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Don’t Miss Hidden Car Insurance Discounts

Check out Money Girl's 10 money-saving car insurance discounts to help you keep more of your hard-earned money. 

By
Laura Adams, MBA,
August 21, 2013
Episode #324

Page 1 of 2

One of the best ways to save money is to find discounts on expenses that you can’t avoid, like car insurance. Many policyholders are clueless about the variety of discounts that are available and therefore wind up paying too much for insurance.

In this episode I’ll tell you about 10 of the best discounts and how to start paying less for car insurance so you keep more of your hard-earned money.

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What Is a Car Insurance Discount?

A car insurance discount is a reduction in your premium. They’re offered to policyholders for a variety of reasons. Some discounts you might expect, like insuring multiple vehicles or being a loyal customer.

However, many car insurance discounts are somewhat hidden because you’ve got to know that they exist in the first place, and then ask for them. Also, not all insurance companies offer the same discounts in the same amounts.

See how many of the following 10 car insurance discounts you qualify for:

Discount #1: Multiple Policies

I mentioned that insuring more than one vehicle with an insurance company can save money. Another tactic is to bundle your car insurance with other policies. For instance, if you have home insurance, it may be cheaper to use the same company for your auto policy as well, instead of getting insurance with two different companies.

Discount #2: Anti-Theft Devices

Car insurance companies want to help you prevent car theft, so you never have to make a claim. Most carriers cut your rate for having an alarm system that keeps criminals from damaging or stealing your car.

Discount #3: Safety Features

Cars with modern safety features, like anti-lock brakes, air bags, and rear-view cameras, are less likely to get involved in an accident and cost an insurer. So be sure to let your provider know about every on-board safety device in your car.

Discount #4: Safe Driver

Your driving history plays a big role in how much you have to pay for car insurance. If you have a clean record with no moving violations or at-fault accidents, you typically get a nice discount from most insurers.

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