There are several discounts that can be offered, depending on certain factors, which are detailed below:
1. Multiple Vehicles Most insurance companies offer a discount to consumers that insure
more than one car with their company. Companies offer these discounts not only because
they want all of your business, but also because it is easier for them to underwrite individuals
that they know, thus reducing their risk and saving them money. In addition, industry
statistics show that individuals and families that insure more than one car have better than
average claims experience. Through this discount, companies pass along some of their
savings to you.
2. Driver's Education Courses Discounts for drivers education courses are targeted
primarily at younger and older drivers. In Nevada, all insurers must provide for a reduction in premium for a threeyear period for people aged 55 and above if they successfully
complete a driving course approved by the Department of Motor Vehicles and Public
Safety. The insured must maintain a clean driving record in order to keep the discount.
One of the driving courses offered is 55Alive and is sponsored by the American
Association of Retired Persons (AARP).
3. Good Student Insurers have found that students who are responsible enough to earn a B
average or better tend to be more responsible drivers. For that reason, many companies
offer a good student discount.
4. Safety Devices Automobile safety devices can lower insurers' costs by preventing
accidents or limiting their severity. These savings are passed along to the policyholder
through discounts for safety equipment. This equipment includes air bags, automatic seat
belts and antilock brakes.
5. Antitheft Devices Devices or systems that deter theft or vandalism also lower claims
costs. Many companies offer discounts for antitheft devices.
6. Low Mileage The fewer miles you drive, the less chance you have of getting into an accident.
Insurers recognize this fact and generally offer discounts for low mileage drivers. Some
companies also offer discounts for drivers that participate in car pools.
7. Good Driver/Renewal Some insurers offer discounts to drivers who maintain a good driving
record and renew their policy with them.
8. Auto/Home Package Some insurers offer a discount on one or both policies if an individual
buys a homeowner policy and an auto policy from the same insurer.
9. Dividends Some insurers, particularly mutual insurers, offer dividends to policyholders if
the sale of auto insurance has been profitable to them. Dividends are declared and paid
after the policy period has expired.
Speak to an Experienced Insurance Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified insurance lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local insurance attorney to discuss your specific legal situation.