Family in van with auto insurance

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In addition to getting several auto insurance quotes, you can also save money through discounts offered by car insurance companies.

Discounts on auto insurance are a good way to lower your premium. Many companies claim that discounts could save you anywhere from 5% to 20% on your premium. 

You may already be getting all of the discounts you are eligible for with your current insurer. On the other hand, you may now be eligible for discounts that you previously couldn't get because your life situation has changed.

When you compare auto insurance quotes, you should be offered discounts that you can currently qualify for. It's also a good idea to check with your current auto insurance policy to make sure you're not missing any other money-saving opportunities. 

Typical discounts include:

Multi policy - When you buy car and home insurance from the same company, you usually get a discount off of one or the other. You may also get this discount if you buy auto insurance and another insurance product — such as term life insurance — from the same company.

Multi car - Insuring more than one vehicle on the same policy often saves you money.

Air bags - The more air bags (driver's side, full front seat, side) you have the bigger your discount may be.

Anti-lock brake system (ABS)

Built-in anti-theft system - Alarm systems and electronic tracking devices may qualify you for a discount.

Daytime running lights

Accident-free/Good driver - This is becoming more common among car insurance companies; if you have had a stellar driving record for the past three or five years or so, it could translate into big savings.

Defensive driving/driver education courses - Taking a defensive driving course could get you a discount as well as make your trips out on the road safer. And young drivers who complete a driver education course can often lower their (or their parents') premium.

Good student - Car insurance for teens and young college students can be a bit cheaper if they keep their grades up — usually fulltime students with a "B" average or better. 

Military - Some auto insurance companies reward active and retired military personnel for their service to the country with a discount.

Senior drivers - Drivers over 50-55 years of age may qualify for a discount. 

Low annual mileage - If you drive less, your risk decreases and insurers like that. Depending on the miles you drive annually, you could see some savings. (You'll also save on gas.)

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