FAQ

Car Insurance Discounts: Maximize Your Savings in 2022

Auto insurance discounts are special offers from insurance companies that allow drivers to save up to 35% on their annual premium. Most insurers offer a wide range of auto insurance discounts, which fall into three general categories: policy discounts, driver discounts, and vehicle discounts.

Policy discounts are discounts offered by insurers to retain you as a customer. Driver discounts are offered to drivers who pose a relatively low risk to their insurer based on characteristics such as age, driving history, and annual mileage. and vehicle discounts are available to drivers who have additional safety technology in their car.

Reading: How to get discounts on auto insurance

Most common car insurance discounts

  • safe driver discount
  • anti-theft device discount
  • multi-vehicle discount
  • discount for policy package
  • good discount for students
  • low mileage discount
  • defensive driver class discount
  • types of car insurance discounts

    list of car insurance discounts

    • customer loyalty discount
    • customer retention discount
    • discount for new customers
    • discount assured continuously
    • billing discount
    • combined policy discount
    • good discount for students
    • discount for resident students
    • good driver discount
    • driver education discount
    • discount based on usage
    • discount for mature drivers
    • occupational discount
    • organizational discount
    • discount for non-drinkers
    • discount for married couples
    • discount for owners
    • discount on security features
    • discount on passive restraint systems
    • discount anti-theft system
    • new car discount
    • car insurance discounts explained

      customer loyalty discount

      Insurers often offer discounts to long-term customers as a special reward. With american family and usaa, for example, the amount you save depends on how long you’ve had your policy.

      • potential savings: 2% – 10%
      • main insurers that offer this discount: usaa and american family
      • customer retention discount

        Before you switch to a new insurer, many insurance companies will give you a discount to give you a chance to keep your business.

        • potential savings: up to 10%
        • Major Insurers Offering This Discount: Many insurers offer a customer retention discount, but none openly advertise it.
        • discount for new customers

          Most insurers offer customers an initial bonus for switching their coverage from another insurance company. with travelers, for example, you can save up to 10%, depending on how far in advance you buy your policy. To maximize your savings, be sure to get a quote before your old policy expires.

          • potential savings: 5% – 15%
          • main insurers that offer this discount: allstate, liberty mutual, american family and travellers.
          • discount assured continuously

            You’ll save on premiums with most insurance companies if you can prove you’ve had insurance for the previous six months. for example, the exact amount you save in progressive depends on how long you’ve been continuously insured.

            • potential savings: 5% – 25%
            • main insurers that offer this discount: progressive and travelers.
            • billing discount

              Receiving all correspondence by email, paying online, accepting automatic payments and paying in advance can add up to significant discounts. for example, nationwide it offers a one-time discount when you set up automatic deductions from your bank account.

              • potential savings: 2% – 25%
              • Major insurers offering this discount: Progressive, Liberty Mutual, Farmers, Nationwide, American Family, and Travelers.
              • combined policy discount

                drivers can save by insuring multiple vehicles on the same policy. Similarly, insurers offer discounts for drivers who use the same insurer for other types of insurance, such as homeowners or renters. In Progressive, for example, drivers save an average of 12% when insuring multiple vehicles and 5% when purchasing multiple policies.

                • potential savings: 1% – 17%
                • Major insurers offering this discount: State Farm, Geico, Progressive, Allstate, USAA, Liberty Mutual, Farmers, Nationwide, American Family, and Travelers.
                • good discount for students

                  showing a grade point average of “b” or higher may make young drivers eligible for a discount. At Geico, for example, full-time students can save up to 15% on their premium with this discount.

                  • potential savings: 5% – 20%
                  • Major insurers offering this discount: State Farm, Geico, Progressive, Allstate, USAA, Liberty Mutual, Farmers, Nationwide, American Family, and Travelers.
                  • discount for resident students

                    See also: How much does car insurance cost for 18 year olds

                    You can save on premiums if an insured student attends school at least 100 miles away and doesn’t have access to the insured vehicle. For example, Travelers offers a 7% discount for long-distance students.

                    • potential savings: 7% – 35%
                    • main insurers that offer this discount: state farm, progressive, liberty mutual, farmers, american family and travelers.
                    • discount for good driver

                      Having a clean driving record and no history of auto insurance claims will save you money. Some insurers will allow you to qualify even if you have claims on your record, as long as you’ve been a good driver for a certain period of time. For example, you can get a nice usaa driver discount if you go five years without a traffic ticket or claim.

                      • potential savings: 10% – 30%
                      • Major insurers offering this discount: State Farm, Geico, Progressive, Allstate, USAA, Liberty Mutual, Farmers, Nationwide, American Family, and Travelers.
                      • discount on driver education

                        Take an approved defensive or insurance driving course for reduced fees.

                        • potential savings: 2% – 10%
                        • major insurers offering this discount: state farm, geico, usaa, nationwide, and travelers.
                        • discount based on usage

                          Allowing an insurance company to track your actual driving habits, typically through a device connected to your car or a smartphone app, can offer substantial savings. progressive drivers, for example, save an average of $145 through the snapshot program.

                          • potential savings: up to 30%
                          • major insurers offering this discount: state farm, progressive, usaa, allstate, nationwide, american family and travellers.
                          • discount for mature drivers

                            Thirty-four states and the District of Columbia require insurance companies to provide discounts to older drivers who take an approved senior driving course. however, American Farmers and Family offer the discount to all eligible drivers, regardless of status.

                            • potential savings: 1% – 15%
                            • Major insurers offering this discount: Farmers and American Family.
                            • occupational discount

                              Certain professions are statistically less likely to file costly claims. As a result, they pay lower rates for car insurance.

                              • potential savings: 10% – 20%
                              • Major Insurers Offering This Discount: Most insurers offer lower rates for drivers in certain occupations, such as scientists and pilots. they do not specify a separate discount.
                              • organizational discount

                                Many private organizations, such as alumni groups, credit unions, and auto clubs like AAA, provide savings opportunities for members by partnering with a specific insurer. Geico, for example, offers discounts for members of more than 500 organizations.

CATEGORY: FAQ

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button