We all know that we need to keep our driving record clean and avoid auto accidents to keep our insurance rates low.  But the savvy consumer is also aware of the many auto insurance discounts available.  If you qualify for one or more discounts offered by a carrier, you can see premiums decrease from 5% to 25%, depending on the combination of discounts for which you qualify.

Below is a list of discounts that many insurance carriers offer, when discussing your next renewal or next policy, make sure you look into these auto insurance discounts:

Multi-Car Discount: This discount is offered by nearly all insurance companies.  When you insure more than one vehicle on your auto insurance policy, you will receive a discount.

Multi-Policy Discount: If you own your home and insure both your home and auto with the same carrier, you can receive a discount.  This is a big discount offered by the multi-line insurance companies, or those who sell both auto insurance and home insurance.  Additionally, if you buy an umbrella policy, life policy, or a policy for a rental property, some carriers will continue to offer deeper multi-line discounts with each additional policy purchased.  Make sure to check with your agent to see that you are getting the best value offered by your current insurance company.

Homeowner Discount: When an insurance company only offers auto insurance, they will frequently offer a home owner discount.  This isn’t as good as the multi-policy discount offered by multi-line insurance companies, but if you are insuring with an auto-only insurance company, check to see that you are taking advantage of this savings.

Occupation or Education Discounts:  In many states and with many insurance companies, there discounts for various occupations, or academic achievement.  Typical occupations that qualify for discounts are Teachers, Engineers, Accountants, Scientists, Doctors and Nurses, among others.  Your agent will have a full listing of the available occupations that qualify.  Also, if you have a Maters Degree or a PhD, you might also qualify for a discount.  Not that education is paying off!

Association Discounts:  Some insurance carriers will offer group discounts if you are a member of a specific association.  If you’re a member of your state or local Bar Association, the American Medical Association, or AARP, you may be entitled to a discount.  Once again, check with your agent to see what association qualify.

Safety Course Discount: If you are willing to sit through an on-line safety course, and pass the course with an acceptable grade, some insurance companies will offer auto insurance discounts.

Hybrid Discount: If you own a nice, eco-friendly, hybrid car you may also be able to get an auto insurance discount.  Not all carriers offer this discount, so do your homework, and shop to see if you can take advantage of this savings.

Protective Devices Discounts: While these discounts aren’t very large, they still afford some savings on your auto insurance.  If your car has an alarm, tracking system (eg Lojack), anti-lock brakes, your vehicle may save you some money on auto insurance.  As these devices are become more common on vehicles, they are beginning to go away, but you will see them replaced with the new safety feature like traction control, blind-spot detection, lane departure warning devices, and rollover prevention, either through specific discounts, or reduced pricing on the vehicles that carrier the features.

While this isn’t an exhaustive list of the discounts available by all insurance carriers, it is a list of the most common.  At IronPoint Insurance, our carriers have some of the best discounts in the market.  Contact us to see if we you qualify and home much you can save.