Auto Insurance Discounts

Guest Author - Rhonda Cliett

Insurance companies recognize that certain factors regarding an insured or their vehicle can save them money. As a result, they offer a variety of discounts which can decrease your monthly premium. Some of the discounts will be applied to your overall premium and others are applied to portions of your policy (i.e. property damage, collision coverage, etc.) The discounts will vary from company-to-company so you will need to check with your insurance company to see which ones they offer.

55 and Retired – As if you needed another reason to retire from the rat race! This certainly is welcome news to the baby boomers.

Air Bags and Automatic Seat Belts – The insurance companies like the guarantee that you will be wearing your seat belt each and every time you get into the car to drive. Despite their annoying nature, at least the automatic seat belt has some redeeming value.

Alarm System – The insurance company is banking on the fact that your car is less likely to be stolen if it has an alarm system.

Anti-lock Brakes – Having these installed on your vehicle are good for you and good for your pocketbook when it comes to your insurance premium.

Driver Training Class – It wasn’t fun sitting through that defensive driving class but even your insurance company recognizes the value of the class. Simply send them a copy of your certificate and they will apply the discount (assuming they participate).

Farm Discount – Your vehicle will qualify if it is used primarily by someone on a farm, ranch or orchard. The occupation of the operator must be farming or ranching.

Good Student – A’s and B’s will often result in savings for your student under the age of 25 (21 in some cases). Yet another great reason for spending more time in the books!

Home Insurance – Using the same company to insure both your home and your vehicles can result in a savings.

Insuring More Than One Vehicle – Simply having more than one vehicle on the same policy can result in a savings.

Military Discount – This is for active and retired military but the number of participating companies is limited and even then it isn’t available in all states.

New Car or Economy Car – Buy a new car or an economy car and you could see a bit of savings.

Safe Driving Record – Not only is mom proud of your safe driving record, but so are most insurance companies. If you have gone at least three years without a violation you may qualify for this discount.

Senior Adult – If your vehicle is driven 25% or more by someone 65 or older, you will qualify for this discount.

Students with Restricted License - If you have a student who is under 21, who lives at school over 100 miles from home, and has a restricted license, they may qualify for this discount.