You’ll never know unless you ask. When it comes to discounts on a car insurance quote, it is a statement that could not be truer. Discounts abound in the auto insurance industry, making premiums more affordable for drivers who are deemed a lower risk by insurance companies. From well-known safe driver discounts to lesser known rate reductions for prompt payments.
1. Paid-in-Full Discount
Most people do not think of their car insurance premiums in terms of the total price, but rather based on the cost of the premiums when they are broken into monthly installments. If you have the extra cash on hand, however, talk with your agent about a discount for paying for your policy in full.
2. Claim-Free Discount
Being accident-free has its advantages. Since a claims-free customer saves insurers money, many are quick to reward a good driving record. If you have not been involved in an accident or needed to make a claim in the past few years, you may qualify for discounts on your premiums. The specifics vary from insurer to insurer and between states, but you may qualify for discounts of as much as 10 – 20 percent.
3. Good Driver Discount
In addition to going claims-free, many insurance companies take it a step further, rewarding drivers for their safe habits. The definition of ‘safe driving’ can vary between insurers, but a spotless driving record free of traffic violations and at-fault accidents is a good start.
4. Multi-Car Discount
Many households have more than one driver, as well as multiple vehicles in the driveway. If yours is one of them, talk with your insurer about a multi-car discount. Insurance companies appreciate your business, and many are quick to lower your rates if you insure more than one vehicle on the same policy.
5. Multi-Policy Discount
Like the multi-car discount, the multi-policy discount is based on loyalty. If you don’t already, consider purchasing more than one insurance product from the same company. Taking your homeowners insurance to the same provider as your auto insurance could translate to major savings.
6. Safety Equipment Discount
If your car is equipped with safety features, talk with your insurer to find out if they could make you eligible for a discount. Anti-theft alarms, for example, could deter thieves; whereas anti-lock brakes may help you better avoid a collision. These features lower your risk of filing a claim, which translates to greater savings for your insurer.
7. Renewal Discount
Once you find the right policy, it could pay to stick with your insurer. While you should always talk with your agent about your insurance options before renewing, staying with the same provider could qualify you for a renewal discount. Talk with your agent about how soon you need to renew in order to qualify.
8. Good Student Discount
Car insurance and student drivers are not always the most affordable combination. According to Bankrate, adding a teenager to your policy could cause your premiums to increase by as much as 50 – 100 percent. However, insurers recognize that teens who maintain good grades in school may also be more likely to practice safe driving habits. Bring your student’s report card to your agent to find out if he or she qualifies. In many cases, college students with high GPAs qualify too.
9. Low Mileage Discount
This little-known car insurance discount is often overlooked despite having the potential to save driver hundreds of dollars per year. While most drivers use their vehicles to commute each day, some work from home or use public transportation. If you use your vehicle less than the average driver, talk with your insurer about a low mileage discount.
10. Association Discount
Finally, make a list of the various organizations you are affiliated with. Some insurers offer discounts to members of exclusive groups and the employees of big corporations. Let your agent know if you are involved with any clubs, alumni associations, professional organizations and other groups.
Noah Insurance has offices throughout Western Wisconsin and Eastern Minnesota. If you live in or around these areas, we want to help you find the discounts you deserve. There is no need to jump through hoops; simply contact one of our offices to speak with a friendly agent who can help you cut your rates and offer you car insurance quotes from many of the leading Wisconsin and Minnesota insurance providers. We look forward to serving you soon.