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Car Insurance Discounts to Ask About

Many insurers recommend a policy review once every 12 to 18 months. With a policy review, you can be sure your coverage is up to date and provides protection where you need it most.

But a policy review can also uncover discounts for which you may be eligible. The newfound savings can help offset any adjustments you make to your coverage or can pay for an extra treat for the family. How you use your savings is up to you.

First, you will need to know which discounts may be available and decide which ones might be right for you. Not all insurers offer the same discounts, but you will find that many times there is a lot of similarity in discounts available.

Here are some common discounts to ask your agent or broker about:

Driver safety discount: Discounts for driver safety can take several forms. Some insurers offer a discount based on real-time driving using an in-car device. The device might monitor speed, cornering, stopping, time of day, and other driving factors, rewarding careful drivers with a discount on premiums.

Accident free/good driver discount: Accident-free discounts are common. Safety steps like avoiding fatigued or distracted driving not only keep you safer, but they can also save you money with some insurers by remaining accident free.

Low mileage usage discount: Fewer miles driven often means decreased risk. Ask your agent or broker if you can earn a discount for low mileage.

Multi-car discount: Most insurance companies offer a discount for insuring multiple vehicles on the same policy. Adding a second or third car to the household may be more affordable than you think.

Pay-in-full discount: Discounts for paying your policy in full are common. If your insurance needs change and you need to cancel the policy, your insurer can refund the unearned premiums for the time the policy is not in force.

Anti-theft device discount: Theft deterrents like alarms or vehicle tracking systems can earn a discount with many providers.

Good student discount: Save on coverage for young drivers with good grades. Ask your agent or broker how to qualify.

Student away from home discount: Students attending college away from home can earn a discount as well with many insurance providers.

Group discount: Members of certain groups, such as military members or members of certain work unions may earn an extra discount with some insurers.

Senior driver discount: Your driving experience can save money on your insurance. Drivers over age 55 can qualify for a senior driver discount with many insurance providers.

Multi-policy discount: Many times, you can also save money on your auto insurance or other policies by purchasing more than one policy type from the same insurer.

​Ways to save can vary by provider. If you have not reviewed your coverage lately, reach out to your broker to schedule a policy review. The review lets you get your coverage up to date and if you qualify for any new discounts, just may save you money as well.