Insurance discounts

An insurance discount is a price reduction insurers apply to premiums when policyholders meet specific criteria. Insurers grant multi-policy discounts when customers combine home and auto policies, such as Allstate offering up to 25% off.

Safe driver discounts reward drivers with clean records–Geico reduces rates by up to 22% for no accidents in five years. Good student discounts lower premiums for full-time students with a GPA of 3.0 or higher; State Farm offers up to 25%.

Insurers provide loyalty discounts, as Progressive reduces premiums for customers insured five years without gaps. Insurers give anti-theft device discounts if vehicles have alarms or GPS tracking–Liberty Mutual grants up to 15%, YourInsurance.info confirms.

Defensive driving course discounts reduce auto premiums after completion of approved courses, like Nationwide’s 10% savings. Insurers offer paperless discounts for electronic statements–Esurance cuts costs by about 10%.

Homeowners receive protective device discounts when smoke detectors or security systems are installed, with Travelers giving up to 5%. Pay-in-full discounts apply when annual premiums are paid upfront–Farmers Insurance offers 5%.

Low mileage auto insurance discounts benefit drivers traveling under 7,500 miles annually; Metromile saves low-mileage drivers an average of $741 per year.