It’s widely accepted that sensible driving, maintaining creditworthiness and excelling academically can help drivers land better deals on their car insurance. However, what are some of the most effective auto insurance discounts? We’ve shortlisted seven top discounts that could allow eligible drivers to slash their auto insurance premiums by as much as 50%:
#1. Safe Driver Discount
The majority of auto insurance providers offer substantial discounts to drivers who maintain a spotless driving record. This often includes drivers who haven’t had any unfortunate incidents, or those who haven’t been issued a moving traffic violation in the run-up to their policy period. Some insurers also offer reduced collision deductibles that lower with each accident-free year, while other providers may even refund a portion of your premium if you manage to avoid any accidents during your coverage period.
#2. Good Student Discount
Typically, car insurers offer attractive discounts to students who meet certain criteria. These discounts are especially for full-time students between 16 and 24 years old who aren’t married and maintain a respectable grade point average (GPA), as defined by the insurance company. By achieving good grades, students can potentially trim 10 to 20% off their total policy price.
#3. Senior/AARP Discount
Carriers often offer age-based discounts where senior drivers receive preferential rates. For safe drivers aged 50 and over, including AARP members, insurance companies offer about a 10% discount on premiums, with some providers offering up to a 20% discount.
#4. Discount for Drivers Above 25
When drivers hit the age of 25, they are typically awarded lower insurance rates due to their mature decisions and safer driving behaviors, making them less of a risk to insure. Many insurance providers offer roughly 10% off premiums for those who have reached their 25th birthday.
#5. Military Discount
Military personnel, whether active duty or retired, are often rewarded with sizeable discounts on their car insurance premiums. These military discounts vary among providers, but can result in savings of 10, 15 or 20%. This discount is extended to National Guardsmen and Reservists. Insurance companies such as USAA, exclusively catering to military members and their families, can be an economical choice.
#6. Federal Employee Discount
Federal government employees can look forward to discounts on their auto insurance premiums, with most companies offering around 10% off, and even higher for some providers.
#7. Multiline Discount
By insuring multiple assets with the same provider, drivers can access sizeable savings. If you’re a homeowner, renter, or own more than one vehicle, bundling these insurance policies together can earn you a multiline discount, ranging from 10 to 30% depending on the number of policies.
Take full advantage of these top seven insurance discounts to save money on your auto insurance. There are many other valuable discounts out there just waiting to be discovered, so be sure to consult with your auto insurance provider to uncover which ones you may qualify for.
