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Find The Best Discounts For Your Vehicle Insurance

Everybody wants discounts for their vehicle insurance. And why not? Whether its 2% or 20%, its money that you don't have to pay. Our website researches and monitors the deepest cost premium reductions that are offered to consumers, and we present them to you in an easy-to-read format.
 

Throughout the year, these reductions can translate into huge savings...perhaps as much as thousands of dollars, depending on how many cars and drivers are in your household. The higher your premium, the more valuable discounts become. And typically, once you earn that price break, it will stay applied to your policy for many years.
 

We have provided one of the most comprehensive lists of available discounts below with the help of Bankrate. Not all of the reduction are offered by every insurer.  Ten of the largest companies were considered and they include: State Farm, Allstate, Geico, Progressive, Farmers, USAA, Liberty Mutual, Nationwide, Travelers and American Family. NOTE: Other large carriers, such as Hartford, Erie, Mercury, and AAA also offer similar options.
 

Multi-Policy -- Offered by every carrier and typically in the 10%-20% range. Of course, you must own at least two vehicles. However, a few carriers allow the savings if more than one family member has an active policy, even if they are in different households. On commercial policies, savings on a fleet of vehicles becomes more substantial, often as much as 30%. Once you drop to a single vehicle on the policy, you'll notice a big difference.
 

Good Driver -- The amount of the reduction varies. Liberty Mutual was the lone company not to include it. Usually, the amount of savings increases every few years. So, although the initial amount may only be 5%-10%, it is conceivable it could eventually reach 20%-30%. An at-fault accident, depending on the carrier, will only impact the driver assigned to that vehicle, and not the entire cost of the policy. However, Liberty Mutual and others, under certain circumstances, will not surcharge for the first at-fault accident.
 

Longevity -- Many carriers including  State Farm, Progressive and Farmers, discount prices based on the number of years you have been their customer. In some cases, you have to be accident or claim-free. So it may not help if you have been with the same company for 20 years with three at-fault accidents and several additional claims. But the combination of loyalty and a clean record could yield some impressive price reductions. Conversely, if a company continuously offers uncompetitive pricing, you should have left years ago.
 

Cheaper rates Woth Good Student Discount

Get The Good Student Discount


 

Good Student -- Everyone offers this discount. Reductions range from about 5%-20%. However, typically, the savings applies to the vehicle the student drives. And a "B" or "80" average must be maintained. Proof must be provided at least a few times per year. Of course, especially for teenagers, it is so important to stay under the speed limit. We have included many teenage driving tips that should be a must-read for parents. If your young driver can stay accident and ticket-free for their first three years, you'll be richly rewarded with savings.
 

Student Away -- A little different than the previously mentioned discount. To qualify, you must attend school (typically college) a specific number of miles away from home. Usually that number is in the 45-90 (or more) range. Geico and USAA don't offer this yet, but we hope they do in the future! Often, if the school is more than 500 miles away, a much more significant reduction may be offered, including not charging any extra premium for your student. It is rare, however, when a carrier totally excludes a youthful for rating purposes, since this may assume your son or daughter stays in school for summers as well.
 

Multi-Car -- Typically in the 10%-22% range, all companies offer this option. Although it has been reported that Allstate does not offer this reduction, I have not found that to be true. Also, some companies extend the savings to other family members outside of the household. In those situations, there are additional requirements to retain the discount and it may disappear at age 25. This reduction is also offered on classic and antique autos, that may be covered under a separate policy. There is no extra reduction for covering an unusually high number of vehicles (such as five).
 

Good Credit -- Good credit standing will not only help you secure a lower interest rate on a loan, but it may save you big bucks on your insurance policies (not just auto). Recently, many reliable research reports indicate that safe drivers are more likely to have better than average credit. Persons with superior credit have the fewest claims of all categories that were studied. Your savings will vary, but expect a nice reduction if your combined FICA score is above 750.
 

How To Find Discounted Auto Insurance Prices

Good Credit Can Reduce Your Auto Insurance Rate


 

If you have a credit score below 700 or have bankruptcies in your recent past, we will focus on carriers that don't utilize credit when determining rates. There are many insurers that will offer low premiums despite recent credit or financial issues. The importance of your credit rating also extends to many other areas, including buying a home, refinancing or consolidating loans, and borrowing money.
 

