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The top 5 insurance policy discounts

By December 15, 2018February 11th, 2019No Comments
The top 5 insurance policy discounts

Getting the best auto, home or business insurance policy can be a tough task. With a myriad of options and coverages available decisions can be difficult and costs can become confusing. Don’t panic! There’s a silver lining. You probably qualify for at least one discount. There are a TON of opportunities available to you when it comes to saving money on your policies. Below is our list of the insurance policy discounts we think are most helpful.

1. Multi-Policy Discount (Recreational, Auto, Home, Umbrella and Business)

If you have multiple insurance policies it will often benefit you to have them all with one insurance provider. By doing this you typically receive a Multi-Policy discount that can range from 10%-25%. In addition to the discount getting questions answered or resolving an issue will be much easier because you will only need to contact one company.

2. Paid In Full Discount

While most people elect to pay their insurance policies on a monthly basis, insurance companies will sometimes charge a fee to do this. As a result there is often a discount available to those who choose to pay their yearly premium in full. It is something to keep in mind the next time you are budget planning.

3. Safe Driver and Accident Free Discounts

Insurance companies like to insure low risk drivers. If you have had a driving record free of accidents, tickets or violations, for the past three years you may be entitled to a discount. This discount is often automatically added to policies, so if you wish to make sure you are taking advantage of it, just ask.

4. Hybrid and Electric Vehicles

As if saving all that money on gas wasn’t enough. Now you can save on your car insurance too and all just for owning a Hybrid or Electric vehicle. Travelers Insurance even has a special program that can automatically save you up to 10%.

5. Low Mileage and Usage Discounts

If you’re a driver that doesn’t do a large amount of driving you may qualify for this discount. While the cap typically varies by company it’s usually 7,500 – 15,000 miles per year. Depending on your insurance company you may have to participate in an electronic monitoring program to qualify.

Additional Insurance Policy Discounts

While our list includes some of the biggest and most popular discounts available today, it is certainly not all inclusive. There are many additional discounts available including; Auto/Home, Life Insurance, Good Student, Mature Driver, Defensive Driver, Loyalty, Prior Insurance, New Vehicle, Student Away at School, Claim Free, and more. Also, while most large companies honor these discounts it should be stated that not ALL companies do. If you ever have questions about your policy or discounts you might be eligible for we would love to help.