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Auto insurance can be a significant expense, but educating yourself on potential discounts can lead to considerable savings. In this blog, we’ll explore several ways to reduce your auto insurance costs through strategic use of discounts, smart policy management, and informed choices about coverage.
Types of Auto Insurance Discounts
It’s essential to explore all available avenues for discounts, and luckily, many insurance companies offer a range of discounts to help you save. Here’s a breakdown of common auto insurance discounts and how you might qualify for them:
Anti-Theft Feature Discount
Vehicles equipped with anti-theft devices — e.g., alarm systems, tracking systems, and immobilizers — not only deter theft but can also qualify you for discounts on your auto insurance premiums. Insurers value the added security these features provide, which can reduce the risk of theft claims.
Mercury offers this auto insurance discount in these states:
Auto Pay Discount
Setting up automatic monthly payments for your insurance premium can also result in a discount. This convenient payment method helps ensure consistent, on-time payments, providing peace of mind for both you and the insurer.
If you live in one of these states, you may be eligible for this discount on auto insurance from Mercury:
Good Student Discount
For young drivers still in school, maintaining good grades can pay off beyond academic achievements. Many insurers offer a student discount on car insurance for high school and college students who maintain a 3.0 GPA or higher, reflecting the correlation between responsible students and responsible driving habits.
You may qualify for this Mercury discount if you live in any of these states:
- Arizona
- California
- Florida
- Georgia
- Illinois
- New Jersey
- New York
- Nevada
- Oklahoma
- Texas
- Virginia
Multi-Car Discount
Insuring more than one vehicle with the same company can unlock a multi-car discount. This discount is perfect for households with multiple drivers, allowing you to save money on each vehicle’s insurance policy through a bundled approach.
Mercury makes this discount available to qualifying drivers in these states:
- Arizona
- California
- Florida
- Georgia
- Illinois
- Nevada
- New Jersey
- New York
- Oklahoma
- Texas
- Virginia
Multi-Policy Discount
Bundling insurance policies — such as auto, homeowners, and renters insurance — with the same insurer can lead to multi-policy discounts. This not only simplifies insurance management but also significantly lowers overall insurance costs.
Drivers across these states can take advantage of this auto insurance discount:
- Arizona
- California
- Georgia
- Illinois
- Nevada
- New Jersey
- New York
- Oklahoma
- Texas
- Virginia
Pay in Full Discount
Paying your premium in full at the start of your policy period can lead to savings. Insurers often offer a discount for paying the entire premium upfront instead of in monthly installments, as it guarantees the payment and reduces processing fees.
Drivers in the following states may be eligible for this discount:
- Arizona
- Florida
- Georgia
- Illinois
- Nevada
- New Jersey
- New York
- Oklahoma
- Texas
- Virginia
Good Driver Discount
Drivers with a clean driving record over the past few years may be eligible for a good driver discount. This discount rewards drivers without accidents, traffic violations, or claims, emphasizing the insurer’s appreciation for safe and responsible driving.
Mercury offers this auto insurance discount to drivers in these states:
- Arizona
- California
- Georgia
3 Year Accident/Violation Free Discount
If you’ve maintained a clean driving record with no accidents or violations within the past 35 months, you may qualify for this Mercury discount. This reward recognizes safe, responsible driving and can help lower your auto insurance premium.
If you’re located in one of these states, you could save with this discount:
- Arizona
- California
- Florida
- Georgia
- Illinois
- Nevada
- New Jersey
- New York
- Oklahoma
- Texas
- Virginia
E-Signature Discount
When you choose to sign all required insurance documents electronically, you may qualify for the e-signature discount. This convenient option saves time, reduces paperwork, and can lower your premium.
You may be able to claim this discount if you live in one of these states:
- Arizona
- Florida
- Georgia
- Illinois
- Nevada
- New Jersey
- New York
- Oklahoma
- Texas
- Virginia
Electric Vehicle Discount
If you drive an electric car, you can save on your auto insurance, too. Mercury gives a discount for every EV you add to your policy, so going green also means keeping a little more money in your pocket.
Mercury makes this discount available to customers in these states:
- Arizona
- Florida
- Georgia
- Illinois
- Nevada
- New Jersey
- Oklahoma
- Texas
- Virginia
MercuryGO Discount
MercuryGO is a mobile app that tracks your driving habits and rewards safe behavior. There are two ways you can save with MercuryGO:
- Participation discount: You’ll get a discount just for keeping the app active on your phone.
- Driving discount: At renewal, drivers who earn a strong safety score through the app can unlock even bigger savings.
You may be eligible for these savings if you’re a resident in one of the following states:
- Arizona
- Florida
- Georgia
- Nevada
- New Jersey
- Illinois
- Oklahoma
- Texas
- Virginia
How to Save Money on Auto Insurance
Aside from discounts, there are other ways to save money on auto insurance. Consider implementing these strategies, which can lead to substantial savings over time:
Adjust Your Coverage
Carefully assess your current insurance coverage to ensure it aligns with your needs. For example, older vehicles might not require comprehensive or collision coverage if their value does not justify the cost. Similarly, consider your deductibles and liability limits. Increasing your deductible could lower premiums, but confirm that it’s an amount you can comfortably afford if you need to file a claim.
Take Advantage of Low Mileage
If you drive significantly less than the average driver, inform your insurance company. Less time on the road means a reduced risk of accidents, which could qualify you for lower rates. Some insurers offer specific low-mileage policies or usage-based insurance programs that track your driving and potentially offer savings for safe driving habits and reduced mileage.
Improve Your Credit Score
Many insurers use credit scores as part of their pricing algorithms, premised on the notion that individuals with higher credit scores are less likely to file claims. Work on improving your credit score by paying bills on time, reducing debt, and checking your credit report regularly for errors.
Reconsider Your Vehicle Choice
The type of vehicle you drive affects your insurance rates. Cars that are expensive to repair, have a high theft rate, or are considered more dangerous (due to high performance or poor safety ratings) can increase your premiums. If you’re in the market for a new or used car, consider models known for their safety and reliability, which can be cheaper to insure.
Review and Compare Insurance Quotes Regularly
Insurance rates fluctuate based on various factors, including changes within the insurance company, the market, and your personal situation. Make it a habit to shop around and compare quotes at least once a year to ensure you’re still getting the best deal.
Conclusion
Auto insurance savings require a blend of utilizing discounts and implementing smart strategies to keep premiums at bay. If you’re looking for a provider that offers a diverse range of discounts and coverage options designed to fit your needs, look no further than Mercury Insurance. Contact us today to see how much you can save with auto insurance from Mercury.
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