Car insurance is an absolute necessity if you have a car on the road, but it can certainly be a big expense. As many of us are feeling the squeeze right now when it comes to our wallets, you may be looking for ways to cut back on necessary expenses.
By simply knowing the right questions to ask, you can potentially save hundreds of dollars on your car insurance. In general, there are 7 key discounts that you should always ask about when shopping for car insurance. Let’s take a look at each one.
Pay-Per-Mile Discount
Usage-based insurance is a newer concept that can drastically improve the way drivers pay for their auto insurance. The pay-per-mile discount is a feature that has been gaining popularity among drivers who aren’t always on the road. It’s an innovative policy that allows people to pay for insurance based solely on their actual mileage, which means they can save money if they don’t drive frequently.
To learn more about pay-per-mile insurance, you can get educated on websites like Insurance Navy Brokers before making an informed decision. The eligibility for this discount is usually determined by installing a telematics device in your car that tracks your mileage and reports it to the insurance company.
Safe Driver Discount
For drivers who value safety and reliability on the road, there’s great news. Many insurance companies offer safe driver discounts to those who meet certain qualifications. By maintaining a clean driving record over an extended period of time, usually three to five years, drivers can earn significant savings on their auto insurance premiums.
The good driver discount is an excellent incentive for drivers to prioritize safe driving habits and reduce the risk of accidents on the road. In addition to the financial benefits, safe driving also promotes the well-being and safety of yourself and others on the road.
Multi-Vehicle Discount
Bundling multiple vehicles under a single policy can provide significant savings through the multi-vehicle discount option provided by many insurers. When households combine the insurance for two or more vehicles, they simplify their insurance management and, most importantly, reduce the overall cost.
The multi-vehicle discount appeals to families with multiple drivers or individuals who own more than one vehicle. It’s a straightforward way for insurers to acknowledge and reward the pooled risk, often resulting in cheaper premiums for each car insured.
Defensive Driving Course Discount
Are you looking for a way to become a safer driver and save money on your car insurance? Consider completing an approved defensive driving course! These courses teach drivers how to anticipate and avoid potentially dangerous situations on the road, making them better prepared for unexpected events.
Beyond improving your driving skills and promoting road safety, completing a defensive driving course can also earn you a discount on your car insurance premiums. That’s because insurance companies see those who have taken this extra step as lower-risk drivers.
Anti-Theft Device Discount
Cars that have anti-theft systems installed provide their owners with peace of mind. These devices make it more difficult for thieves to steal the vehicle, and as a result, have led some insurers to offer discounts for such automobiles.
While the discounts may not be significant, every little bit helps, especially when it comes to insurance premiums. So, if you’re in the market for a new vehicle or considering adding an anti-theft device to your current ride, make sure to ask your insurance provider about potential discounts.
Low-Mileage Discount
Similar to the pay-per-mile discount, a low-mileage discount is another way for drivers who don’t frequently use their vehicles to save on car insurance. This discount typically applies to those who drive less than a certain number of miles per year, usually 7,500 or less.
If you’re someone who primarily uses public transportation or works from home, the low-mileage discount may be a great option for you. Just make sure to accurately estimate your annual mileage to ensure you qualify for the discount.
Loyalty Discount
Many insurance companies offer loyalty discounts as a reward for customers who remain with them long-term. These discounts can come in various forms, such as reduced premiums or added benefits.
If you’ve been with your current insurance provider for several years and have a good relationship with them, it doesn’t hurt to see if there are any potential savings that you may be missing out on — just by staying loyal to your insurer.
In the quest for more affordable car insurance, understanding and asking about these 7 discounts can lead to substantial savings. Whether it’s driving less, enhancing vehicle security, or committing to safe driving habits, there’s an opportunity for nearly every driver to reduce their insurance costs.
By doing some research and speaking with your insurance provider, you can identify which discounts you’re eligible for so that you can start enjoying the benefits of a more affordable car insurance policy.