Everyone loves a good discount. In the insurance industry there is certainly no shortage of discount opportunities. It is for this reason that we have decided to create a four-part series on potential insurance discounts that you can be cashing in on to keep more money in your pockets.
In this post we will be going over insurance discounts related to your auto policy concerning your vehicles and policies. Be sure to ask about these discounts the next time you are looking to update your insurance coverage.
Vehicle Discounts
Telematics – Many insurance companies offer apps that track your driving habits. The safer you drive, the more money you save on your insurance.
Hybrid/Electric Cars – Due to growing green initiatives and their lower risk levels, many insurance companies offer discounts on up to 10%.
Private Parking – Depending on where you typically park your car, you could be saving money on your insurance. A private driveway is considered a safer place to park than the road or a parking lot.
Alarms – Having an anti-theft device on our vehicle could save you between 5% and 15%.
Make/Model – Every type of vehicle has a different safety rating. Owning a vehicle with a higher safety rating allows you to pay a cheaper base-rate of insurance. When you’re car shopping always call ahead to get a quote on what your new insurance policy will cost.
Winter Tires – Having a set of winter tires that you use in the winter months can save you up to 5% on most policies. Remember to keep your invoice. Yes, insurance companies ask for them!
Auto Policy Discounts
Multi-Line – When you a habitational policy with the same insurance company, your insurance company will give you a discount. (e.g. a home, tenant or condo policy)
Multi-Vehicle – When you have multiple vehicles on the same auto policy, your insurance company will give you a discount.
Loyalty – If you stay with the same insurance company for many years, they will likely give you a loyalty discount upon renewal.
Group Discount – Depending which company or associations you are a part of you could receive a discount on your insurance.
For more information on more insurance discounts please be sure to check out the other posts in this series:
If you are interested in finding the best pricing and discounts for your auto insurance, please give us a call 1-877-941-2266 or contact Absolute Insurance Brokers and we would be happy to help you find the right policy.
