type of discounts that you qualify for vary significantly depending on the insurance company you choose to buy the policy from, the current rate you pay, your age, and your driving record.

Many car insurance companies offer a multitude of discounts to those who are looking for them. By switching companies or asking about some of the discounts that your current company offers, you could save yourself hundreds of dollars every year.

Common Car Insurance Discounts

Here are some common insurance discounts that you should look for and ask about:

• Multiple Policy Discounts – If you have multiple vehicles insured under one policy or if you insure your home and belongings under the same policy as your vehicle, you could save anywhere from 5 to 20% on your car insurance rates.

• Restraint System Discounts – Sometimes called a seatbelt or airbag discount, this applies to vehicles that have passive restraint systems, such as airbags and factory-installed motorized seatbelts.

• Anti-Theft Device Discounts – If your vehicle is equipped with an anti-theft device, you may qualify for a special discount.

• ABS Discounts – Cars that have automatic factory-installed four-wheel anti-lock braking systems (ABS) are often eligible for policy discounts.

• Safe Driver Discounts – Car insurance premiums are based on many different things, including your driving record. You may be eligible for special discounts if your driving record is free from blemishes, such as tickets or accidents.

• Good Student Discounts – Being a good student can bring more rewards than just good grades. You may also be eligible for discounts on auto premiums if you meet basic requirements.

• Retirement Age Discounts – Many companies now offer discounts to those who are 55 years or older and no longer employed.

• Farm Discounts – If your main occupation is farming or ranching, this discount may apply to any autos used for ranch and farming work.

• Economy Car Discount – Specific types of cars are eligible for insurance discounts.

• Utility Vehicle Discounts – Specific types of pickup trucks are also eligible for insurance discounts.

• Association Discounts – Membership has its privileges, particularly when it comes to car insurance rates. Being a member of the military, credit unions, teachers associations, and other organizations, can provide significant discounts on your car insurance premiums.

Finding Discounts

You may currently have car insurance discounts on your policy and not even know it. Often, the information you are asked to supply when you purchase a policy qualifies you for certain discounts that you are not aware of, such as an anti-lock brake discount or an anti-theft discount.

To see what type of car insurance discounts you are currently getting, pull out a copy of your policy. Any discounts that you were given will be listed here. If you don’t find any notations, call your insurance agent to find out exactly what discounts, if any, were given to you.

Keep in mind that different companies offer different discounts on car insurance. If your current company isn't providing you with the types of discounts you want, consider getting a quote from another company or agent.