Auto Insurance

Expert Tips: Hidden Ways to Save Money on Your Car Insurance

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If you’re looking for ways to cut your expenses, you certainly wouldn’t be alone. Do you find yourself only comparing prices on your car insurance when it’s up for renewal, or have you recently purchased a new vehicle?

What if you started comparing rates regularly? If you could save up to 40% on it, would you be interested in pursuing that? 

We’ll share discounts you probably don’t know about and how to take advantage of them — from your grades to your occupation. 

Students, Military, and Senior Citizens Discounts 

Raising your deductible amount, maintaining your policy for multiple years, and having coverage for numerous vehicles and drivers on your policy are some of the more common ways you can get cheaper car insurance. Did you know that you can receive a discount for your child’s good grades? 

In general, most companies offer a discount for full-time students between the ages of 16-25 who have a 3.0 or higher GPA, helping you save between 10% and 25% on your insurance rates. 

Students away at school who aren’t regularly driving a vehicle, military members, federal workers, and senior citizens can also save money on their insurance rates.

Ask your agent for possible discount availability if these apply to you and your covered family members. 

Driving Discounts

It’s common knowledge that the fewer accidents and tickets you have on your record, the lower your insurance rates will become. But have you heard about driver education classes?

Driver education classes can benefit you in knowing the different scenarios you may encounter while driving, and they have the potential to save you between 5% and 15%. 

The pandemic shifted many workers from the office to working from home full time. Have you informed your insurance company of these changes? If not, you may want to. Driving considerably fewer miles annually can save you money.

If you are comfortable with your insurance company tracking your driving, you can add a tracker system to your vehicle. In some cases, you have the option to choose a coverage that allows you to pay per mile you drive versus paying a flat-rate amount for your auto insurance. 

What are some factors that affect auto insurance rates? The number of hard braking stops, sudden accelerations and the average miles driven per year are just some of the data this type of technology will track and send back to your insurance company.

You’ll want to consider if this surveillance of your driving habits is worth the discount. 

black auto sedan

Vehicle Features and Additional Discounts

Auto theft devices can save you money on the comprehensive portion of your policy if your vehicle is equipped with one. Newer cars that have the latest safety features and technology could save you money as well. 

Bundling can save you money. You have the potential to save between 5% and 25% on your insurance rates if you choose to have both your home and your vehicles insured with the same company. There are also discounts for having multiple automobiles on the same policy. 

Don’t be scared to switch insurance companies if you find a cheaper rate; you mustn’t have any lapse in coverage. Some companies will still offer a discount for continuous coverage, even if it was not with that specific company. 

Technology has made financial independence easier for the consumer. Online options provide you the opportunity of doing things yourself that you would not have been able to do in previous years. However, when it comes to your insurance coverage, speak directly to your agent. 

Your agent works for you, and they know about all aspects of policy information and discounts, both old and new, that are available. If you believe you could qualify for discounts that aren’t currently on your policy, give your agent a call.

Don’t wait until your policy renews. Your agent can adjust rates even if it’s in the middle of your policy term.

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Kalyn Johnson writes and researches for the car insurance comparison site, Having worked many years in the auto insurance industry, Kalyn loves sharing the knowledge she gained on how to receive uncommonly known discounts on insurance rates.

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