12 Hidden Discounts on Car Insurance

You know that taking a defensive-driving course or installing anti-theft devices can give you a discount on your car insurance, but did you know that factors such as having a master’s degree or being married could also earn you a discount?

We shopping around for your next auto insurance policy, ask your representatives which discounts are available to you. You may qualify for one or more of the 12 listed below, which can help you save up to 25% on your car insurance each year!:

1.       Good-Student Discount: Do you have a high school or college student in your family? If you do, you know having your child on your insurance can be quite pricey. But if they do well in school, you may be eligible for a discount! More than 75% of insurers offer discounts to students under the age of 25 who get good grades. Rules vary, but a 3.0 GPA often is required. Average savings: 16%

2.       Marriage Discount: Are you married? If so, you may be eligible for a 40% discount! Insurers found that married people tend to be safer drivers than unmarried ones. Average savings: 14%

3.       Low Annual Mileage Discounts: Do you drive substantially less than the average of 15,000 miles per year? The fewer miles you drive, the lower your odds of getting into an accident. Therefore, you might be eligible for a low annual mileage discount! Average savings: 15%

4.       Farm-Vehicle Discount: Do you happen to use your vehicle for farm use? The odds of getting into an accident are much lower when a vehicle is driven primarily on a farm. Average savings: 10%

5.       Facebook “Like Discount: Are you a Texas of Arizona resident? Allstate’s Esurance Website offers a discount to its residents of Texas and Arizona who “like” their Facebook page! Average savings: 10%

6.       Membership Discounts: Are you a member of AARP, AAA or any other club and association that an insurer might partner with? These could include profession associations, workers’ unions, large employers or membership organizations. Insurers often offer discounts to members of these clubs they partner with. For example, Geico offers a discount up to 8% to member of Mensa, the high-IQ organization, and up to 8% to active and retired federal employees. Average savings: 10%

7.       Up-Front Payment Discount: Do you plan on paying premiums in full at the start of your policy period rather than having monthly installments? Average savings: 9%

8.       Bundled-Policy Discount: Do you plan on purchasing auto and homeowner’s insurance with the same company? Often times insurers offer discounts to customers who purchase both from the same company. Auto insurance can also be combined with renter’s insurance, life insurance or some other types of insurance! Average savings: 9%

9.       Advance-Purchase Discount: Do you plan on renewing your policy? Often times insurers offer a 25% discount to existing customers who renew their coverage 7-10 days before the old policy expires. Average savings: 8%

10.   Owning a Home: Do you own a home? You may be eligible for a discount if you do! Insurers have found that homeowners are less risky as customers. Average savings: 6%

11.   Automatic-Payment Discount: Do you plan on having your car insurance payment directly withdrawn from your bank account? If so, you may be eligible for a discount, depending on your insurer. Average savings: 4%

12.   Advanced-Degree Discount: Do you have a master’s degree or PhD? A small number of insurers offer a discount to their customers with a higher level of education. Average savings: 4%

Before you purchase a new car insurance policy, make sure you ask around to see what kind of discounts are available to you!

Contact us for a free case appraisal today!

Source: Bottom Line Publications

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As you know, the COVID-19 pandemic has introduced changes to many lives and businesses in our communities, and around the world. We, much like our neighbors and friends, have been taking precautions to ensure that we are still fulfilling our ethical and moral obligation to our clients, while also prioritizing the health, wellness and safety of our employees.

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This pandemic is unlike anything any of us have faced in our lifetimes, and while we can continue to emotionally support one another through it all, staying home and keeping your distance is vital to the health and wellness of our communities. It does not feel good to break routines, cancel events and retreat from our normal, day-to-day socializing, but let us remember that, in times of strife, prior generations were asked to go to war and we are simply being asked to stay home. Your isolation equals more lives saved, and more time for medical providers to prepare for the treatment of patients battling COVID-19.

When the dust settles, we will join together with a greater appreciation for our lives, local businesses, loved ones and health. Until then, we will continue to offer guidance from a safe distance.

Very truly yours,

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