Auto Insurance Discounts

Auto insurance can sometimes be expensive, which makes finding ways to save money important. Most auto insurance companies will offer you a discount for various reasons. Some of those reason can be bundling multiple policies, getting great grades, being a safe driver and loyalty. In this article we outline a few common ways you can save money on auto insurance.

Affiliation 

If you are active duty or retired from the military, you may qualify for an auto insurance discount. As do many federal employees or people who work for particular companies. Beyond employer and military discounts, there are some auto insurance companies that offer affinity discounts. As an example, alumni for some universities and members of fraternities can be eligible for auto insurance discounts. As well as police officers, firefighters, teachers and personnel working in the medical industry. 

Auto related features

Certain features on your vehicle can help you to save money on your auto insurance. Items such as anti-lock breaks, dual airbags, and other safety features. Some discounts may only apply to personal injury and collision portions of your auto insurance coverage. If you buy a new car of electric vehicle you may also get a discount. 

Personal traits

Some auto insurance companies will offer a discount if you own a home, even if you didn’t get your homeowners insurance policy through them. Depending on your age you may qualify for different discounts. Older adults older than 55 years old can sometimes get reduced premiums if you drive less and are willing to take a drivers safety test. 

Driving history

If you’ve had your auto insurance policy for more than 3 years and haven’t had an accident and have taken a defensive driving course, you may qualify for a discount. Also if you have teenagers on your auto insurance policy and they pass drivers education classes you may get a discount as well. 

Some auto insurance companies will offer a discount for sharing your data. Most of these programs use telematic technology which will track your driving behavior through an app. It can offer discounts and rewards or just create custom coverage. Telematics can offer an auto insurance discount but it will not affect your base auto insurance premium. 

Customer loyalty

Most auto insurance companies will offer discounts to their loyal customers. Your insurance company wants you to stay with them. So if you’re a longtime policyholder theres a good chance they will offer you a discount on your auto insurance

Bundling multiple policies

This is one of the best ways to save money on your auto insurance. If you have a home insurance policy, you may want to think about combining it with your auto insurance policy to save money. 

Policy

How you buy and pay for your auto insurance is a very easy way to save money on your policy. There are many auto insurance companies that will offer rewards to customers for paying in full, agreeing to automatic payments, and receiving electronic statements. There are also some auto insurance companies that will offer continuous coverage discounts. This is for customers that sign a new policy before the existing one expires, typically seven days before the old policy expires.

Auto insurance discount tips

Auto insurance discounts can vary from auto insurance company to auto insurance company. They aren’t exactly straight forward. One auto insurance company may offer an accident free discount after 3 years and another auto insurance company may have different guidelines or not offer one at all. Below are a few tips to keep in mind;

Understand how discounts work

Usually before the auto insurance discount is applied, your auto insurance rate is calculated. The base rate you receive is determined by factors like age, gender, make and model of your vehicle, driving history, location and more. After your auto insurance agent has your base rate, surcharges are added for traffic violations for accidents, tickets, and DUI’s. From there your discount is applied. 

Ask about discounts

It’s always best to ask your auto insurance agent what you qualify for. The agents at Eugene C Yates Insurance Agency can help you here. They know of just about every auto insurance discount available through every provider. All you have to do is them give them a call and ask what you qualify for!

If you’re interested in find out what you qualify for and to see what auto insurance discounts apply, please give us a call today at 916 313 6100