Reducing excessive paper use is good for the environment, good for business, and possibly good for your wallet. A few companies provide cheaper vehicle insurance plans to consumers who use e-Sign services, which allow you to sign your policy paperwork online, or e-Pay choices, which will enable you to receive paperless invoicing via email statements.
Good Driver Discount
A good driver discount, also known as a safe driver discount, is a wonderful bonus for insurance buyers with spotless driving histories. To be eligible for a good driver discount, you must have a set number of years — often three to five — with no at-fault accidents and no driving offenses. Discounts tend to increase the longer your record is claim-free, with savings ranging from 10% to 26%.
Good Student Discount
Car insurance firms believe that good students are less prone to drive recklessly. Many insurers provide good student discounts to young drivers who have GPAs of 3.0 or above. This discount is frequently limited to drivers under the age of 25 and needs confirmation of GPA — typically in the form of a transcript or report card — at the start of each policy period. The average savings from a good student discount combined with a good driver discount are shown below.
Green Vehicle Discount
When it comes to car insurance, an eco-friendly vehicle is also cost-effective (and fuel conservation). Drivers who own or lease hybrids or alternative-fuel vehicles may be eligible for immediate discounts of up to 10%.
Because hybrids and electric vehicles (EVs) are frequently built with the most up-to-date features (according to the Highway Loss Data Institute, people traveling in hybrids are 25% less likely to be injured in an accident than people in traditional vehicles), you may be eligible for additional discounts for newer safety developments such as curtain airbags or Electronic Stability Control.
Premiums are determined by the amount of risk that a car insurance provider assumes when covering a policy. Homeowners (including traditional houses, condos, and apartments) are considered low-risk (read: less likely to file claims) and hence receive a discount.
Buying Homeowners, Renters, or Condo insurance with the same insurer is one way to get a car insurance discount. This approach, known as bundling, may result in extra discounts with each coverage. Another advantage of bundling is that you can keep track of and make changes to your existing policies in one location.
Many insurance providers offer savings for covering more than one vehicle on the same insurance policy, similar to the multi-policy discount. To qualify, the vehicles must be registered in the name of a single policyholder, driven solely by the policyholder or family members living in the same household, and be currently in use, not in storage.
This reduction is especially useful if you need to insure a teen driver. Restrictions vary, with some providers capping each policy at four vehicles.