Go Green -- No, not the vehicle.  But if you agree to have all billing correspondence emailed or electronically faxed, this will apply. It appears USAA is not quite up to speed on this one yet. The other carriers offer either a limited or full discount. Within a few years, you may see rate reductions by exchanging paper billing for electronic billing, if allowed by the state Department Of Insurance. Since email alerts are much more efficient than a late-payment warning sent in the mail, we encourage all customers to consider receiving all correspondence online.
 

Green Car --  Although there aren't many hybrid vehicles that qualify, Farmers and Travelers were two of the first companies to give you a credit. Some of the most popular cars that qualify include the Honda Insight, Toyota Prius, Honda CR-Z, Chevrolet Malibu Hybrid, Toyota Camry Hybrid, Hyundai Sonata Hybrid, and Volkswagen Jetta Hybrid. We expect many more vehicles to be added to the list by 2017. There are many more 2016 models to choose from, compared to 2015.
 

Anti-Theft -- The only company not offering is American Family. However, they do feature a substantial reduction if you have air bags. Having anti-lock brakes will also help with most carriers. You can purchase a wide range of systems both online or locally. If installation is required, it may be best to have a dealership or trusted body shop perform the work. The "gadget" alarms that sell for less than $30 are generally not very effective. Of course, there is also the "Club," that used to be placed on your steering wheel. We're not sure if that's still available!
 

Armed Services --  If you served, you get a reduction of about 5%-10%. State Farm, Geico, Progressive, USAA and Farmers participate in this patriotic gesture. An honorable discharge may be required, although proof is generally not needed. If a son or daughter participates in ROTC, a small reduction in premium may be offered.
 

Vehicle Rate Reductions

Don't Lose That Good-Driver Discount!


 

Limited Driving -- If you rarely a drive a vehicle (typically less than 3,000-6,000 miles per year), you'll earn a discount from Travelers, Liberty Mutual. USAA, Progressive, Allstate and State Farm. Other carriers have break points at 10,000 miles (sometimes 7,500). The installation of an electronic monitoring device (Progressive's Snapshot Program) will automatically reduce the premium.
 

Early Enrollment -- If you  don't wait until the last minute to change companies, often you will be rewarded. That is, if you need an effective date of the 15th of the month, by starting the application process on the 5th instead of the 14th, you may save money. Allstate, Farmers, Nationwide, Travelers and American Family will offer that break. Others are expected to add this reduction.
 

Method Of Payment -- Although many consumers prefer the monthly billing option because it is the most convenient and requires the smallest cash outlay, you may be paying more than you realized. Unless it is an automatic electronic withdraw, there may be some hidden fees (or maybe not hidden) of about $2-$5 per payment. Semi-annual or annual payment plans will be the best deal although you will have to make a much larger payment. Quarterly billing is sometimes available but also may include an administrative fee.
 

Group Affiliation -- Almost all of the large insurers have group agreements with specific large employers (such as Verizon, Time-Warner, Microsoft, Cisco etc...) where if you are an employee of these companies, you may earn a reduction of approximately 2%-10%. A payroll-deduct option through your paycheck may also be available, which allows you to make smaller automated payments. If you leave the employer or are terminated, you can convert to a different mode. Each year, the lists grows, so it's worth asking your employer each year if they participate.
 

It's also important to understand that a carrier that offers fewer consumer discounts, does not necessarily charge more for their auto insurance coverage. It's very possible where Company A charges $500 semiannually with very few or no discounts while Company B charges $650, utilizing six different discounts.
 

This situation is a perfect example of how we can help you save money on insuring your vehicles. With more than three decades of experience working with the top companies, we spend most of our time monitoring and comparing prices, so you are always  presented with the best options. Instantly, you can can request a quote and see the best offers.
 

UPDATES:
 

November 2014 -- The 2015 Honda CR-V is loaded with enhancements, including several safety upgrades, and should be very "insurance-friendly" when rates are published. We expect this vehicle to earn a "Top Safety Pick" from the Insurance Institute For Highway Safety. In addition to the standard air bags, anti-lock brakes and electronic stability control, "LaneWatch," lane departure warning, and a collision mitigation breaking system will be offered.
 

May 2015 -- Guess which discount is the most likely not to be applied to your policy? According to a new Princeton research study, the low-mileage reduction is often missed. If you move residences or retire, there's a good chance you will be driving less. Also, many carriers offer reduced pricing at specific mileage levels that you may already be meeting. Whether it's 5,000 miles per year, or another figure, it may pay to ask if you qualify for a reduction you're not currently getting.

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  1. Ann Heller

    I just got off my parent’s plan so I was not looking forward to finding the best policy for me. Thank you for your help with finding a policy that even my parents thought was a good deal! Ann

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