9 Auto Insurance Discounts To Take Advantage of On Your Next Policy

Even though auto insurance is an inescapable expense if you own or drive a car, that doesn’t mean it has to empty your wallet when it’s time to pay your premium. However, that doesn’t mean that there aren’t ways to lower the amount you pay for it.

Every company uses a different algorithm to calculate rates, meaning your premium could vary by hundreds of dollars depending on where you look. This is why it’s such a good idea to periodically shop around for auto insurance quotes. Comparing quotes every six months is an easy way to make sure you’re never overpaying for your policy.

Another thing that makes a difference in your total policy cost is discounts. Many insurers offer discounts for things like good driving habits or your car’s safety features. Though these are common discounts, plenty of companies offer more unusual discounts, based on things like your occupation or the features included on your vehicle.

Next time you compare auto insurance quotes, ask about discounts for:

1. Good credit

Most, but not all states take your credit score into account when you apply for an auto insurance policy. Some will even offer you a significantly better rate on your premium if your score is high enough. If you have a credit score of 700 or higher, insurance companies typically consider you a lower-risk driver and factor a “financial stability discount” into your premium. The higher your credit score, the more you can save.

2. Military Service

Most service members are probably aware of companies that cater specifically to them. However, some other companies also offer discounts to members of the military or National Guard. With Geico, for example, service members can save up to 15%. Some companies offer discounts to students in commissioning programs like ROTC, so if you participate in these programs, make sure to check whether you’re eligible for extra savings.

3. Occupation

Even if you aren’t a service member, you may still be able to snag a discount on your premium based on your occupation. This is because people in certain professions tend to file fewer claims, so insurance companies view them as a lower risk, whether it’s because they have shorter commutes or have completed more education. Though the discounts might not seem like much (usually 1-3%, but as much as 10% in certain states) they’ll certainly add up over time!

4. Good Grades

Have young drivers in your family? You may be able to save extra if your driver is able to keep their grades up. Many major insurers offer their own version of this discount, allowing drivers to save as long as they hold a B average or higher. The discount varies among insurers, but some companies will shave up to 25% off of the premium price for maintaining good grades.

5. Marriage

Insurance companies tend to view major life events such as getting married as a sign of maturity. For this reason, they’ll often offer policy discounts to married couples. Married couples can also save extra by bundling multiple policies, such as home and auto insurance. Some companies also extend discounts to people in domestic partnerships, so do some research ahead of time to see if you qualify.

6. Anti-Theft and Safety Features

These days, laws require cars to have standard safety features like airbags, safety belts, and electronic stability control. These can net you a discount on your car insurance, but if you go the extra mile to install anti-theft devices, those discounts may stack. These measures can include things like car alarms, VIN etchings on your windshield, ignition cutoff switches, and tracking systems for stolen cars. While these are something of an expense, the savings may be well worth it—some companies offer up to a 25% reduction on comprehensive coverage. Just make sure you shop around before committing. VIN etching, for example, can cost hundreds of dollars at a dealership, but local police stations or organizations like AAA may offer it for free.

7. Being Eco-Friendly

Some companies offer discounts if you take advantage of paperless statements. You may also be able to save even more if you drive an eco-friendly car. The paperless statement discount may be a one-time deal, but insurance companies tend to consider drivers of eco-friendly cars as lower-risk drivers.

8. Shopping Early

It’s always a good idea to start shopping early for car insurance when it’s time to renew your policy, because you’ll have ample time to compare quotes and find the right company. But did you know that some companies may even reward you for shopping early? You may be able to take advantage of a discount of up to 10% for switching to a new company before it’s time to renew your premium. However, before you commit to switching, call your current company. They may offer to match another company’s deal, especially if you’re a loyal customer with a good driving record.

9. Organization Affinity

Some insurance companies partner with nationwide organizations to offer discounts to their members. Fraternities and sororities may save you 8% on your premium. Additionally, if you belong to organizations related to your profession (like the Bar Association, for example), check with insurance companies to see if you qualify for savings.

Though discounts may seem like a lot of work to get, there are plenty out there. Using a comparison service is a simple way to find discounts you’re eligible for and make sure you’re getting the best possible rate on your next policy.