Car Insurance Discounts
How can I save money on my car insurance?
Most people don’t enjoy paying for insurance every month, but it can save you from a financial disaster in the future. It’s important that everyone has sufficient financial coverage. Paying the least amount of money for your insurance policies with the appropriate amount of coverage and having a strong financially backed company in your corner is what we all want. Asking your insurance company for the car insurance discounts they offer is the easiest way to get an immediate discount. Consulting with multiple insurance companies and comparing the insurance discounts they all offer gives the insurance shopper the most leverage when shopping for your next insurance policy.
With VA Car Insurance we work with independent insurance agents because they work directly with multiple insurance carriers. Independent insurance agents provide the superior insurance shopping experience because the insurance agent has direct access to a pool of financial products from mulitple carriers. A captive agency employs salesman to sell financial products they or their afilliated carrier service. Independent agents/brokers work with many different insurance carriers, who each service their insurance products.
Instead of the insurance shopper going directly to each individual insurance company to receive a quote, an indepedent insurance can do that work for you. Independent insurance agents save the shopper more time, you have access to a wide range of financial products, and you save money by choosing the insurance policy that best fits you. Below we put together a car insurance discounts guide that major insurance companies offer their policyholders.
What are some popular car insurance discounts?
Below is a list of different car insurance discounts that are offered by insurance companies. Of course each insurance company is different and we recommend using this list as guide when shopping for your next policy.
- Defensive Driver Discount
- Multi-Vehicle Discount
- Safety Features
- Young & Old Drivers
- Drive Less
- Higher Deductible
- Legal Minimum Liability Coverage
Defensive Driver Discount
A defensive driver discount is offered to a policyholder that completes an approved defensive driving course. The defensive driver discount amount differs for each state and the insurance company, but you can expect a discount in the range of 5%-10%. The insurance discount will last for a few years depending on the state. Each state determines the length of the course but you can expect to spend around 4-6 hours to complete the course. The defensive driver course is mandated by your state and the curriculum will go over the laws and regulations for your state. If you are strapped for cash, have a surplus of time and are looking for a way to reduce your monthly premiums the defensive driver discount is one way to lower them.
Multi Vehicle Discount
A multi vehicle discount is offered to policyholders who choose to insure multiple vehicles with the same insurance company. If you have multiple vehicles and are shopping for policies, a multi vehicle discount is one of the easiest to obtain. For most insurance companies it is automatically applied for each additional vehicle that is under the same policy.
Safety features that are installed in your car can help deter or mitigate damage if your vehicle is involved in an accident. Insurance companies offer discounts to policyholders who have some of the following features installed in their vehicle: Air bags, automatic seat belts, anti-lock breaks, anti-theft system, daytime headlights. If you are have installed safety features to your vehicle it’s best to inform your insurance company to see if they offer an insurance discount for the feature.
Young & Old Drivers
Young and older drivers are some of the most at risk drivers to be involved in an accident. Although not always possible, keeping both young and older drivers off your insurance policy will lower your monthly insurance premiums. Less high risk drivers on your policy is less overall risk to the insurance company and lower premiums for the policyholder.
Driving your vehicle less is another way to lower the policyholders monthly premiums. The least amount of miles driven every year requals less time on the road which is less financial risk to the insurance company. Less overall financial risk to the insurance company means lower monthly premiums for the policyholder.
Raising your deductible on collision and comprehensive coverage is another way to slightly save money on your policy. Higher deductibles are a financial bet made by the policholder that they won’t be involved in an accident.
Legal Minimum Liability Coverage
Having just the minimum amount of liability coverage that your state legally sets is another way to save money on your car insurance premiums. Similar to having a higher deductible on your collision and comprehensive policies, only having the minimum amount of liability coverage leaves the policyholder with more assumed risk.