Standard Discounts for Auto Insurance

Although there're many discounts available from companies to companies, there are some standard ones used across different states. In this article, we will introduce each of them.

Multi-car

When you insure more than one car in your policies, usually you can get a multi-car discount for each of them. In another word, it's better to insure all the vehicles in the same policy instead of putting them in separate policies.

Multi-policy

If you purchase multiple policies from the same company, you can often get a multiple policy discount. For example, if you already have auto insurance from a company and then you purchase the renters policy from them, you can get a discount on your auto insurance about 5-15% depending on the company or state. However, it doesn't mean you should always purchase all policies from the same company because sometimes the saving you can get to buy a standalone renters insurance policy is even higher than the discount for the multi-policy.

Education and Profession

There're two types of education discounts. One is for the degree you earned. The other is for the college you graduated from which is not available in all the insurance companies. For some advanced professions, you can get a decent discount of 10-15% which may require verification from your employer.

Anti-theft/Anti-lock Brakes/Airbags

Most companies can give you a discount on the comprehensive proportion of the premium if you have security-related features such as install an alarm, anti-theft, steering wheel locking or anti-lock brakes.

Good Driver

If you don't have any record of violation or accident during the last three or five years, you're considered as a good driver for most companies. This is also one of the best discounts in most companies.

Good Student

For a student who maintains an average grade of B or above can receive a significant discount on their insurance premium. Although, the premium maybe still high because students usually don't have lengthy driving experience.

Standard Risk

Every insurance company manages its risk differently. But in general, there're standard risks for auto insurance including No tickets or no accidents within a specific period, no drivers under 25 years old or over the age of 65, no high-performance vehicles.