July 16, 2010

4 Insurance Discounts That Most Drivers Do Not Know About

Auto insurance quotes usually include the best known discounts such as multiple policy discounts, or discounts for a clean driving record. Other car insurance discounts may not be so obvious. Here are four discounts that are offered by many insurance companies. If any of these apply to you, ask your agent if you qualify for the price break.

Belonging to certain alumni associations and organizations can earn you a discount. If you belong to MENSA, AAA, the Farm Bureau, or AARP, ask for a discount. Being a member of a credit union, a professional development association, or an organization for scientists or engineers you may get car insurance discounts. You can check with the organization or your agent to find out if your membership will qualify.

The affinity group discount is for certain professions such as teachers, accountants, engineers, lawyers or medical professionals that are deemed to be a better risk for the insurer so they offer a special rate on auto insurance quotes. If you don't work in one of those professions but you have an engineering, science, match or education degree or license you may still get a discount. Those serving in the military or law enforcement may also be eligible for car insurance discounts. In addition, if you are a member of the military and deployed to certain danger zones the insurance company may offer a discount of up to 25% during your deployment.

If you have a teenager or college student in your family then you know that insuring a young driver can be expensive. But there are several discounts available to students. Student drivers can get a discount for good grades or completing driver's training. Some companies offer a resident student discount assuming that a student who lives on campus will not be driving as much. If a student belongs to a qualifying student organization such as an honor society, fraternity or sorority or a medical student organization, then a discount may apply.

Offer to pay your insurance policy in full for six or twelve months and see a decrease in auto insurance quotes. The insurance company saves on processing monthly payments and you get the break in price. Many agents will simply quote you the down payment and the monthly payments. Ask for the rate if you pay in full.

Not all of these discounts are available in every state or from every insurer. Make a list of any discounts that you think might qualify for and then ask if these apply to your policy. The only way to find out if you qualify is to ask questions. But the result can save you money on your auto insurance.