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What are the most unusual discounts offered by car insurance companies?

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Things to Remember...
  • There are many discounts available to consumers
  • In order to be profitable for insurance companies, a discount must prove the safety of the driver
  • Check with your insurance carrier to see if you qualify for the good student auto insurance discount
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Most people know that their car insurance carrier will provide discounts for policyholders. Some of the usual discounts include discounts for using one insurance provider for both your home and car insurance policies.

Another common discount is a safe driver discount that many insurance carriers provide to those who have been policyholders for an extended period of time with no accidents or traffic tickets.

However, some unusual types of auto insurance discounts are available through various insurance carriers that most people are not aware of.

These discounts may seem strange and humorous, but saving money on auto insurance is a significant concern.

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Unusual Discounts

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For cheap full coverage auto insurance policies, many insurance carriers will give the policyholder a discount if the car is parked in a garage at night. The reasons for this discount are obvious.

Garage parking decreases the chances that the car will be damaged or stolen at night.

Insurance companies know that your car is safer when parked in a garage, and many will provide you with a discount on your rates if your car is safely parked in a garage during the night hours.

In order to be profitable for insurance companies, a discount must prove the safety of the driver or the vehicle in some way.

There are unconventional ways to ensure this, but the principle of vehicle safety is always the main concern.

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Good Grades Discount

Check with your insurance carrier to see if you qualify for the good student auto insurance discount.

If the student is carried on their parents’ policy, the parents will save a little money on the monthly or bi-annual premium payments.

If the student pays for their own insurance policy, any little bit of savings helps.

If your insurance carrier does not provide discounts for good students, there are plenty of carriers that will.

College Alumni and Other Associations

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Often, college alumni associations offer discounted car insurance policies through major providers to their members.

If you are a college graduate, check with your college alumni association to see if they are able to offer any discounted car insurance policies through the organization.

In addition, other associations may provide discounted car insurance for their members.

For example, AARP offers seniors several options for discounted car insurance policies through their organization.

Teacher’s Unions

Various teacher’s unions and organizations, such as the National Education Association (NEA) provide discounted policies through large insurance companies as a benefit to their members.

If you are a teacher and belong to a union or other organization, check with the organization to see if any discounted car insurance offers are available through the group.

Black Box Monitoring Discount

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One of the most unusual discounts available on auto insurance policies is one where the driver allows their driving habits to be monitored by a “black box” device.

This black box device monitors the driving habits of the driver and records the miles driven and whether the driver exhibits safe driving habits.

If the driver is always a safe driver and does not mind if their driving habits are monitored, check into one of the insurance companies that offer Black Box Monitoring discounts.

At least one major insurance carrier offers the monitoring program.

This company claims that by being a safe driver, drivers are able to save significant money on their premiums.

The “Vanishing Deductible” or Decreasing Deductible

At least one major insurance provider offers drivers the chance to decrease their deductible each year, for every year they do not have an accident.

This means that if you carry a $1000 deductible on a full coverage policy, for each year that you do not have an accident, a portion of the deductible is decreased.

For example, if your deductible decreases by 10 percent each year that you do not have an accident, the first year you receive the discount, your deductible would be decreased to $900.

The following year the deductible would be $800.

After ten years, provided that you did not have an accident in that time period and that the insurance company still offered the same program, your deductible would be $0.

Though this discount is not a discount on the monthly or bi-annual premiums, not having to pay a deductible if you are ever in an accident could be significant savings to you in the long run.

Most insurance companies offer various discounts to their policyholders.

However, these discounts may range from standard, widely-known discounts to the unusual.

In addition, different companies may offer different discounts for similar factors.

One company may offer the good student a discount of 5 percent while another provider may offer a discount of 10 percent.

The best way to find the unusual discounts offered by various car insurance carriers is to shop around and compare policies.

Using an online comparison tool, check into several insurance companies at once to see the rates, as well as the discounts, each insurance company provides to its policyholders.

Enter your zip code into our FREE auto insurance comparison tool to find the best rates possible for you!

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