What Car Insurance Discounts Can You Obtain From The Insurance Company?

Paying the monthly bill for car insurance can be a burden for drivers. Many of them are struggling to gather enough money to pay their monthly insurance bills. Luckily, car insurance doesn’t have to be expensive. To make car insurance more affordable, car insurance companies are offering various types of discounts that can be earned by drivers after meeting the requirements.

The most important car insurance discounts offered by providers are the following:

Loyalty discount. To get a loyalty discount, drivers should ask their insurers whether a discount is offered, how long they will need to be a customer to be eligible, and any other terms that might apply. Insurance companies apply the discount after a predetermined period of time, and some companies will increase the discount the longer the drivers remain a customer.
Good student discounts. High school and college students are often eligible for discounts. Insurers offer this discount to students with good grades because they believe that a good student is likely to be a more responsible driver than a mediocre or poor student.
Bundling or multipolicy discounts. Most insurance providers offer a discount for customers who purchase two or more policies together. Policyholders can bundle their car insurance policies with other policies such as homeowner’s insurance, boat insurance, or renter’s insurance.
Good driving discounts. Generally, there are two types of good driving discounts: those offered to drivers who maintain a clean driving record free of crashes and moving violations, and those offered to drivers who opt-in to tracking programs. Drivers who keep a clean driving record can save about 5% on their policies, while drivers who opt-in for a tracking program are likely to save way more.
Defensive driving discounts. Drivers who successfully complete an approved driver training course are eligible for a defensive driving discount. However, drivers should check if their insurers offer this discount to them.
Employer/ affinity group discounts. Drivers who work for a company that has negotiated a bulk rate with a certain insurance company are eligible for this type of discount. A typical affinity group discount can be anywhere from 5% to 20%, though the actual savings depend on the terms the employer negotiated with the insurer.
Teacher discounts. Many major auto insurance companies offer special discounts, rates, or perks, especially for teachers and educators.
Military and veteran discounts. Most car insurance providers offer special rates or discounts to active military personnel, veterans, and their families. Insurance providers can offer perks like discounts on vehicles parked on a military base and discounts on vehicles stored during active deployment.
Safety gear discounts. Unfortunately, safety equipment discounts aren’t that common anymore. Most new vehicles are equipped with technology that reduces or minimizes the risk and impact of a crash. Only a few insurers offer specific discounts for vehicles with such features. Insurers say that, in general, customers with such vehicles already pay lower rates for vehicles with safety features such as anti-lock brakes.
Low mileage discounts. Insurance providers are offering this discount to drivers who drive less than a certain amount of miles, usually less than 15,000 miles per year.

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