Insurance Discounts Worth Asking About

Insurance companies offer many discounts, but not all of them are applied automatically. Asking the right questions can lower your premium without reducing your coverage. Availability and amounts vary by carrier and state, so ask each company directly.

Discounts on almost any policy

• Bundling — buying two or more policies from the same carrier, such as home and auto, is one of the largest and most common discounts.
• Paying in full — paying for the whole term up front can earn a discount and avoids installment fees.
• Paperless and autopay — many carriers knock a little off for electronic documents and automatic payments.
• Claims-free history — going several years without a claim is often rewarded.
• Affiliation — some carriers offer discounts through employers, professional groups, alumni associations or military service.

Auto insurance discounts

• Safe driver — no accidents or violations for a set number of years.
• Multi-car — insuring more than one vehicle on the same policy.
• Good student — for students who keep good grades.
• Defensive driving course — completing an approved course, especially for older or younger drivers.
• Low mileage — driving less than average.
• Usage-based programs — apps or devices that track driving habits and reward safe driving.
• Safety and anti-theft features — anti-lock brakes, airbags, alarms and tracking devices.

Home insurance discounts

• Protective devices — monitored alarms, smoke detectors, deadbolts and water leak sensors.
• New or upgraded roof — especially impact-resistant roofing.
• Updated systems — newer electrical, plumbing and heating.
• New home — newer homes often cost less to insure.

Life and health

Life insurance pricing depends mainly on age, health and lifestyle, so the biggest saving is usually buying earlier and comparing carriers. For health insurance bought on your own, the most valuable "discount" is often the premium tax credit — check whether you qualify on your marketplace.

Ask on every quote

When you compare quotes, ask each carrier for every discount you may qualify for. That way you are comparing each company's best price, not just its starting price.