Who Offers the Most Car Insurance Discounts?

Who Offers the Most Car Insurance Discounts?

Car insurance can be expensive, but there are ways you can cut down on your monthly premium by finding a discount. The best car insurance companies offer discounts for a variety of reasons from your car’s safety features and your history of safe driving to military service, employer and other affiliations. What insurance companies offer the widest range of discounts?

Understanding discounts

Before you research individual insurers, it’s a good idea to know the general kinds of discounts available. Here’s a look at some options:

Car safety features

In most cases, you will find small discounts for vehicles with anti-lock brakes, dual airbags or other safety features. Discounts may apply only to personal injury or collision portions of insurance coverage.

Driver history

Have you had a policy for over five years without an accident? Did you take a defensive driving course? If you have teenagers on your policy, did they pass driver’s education classes and maintain good grades in school? All of these factors can help you qualify for discounts.

Military or employment affiliation

Active or retired members of the military often qualify for discounts. Workers for companies affiliated with the insurer may also qualify, as do many federal employees. In addition to military and employer discounts, many carriers also offer other affinity discounts. For example, alumni from some universities and members of fraternities or sororities might be eligible for discounts.

Customer loyalty

Insurers reward loyalty with discounts for longtime customers and those who have more than one product. For example, you might qualify for a discount when you move your homeowner’s insurance to your auto insurance company. You can also benefit from having multiple vehicles insured with the same company.

Car insurers and discounts

While there is no such thing as an insurer with the “best” discounts, you’ll need to research the different kinds of programs and qualifications to see which company could save you the most depending on your specific needs.

Geico

Geico offers a comprehensive discount list — more than any other insurers — so you’ll likely find at least one that works for you.

Discount categories:

  • Car safety features
  • Driver history
  • Military and employment affiliation
  • Customer loyalty

Top discounts:

  • Up to 26% off most coverage when you haven’t had an accident for five years
  • Up to 25% off most car insurance coverage when you have more than one car insured with Geico
  • Up to 25% off for military members deployed with the Enduring Freedom or Iraqi Freedom
  • Up to 15% off total insurance for active or retired members of the military and the National Guard

Geico offers employment, service and membership-affiliated discounts for over 500 groups including active or retired federal employees.

Esurance

Esurance offers a long list of discounts, but the terms apply to more specific circumstances than the general discounts offered by Geico. For example, Esurance offers a discount of up to 15% off to current students or alumni at the 12 universities in the PAC-12 athletic conference.

Discount categories:

  • Car safety features
  • Driver history
  • Customer loyalty

Top discounts:

  • Up to a 40% discount for having a valid driver’s license for three years and without getting more than one point for a driving infraction
  • Up to 25% off comprehensive coverage for anti-theft devices, depending on the device and vehicle
  • Up to 25% off the premium for five years of claim-free driving

Allstate

Allstate’s discount policies are broadly defined, but somewhat limited in number. The company favors the driver’s history and customer loyalty when offering savings.

Discount categories:

  • Car safety features
  • Driver history
  • Customer loyalty

Top discounts:

  • Up to 45% off for safe driving
  • Up to 35% off for five years without an accident
  • Up to 35% off a vehicle’s policy for students attending college at least 100 miles from the insured vehicle they drive while at home

State Farm

State Farm’s discount policies favor good driving and customer loyalty. The specific discount programs apply to many drivers, but there aren’t a lot of programs available.

Discount categories:

  • Driver history
  • Customer loyalty

Top discounts:

  • Up to 25% off for student drivers, up to age 25, who maintain good grades
  • Up to 20% off for multiple cars insured with State Farm
  • Up to 17% off for multiple kinds of insurance with State Farm

Liberty Mutual

Liberty Mutual offers some very general discounts that most people will qualify for. Discounts exist for newly married couples, fresh college graduates, retirees and those who’ve recently moved.

Discount categories:

  • Car safety features
  • Driver history
  • Customer loyalty

USAA

USAA offers insurance only to members of the military and their family members. The company has a narrow set of discounts, led by savings for active-duty members, that depends on rank.

Discount categories:

  • Military affiliation
  • Customer loyalty

USAA’s customer loyalty benefits include the legacy discount, which allows for up to 10% savings for drivers under age 25 with parents who have USAA insurance.

21st Century

You will need to consult 21st Century’s state discount list to see what’s available in your area. The availability and discounts vary widely by state. Military discounts in particular are available in just a few states.

Discount categories:

  • Car safety features
  • Driver history
  • Military affiliation
  • Customer loyalty

The company also offers a discount for unmarried students who attend college and who live on campus more than 100 miles from the insured car the student drives while at home.

Always call to confirm

When shopping for a car insurance policy, always talk to a representative to confirm the available discounts, since terms can change over time.


Car accident image via Shutterstock.