Common Auto Insurance Discounts to Ask Your Agent About

Everyone wants to pay an affordable rate on their auto insurance policy. Some might be tempted to keep their coverage limits as low as possible so that they only must pay for the minimum amount of coverage, which is often cheapest. 

However, there are still ways to save money even when you carry more appropriate levels of coverage on your plan. Auto insurers frequently offer discounts which can reduce the premiums of qualifying policyholders. The more discounts you are able to apply, the better your savings will be. 

Most insurers offer numerous discount opportunities, and even if you don’t qualify for all of them, then you will usually qualify for some. Consider some of the most widely available discounts on the market: 

1.Safe Driving Discounts 

The more instances of tickets, DUIs or accidents you have on your record, the more of a cost risk you will be to the insurer, and the higher your premiums might be. However, if your insurer sees that you have no recent infractions on your record, then they might offer you a safe driving discount. 

2. Accident Forgiveness 

Your safe driving discount might expire if you have a wreck, and your premiums might rise as a result. However, if you have only one accident in a certain period of years, then your auto insurer might “forgive” this accident, meaning that they will not eliminate this discount as a result. 

3.Customer Loyalty Discounts 

If you stay with the same auto insurer for years on end, then you develop a history that insurer. They will therefore be better able to manage their relationship with you and understand your risks to them. As a result, they might offer you a loyalty discount. 

4. Auto Pay & Auto Renewal Discounts 

By agreeing to let your premium payments be made automatically through a bank deduction or credit card charge, then you won’t run the risk of ever missing a payment. Additionally, if you sign up to let your policy automatically renew at the start of its next term, then you will not face the risk of letting your coverage lapse. Since missed payments and cancelled policies are high risks to insurers, avoiding them will help you save. 

5. Bundling Discounts 

You can often qualify for comparative savings just by bundling multiple insurance policies through the same insurance company. For example, if you buy your homeowners, auto and other plans from the same carrier, then the carrier might charge you a comparatively lower rate for each than if you were to buy a sole policy. Therefore, your overall savings might be better. 

Other discount opportunities, like student discounts, veteran discounts or professional organization discounts might also exist, so talk to your agent at the time you enroll in your plan to learn more about how you can optimize your ability to save.