Car insurance is one part of our family budget that we will always have to deal with and so it behooves us to get better informed. We would all love to buy some form of discount car insurance. The reality of that already exists. There are more discounts in car insurance than ever before. Some of the newer vehicles have so many of them that they are often cheaper to insure than some of the older vehicles. Let’s review some of the discounts available when purchasing car insurance.
Multiple Policy Discount
This one is common and yet there are many people that do not take advantage of this discount. This discount can be as high as 15% with some companies.
Good Driver Discounts – Insurance companies love to reward the driver that has an excellent driving record. These are profitable policyholders and help bring the overall rates down.
Auto Safety Features Discount – Automobiles with airbags and seatbelts receive lower rates. Anti-lock brakes and anti-theft devices also lower car insurance rates. The vehicle identification number will identify all of these features and so it is important to give that number to whoever is quoting your car insurance.
Young Driver Discounts
Many companies give substantial discounts for high school and college students that have a 3.0-grade point average or better. The drivers training discount has been a standard discount for young drivers. Find a company that has both and you will help lower premium dramatically.
Senior Citizens Discounts – Drivers 55 and older are given retirement discounts if no longer employed. Homemakers can qualify automatically at age 55 with some companies. Mature driver discounts are also available when a driving course is completed.
Lower Tort Option – There are some states that have a lower or limited tort option. This is your ability to sue for pain and suffering. The lower tort option limits your ability to sue but at the same time, it can save you 20% or more in your premium. Contact your agent or insurance company about the tort laws in your state.