When looking at our monthly expenses, we can see many things that are quite expensive. A mortgage or rent payment often tops the list. Food,
clothing, and medical costs can add up too. For some people, auto and transportation expenses can result in a big outlay of money each and every month. This becomes especially noticeable when that auto insurance premium is due.
Along those lines, there are many ways that we can save on auto insurance. I previously mentioned the concept of discounts as ways to save money. Two that I mentioned were: multi-car discounts (2 or more cars), and multi-line discounts (car plus another policy). Well, there are quite a few other potential discounts that drivers can take advantage of to potentially enjoy savings. And as the saying goes, a penny saved is a penny earned.
In addition to the ones mentioned above, here are 5 auto insurance discounts that might save you money:
1) Safe driver. Depending on the company, you might be able to get a discount for being accident-free for a period of time. Of course, accidents can be bad for our health, which is the priority. But being safe can also help your finances as well, in the form of lower insurance premiums than yoj might otherwise pay.
2) Anti-theft system. You might be able to save a signifificant percentage – possibly over 20% – if you have an built-in anti-theft system installed. So, your property can be better protected and you could save money on insurance. Not bad, and something to consider if you already have this installed.
3) Good student. We’ve talked before about how education impacts net worth. However, what didn’t enter that discussion was the fringe benefit of a good student discount 🙂 Yes, in some cases students who geet good grades might qualify for a discount. Of course, let’s also not forget that cars for teenagers to drive don’t need to be expensive in the first place. This can be another way to save.
4) Defensive driver course. Being a defensive driver is much smarter and – one would think – safer than being an overly aggressive, offensive driver. Those road rage types aren’t helping themselves! Anyway, another way defensive driving can help is through possible discounts for taking a course.
5) Military. Drivers who are on active duty or even retired might be able to get a discount on their car insurance premiums. It’s nice to see people getting breaks like this!
As with many things, one must check into these individually to see details, qualification, etc. That being said, it just might be worth looking into. These 5 discounts, as well as the 2 I noted previously, are just a subset of the total possible auto insurance discounts that are out there. It’s good to be informed, and see what we might qualify for. You never know where those opportunities to save might be!
My Questions for You
Do you give much thought to looking into auto insurance discounts?
If you do, what do you take advantage of and how much do you save?
Do you have any other good ones to share?