Cut Costs With These Auto Insurance Discounts

You’ve been nickeled and dimed for years. Fight back. Starting with what you spend on auto insurance. In a recent survey, co-sponsored by Trusted Choice and the Independent Insurance Agents & Brokers of America, more than 20 percent of car owners reported that they “either didn’t know or said they were not maximizing all the auto insurance discounts available to them.” Don’t be one of them. Review you automobile coverage now to see if you’re overlooking any auto insurance discounts and benefits.

Auto insurance discounts offered by most carriers include:

1. Low mileage disounts. If you’re driving less these days, you could realize some big savings.
2. Multi-policy discounts. Insure all your vehicles with one carrier or take it to the next level and have one carrier write all your insurance policies.
3. Anti-theft discounts. Passive devices net some savings. Electronic tracking systems pull even bigger discounts.
4. Safety equipment discounts. Features that prevent accidents or lessen their severity like airbags, anti-lock brakes, daytime running lights and automatic restraint systems qualify.
5. Good credit discounts. If you’ve managed to maintain a good credit rating it could pay off in lower auto insurance premiums.
6. Good driving record discounts. Reap the monetary rewards of avoiding accidents and tickets.
7. Lump payment discounts. You can save a few bucks by paying your premium in one lump sum instead of making installment payments.
8. Long-time customer discounts. Insurers are painfully aware that consumers are comparing and constantly switching. They may reward your loyalty with lower premiums.

Discounts for teen-age drivers include:

1. Good grade discounts. If your teen driver maintains a good GPA, it could save you money.
2. Driver education discounts. Enrolling your teen in a certified driver course might mean cost savings.
3. Good citizen discounts. Is your teen driver a member of a community service organization? Check to see if it qualifies for a discount on teen car insurance.

Little known discounts include:

1. Green driver discounts. Some carriers offer discounts for hybrid vehicles.
2. Defensive driver course discounts are often available to drivers who complete a certified defensive driving course.
3. Carpool discounts. Fewer drivers mean fewer accidents in the statistical probability-driven minds of insurers.
4. Mature driver discounts. If you’re over 55, you may qualify.
5. Alma mater discounts. Believe it or not, some insurers give a credit for graduating from certain preferred universities.
6. Lost spouse discounts. Some insurers offer married-status discounts to widows.
7. Affiliation discounts. You may belong to a union, credit union, professional association, alumni group or service club that qualifies for group auto insurance discounts.
8. Military discounts. Active and retired military can save up to 15% of annual premiums.

Auto insurance discounts you won’t know about unless you ask. Talk to your insurance agent to see if you’re leaving money on the table by overlooking a potential discount.