Save Money Today! Take Advantage of Car Insurance Hidden Discounts

Jun 22, 2021 11:20 AM EDT | Staff Reporter

Save Money Today! Take Advantage of Car Insurance Hidden Discounts


(Photo : Save Money Today! Take Advantage of Car Insurance Hidden Discounts)

This is a guide to the best-kept car insurance discounts like the passive restraint discount, how to qualify for them, and how much you can save. In this article, we list insurance companies that offer the largest savings for various demographics and situations.

Common Ways to Save on Car Insurance

All the insurance companies in this article have some variation of these common discounts. Be sure to check these out on your insurance company's website so you can get the most out of your buck.

  • Multiple auto discount - You can save on your insurance if you have more than one car insured by the same insurance company.

  • Multiple line discount - This applies when you bundle your car insurance with other policies under the same insurance company.

  • Good student discount - This discount applies to full-time students who have a good academic record. Usually, you will need an average of a B or better and be between the ages of 16 to 24.

  • Student away at school discount - If you have a college student under the age of 25 who has moved away from home and only uses their car when they come home for holidays or vacations, then you may be eligible for this discount.

  • New car discount - You can get this discount if you have a current model, or if your car is one year old or sometimes three years old, and you are the first owner.

  • Anti-lock brake discount - This discount applies when you have anti-lock brakes installed on your car.

  • Accident-free discount - You are qualified for this discount if your car hasn't been in an accident for three or more years.

  • Driver's education discount - If you are a young driver who has recently completed a driver's education program, you may be eligible for this discount.

  • Defensive driving discount - This is a discount you may be eligible for if you have ever taken a defensive driving class. It will help you save on your premium, but check the defensive driving information in your state to see if you are eligible. 

Geico

Let's start by looking at the kinds of discounts Geico offers for their car insurance policyholders.

  • Airbag equipment - This is a discount that applies to the medical payments or personal injury portion of your premium. Geico estimates that you can save up to 25 percent for a driver-side airbag and 40 percent for full-front seat airbags.

  • Daytime running lights discount - This is a small discount, but every penny counts. You can earn up to 1 percent off on certain car insurance coverages for having daytime running lights equipped on your car.

  • Seat belt use discount - This discount can save you up to 15 percent from the medical payments or personal injury protection portion of your premium if you and your passengers always use a seatbelt.

  • Emergency deployment discount - If you are an active duty member and are given an emergency deployment to a zone that puts you in imminent danger, you may be eligible for a discount of up to 25 percent.

  • Federal employee discount (Eagle discount) - You may be eligible for up to 8 percent off of your premium if you are an active or retired federal employee.

  • Membership and employee discounts - You will want to check out Geico's list of more than 500 groups listed under these discounts. You may qualify for additional discounts if you fall under one of these groups.

  • Military discount - This discount applies to any active duty or a retired military member or member of the National Guard Reserves. This is a discount of up to 15 percent off of your premium.

State Farm

State Farm has a number of discounts offered to their customers, but let's look at the ones that only they offer.

  • Vehicle safety discount - This applies to vehicles that were made in 1994 or later. Depending on what make and model the vehicle is, you can save up to 40 percent on medical payment coverages. 

  • Passive restraint discount - Vehicles made in 1993 and older equipped with a factory-installed airbag or other passive restraint equipment are eligible. You can gain a discount of up to 40 percent on medical coverage.

Allstate

Allstate is another common insurance company with a few discounts unique only to them:

  • EZ pay plan discount - You can save by setting up automatic withdrawals.

  • Allstate eSmart® discount - You can save by signing up for a paperless policy.

  • Early Signing Discount® - You are eligible for this discount if you sign your policy seven or more days before it is active.

  • FullPay® discount - A good car insurance money-saving tip is to pay your car insurance in full, which will make you eligible for this discount.

  • Responsible payer discount - This discount applies if you do not receive a cancellation notice for non-payment in the past year.

  • Safe driving club - If you meet the safe driving requirements and make it into this club, you can gain a discount.

Travelers

Travelers has a few unique discounts for those who own homes or hybrid cars. Check them out below.

  • Homeownership discount - You may be eligible for up to 5 percent off your policy if you own a home, even when that home is insured somewhere else.

  • Continuous insurance discount - You can save up to 15 percent on your policy if you have no gaps in your coverage.

  • Hybrid/Electric vehicle discount - This discount applies when you own or lease a hybrid vehicle.

  • EFT, paid in full, and good payer discounts - Travelers offers you savings when choosing how you pay your premium. If you pay in full, you can save up to 7 percent. You save up to 3 percent when using an electronic payment or payroll deduction or as much as 15 percent when continuously paying your premium on time. 

  • Early quote discount - You are eligible for this if you are new to Travelers and you get an auto quote before your policy expires. This discount can be up to 10 percent off of your policy. 

Nationwide

The last insurance company we will look at is Nationwide. Nationwide has great coverage for those who may not be driving a lot and only want to pay for what miles they are driving.

  • SmartRide - You can earn a discount by using their usage-based insurance program.

  • SmartMiles - This coverage allows you to pay less if you drive less, which is an incredibly helpful money-saving trick to using during this pandemic.

  • Easy Pay sign-up - If you set up automatic payments from your bank account, then you will be eligible for this one-time discount.

  • Affinity member - By being a member of an affiliate organization you can receive a discount on your insurance.

Now That You Know the Secrets

Now that we've gone over the different kinds of discounts offered by the biggest Insurance companies, the best money-saving advice would be to see which ones you qualify for and to call your car insurance company and see what other discounts they may offer you.

It never hurts to ask, and in the long run, gaining additional savings can add up.

Breanne Lingo writes and researches for the car insurance comparison site, CarInsuranceComparison.com.   

See Now: OnePlus 6: How Different Will It Be From OnePlus 5?

© 2021 Auto World News, All rights reserved. Do not reproduce without permission.
Get the Most Popular Autoworld Stories in a Weekly Newsletter

Join the Conversation

Real Time Analytics