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5 Things To Know About Auto Insurance Discounts

Many auto insurance companies provide discounts for their customers, which is a great incentive for you to both stick with that company and apply for coverage with them, as well. However, many consumers don't understand how auto insurance discounts work, which can make it difficult to determine what types of discounts you are eligible for. Knowing these five things about auto insurance discounts can help you to better understand which discounts you can ask your auto insurance agent to apply to your coverage:

  1. Some Discounts Only Apply to Certain Coverages: Many auto insurance companies provide discounts for customers who have a vehicle that has anti-theft protection. However, this type of discount is typically only applied when the customer has comprehensive coverage. Many customers with an older vehicle won't have comprehensive coverage, so they wouldn't be eligible for this type of discount even if they have an anti-theft system installed. 
  2. The State Law Mandates Some Discounts: Before meeting with your insurance agent, you should do your own research to determine what the state law mandates as an auto insurance discount. For example, some states will require that auto insurance companies provide discounts for customers who have completed a driver's safety course. When you know what these discounts are, you will know what you need to do in order to receive this discount according to state law.
  3. A Safe Driving Discount May Not Last: Customers who receive a safe driving discount, which means they haven't received a traffic violation or been in an accident over a certain period of time can easily lose this discount. If you receive a traffic violation or are in a car accident, not only will you lose the discount, but your auto insurance rates will also increase. 
  4. You Have to Ask for Discounts: Any discounts that you are eligible for are not automatically going to be applied to your insurance coverage. This is because you must ask for them. This means you should determine what discounts you apply for by looking at the discounts offered through your insurance company and then set up a meeting with your insurance agent to ensure that these are applied. 
  5. Your Credit Can Affect Your Eligibility: Auto insurance companies may not apply some discounts if you have poor credit. Although this won't affect your eligibility for discounts as much as your driving record, it's important to show that you are financially responsible in order for your auto insurance company to have incentive to provide discounts to you. 

When you know these things about auto insurance discounts, you can better understand how they work and what you need to do to ensure that they are applied to your policy.